Rock Springs Wyoming
- Price: $1,725,000
- Cap Rate: 6.74%
- Year Built: 2005
- Rentable Area: 5,520 SF
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Mountainaire Animal Clinic
Rock Springs, Wyoming
Investment Highlights
- Sales Price: $1,725,000
- Cap Rate: 6.74%
- Years Remaining: 8.75
- Net Operating Income: $116,280
- Annual Increases: 2%
- Lot Size: 1.70 Acres
- Options: 3 (5-year)
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, Mountainaire Animal Clinic (PetVet Care Centers) investment property located in Rock Springs, Wyoming. The tenant, Mountainaire Animal Clinic Rock Springs, LLC, has approximately 8.75 years remaining in their initial term with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. With more than 260 general, specialty and emergency hospitals, PetVet Care Centers is a nationwide veterinary network with a solid commitment to pets and their owners in every community they serve.
Location
Mountainaire Animal Clinic is strategically located along Yellowstone Road, a major commuter thoroughfare traveling through Rock Springs, averaging 6,000 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign along Yellowstone Road. The clinic is ideally positioned across the street from Paul J. Wataha Recreation Area, a popular community park with a large amount of grass area for pet-owners to walk/run with their dogs. There is virtually no competition in the surrounding 5-mile trade area, providing the animal hospital with a consistent consumer base in Rock Springs. The 5-mile trade area is supported by more than 26,000 residents and 14,000 daytime employees. Residents within 1 mile of the subject property boast an affluent average household income of $108,000.
