Nassau Veterinary Clinic
- Price: $1,550,000
- Cap Rate: 7.25%
- Years Remaining: 7
- Rentable Area: 6,000 SF
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Nassau Veterinary Clinic
Nassau, NY
Investment Highlights
- Sales Price: $1,550,000
- Cap Rate: 7.25%
- Years Remaining: 7
- Lot Size: 6.0 Acres
- Market: Nassau, New York
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, Community Veterinary Partners (Nassau Veterinary Clinic) investment property located in Nassau, New York. The tenant, CVP Operations NY, LLC, has over 7 years of lease term remaining with 2 (5-year) options to extend. The lease features rare 2% annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Founded in 2009, CVP provides operational support to 50 hospitals in 10 states, allowing veterinarians to focus on practicing medicine.
Location
Community Veterinary Partners (Nassau Veterinary Clinic) is located just off U.S. Highway 20, a primary commuter thoroughfare for the trade area averaging 103,300 vehicles passing by daily. The property benefits from excellent visibility via significant street frontage and a large monument sign. The sire is within close proximity to on/off ramp access to Interstate 90 (26,700 vehicles per day), a major east/west highway that serves as a gateway to major markets throughout the Northern United States. Additionally, the asset is 1.5 miles southeast of a brand-new, $100 million Amazon Distribution Center. Sitting on 115 acres, the new development features a 1.02 million SF Class A industrial facility that employs over 800 employees. Furthermore, there is extremely limited competition in the trade area with the asset being one of the only veterinary hospital options for the city of Nassau. The 5-mile trade area is supported by more than 18,700 residents and 4,700 daytime employees with an affluent average household income of $103,280.
