PetVet - Monroe Veterinary Clinic
- Price: $1,045,000
- Cap Rate: 7.75%
- Years Remaining: 6
- Rentable Area: 16,509 SF
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PetVet - Monroe Veterinary Clinic
Monroe, MI
Investment Highlights
- Sales Price: $1,045,000
- Cap Rate:7.75%
- Years Remaining: 6
- Lot Size: 0.38 Acres
- Market: Monroe, MI
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN leased, freestanding, Monroe Veterinary Clinic investment property located in Monroe, MI. The Tenant, PetVet, has 6 years remaining in their initial term with 2 5-Year options to extend. The lease features annual rental increases of 3%. The lease is a double net with limited landlord responsibilities of roof, structure, HVAC, and exterior, making it an ideal, low-management investment opportunity for a passive investor. PetVet Care Centers is a network of over 450 Specialty and General Practice Veterinary Hospitals across the nation. Each location is operated locally and supported globally.
Location
Monroe Veterinary Clinic is strategically located on South Dixie Hwy. The site benefits from superior visibility via significant street frontage and a dedicated monument sign situated along South Dixie Hwy. It shares this busy Monroe area with businesses like Family Dollar, Kroger, McDonalds, Tim Hortons, and Wendy’s. The location benefits from the frequent street traffic of South Dixie Hwy, which sees 10,671 vehicles daily. The 5-mile trade area is supported by a population of 48,629 and 23,983 daytime employees with an average household income of $72,463.
