CareVet - The Veterinary Clinic, PC
- Price: $480,506
- Cap Rate: 8.66%
- Years Remaining: 8
- Rentable Area: 6,288 SF
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CareVet - The Veterinary Clinic, PC
Fairfield, IA
Investment Highlights
- Sales Price: $480,506
- Cap Rate: 8.66%
- Years Remaining: 8
- Lot Size: 0.85 Acres
- Market: Fairfield, Iowa
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 NNN leased, freestanding, The Veterinary Clinic, PC investment property located in Fairfield, Iowa. The Tenant, CareVet, has over 8 years remaining in their initial term with 2 5-Year options to extend. The lease features annual increases of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 100 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
Location
The Veterinary Clinic, PC is strategically located on West Burlington Avenue. The site benefits from superior visibility via significant street frontage and a monument sign situated along West Burlington Avenue. It shares this busy Fairfield area with businesses like Starbucks, Dollar Tree, and Walmart. The location benefits from the frequent street traffic of West Burlington Avenue, which sees 7,444 vehicles daily. The 5-mile trade area is supported by a population of 11,350 and 8,887 daytime employees with an average household income of $85,170.
