Forest Lake Animal Clinic
- Price: $979,200
- Cap Rate: 5.00%
- Years Remaining: 14
- Rentable Area: 1,699 SF
Previous
Next
Forest Lake Animal Clinic
Seabrook, TX
Investment Highlights
- Sales Price: $979,200
- Cap Rate: 5.00%
- Years Remaining: 14
- Lot Size: 0.37 Acres
- Market: Seabrook, Texas
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, SVP Forest Lake Animal Clinic investment property located in Seabrook, TX. The tenant, Southern Veterinary Partners, has more than 14 years remaining in their primary term with 4 (5-year) options to extend. The lease features 2% annual increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Southern Veterinary Partners is a nationally recognized brand operating over 180 locations nationwide with more than 3,000 employees.
Location
SVP Forest Lake Animal Clinic is strategically positioned along E. NASA Pkwy, a primary commuter and retail thoroughfare averaging 28,500 vehicles passing by daily. The property benefits from nearby on/off ramp access to State Hwy 146, a north/south state highway connecting the Houston MSA. Located in the heart of an immense retail corridor, the building is ideally situated between multiple shopping centers including Miramar Shopping Center (88,191 SF), Lakeside Shopping Center (35,048 SF), and NASA Center Shopping Mall (24,980 SF). Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the sire. In addition, the site profits from its proximity to numerous apartment complexes such as Village on the Lake Apartments (612 units), Encore on the Bay Apartments (296 units), Teakwood at Seabrook Apartments (277 units), and more, providing a direct residential consumer base from which to draw. Moreover, the property is within walking distance to NASA Johnson Space Center, the primary space exploration headquarters for our nation. The Space Center employs over 3,000 people and draws more than 1 million visitors per year to the immediate area. The 5-mile trade area is supported by more than 132,000 residents and 60,000 daytime employees with an affluent average household income of $112,964.
