Pine City Animal Hospital
Pine City, MN
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding Pine City Animal Hospital in Pine City, MN (Minneapolis MSA). The tenant has 20 years remaining at the close of escrow with 2 (5-year) option periods left to extend. The lease also features increases of 10% every 5 years. The lease is signed by the corporate entity, and is absolute triple net with no landlord responsibilities making this an ideal, no-management investment opportunity for a passive investor.
Pine City Animal Hospital is strategically located near the signalized, hard corner intersection of Main Street and Hillside Avenue SW, averaging a combined 12,700 vehicles passing by daily. The site also benefits from nearby direct on/off ramp access to Interstate-35 (22,000 vehicles per day), a major north-south route connecting Duluth, MN to the U.S.-Mexico border. The asset is ideally situated within close proximity to a Walmart Supercenter, a premium big-box tenant that significantly increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Other nearby national/credit tenants include NAPA Auto Parts, US Bank, Dollar Tree, O’Reilly Auto Parts, Anytime Fitness, and more. Additionally, the site is directly across from Pine Technical & Community College, a nationally recognized vocational-technical college with over 2,000 students enrolled. Furthermore, the property is near several single-family communities and multi-family complexes including North Ridge (24 units), North Pine (27 units), Westchester Village (60 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 7,400 residents and 2,300 daytime employees, with an average annual household income of $71,287.