VCA - Carriage Hills Animal Hospital
- Price: $4,120,000
- Cap Rate: 7.25%
- Years Remaining: 5.5
- Rentable Area: 13,512 SF
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VCA - Carriage Hills Animal Hospital Montgomery, AL
Investment Highlights
- Sales Price: $4,120,000
- Cap Rate:7.25%
- Years Remaining: 5.5
- Lot Size: 1.48 Acres
- Market: Montgomery, Alabama
Contact Broker
Brian Wine
Description
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, VCA Carriage Hills Animal Hospital investment property located in Montgomery, Alabama. The tenant, Carriage Hills Management Services, Inc., recently exercised their option to renew providing for an initial term through December 2025, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed and is NNN with landlord responsibilities limited to structure repair, making it an ideal, low-management investment opportunity for a passive investor. Headquartered in Los Angeles, California, VCA Animal Hospitals have 6,000+ compassionate veterinarians, more than 600 board-certified specialists, and 1,000+ animal hospitals across 46 states and 5 Canadian provinces.
Location
VCA Carriage Hills Animal Hospital is located along Eastern Boulevard/U.S. Highway 80 & 231, a major commuter thoroughfare averaging 46,800 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign along Eastern Boulevard. The property is strategically positioned between Walmart Supercenter and The Home Depot, significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. Eastern Boulevard is the primary retail corridor traveling throughout Montgomery, with a variety of other national/credit tenants including Lowe’s Home Improvement, Sam’s Club, Aldi, Petco, Office Depot, T.J. Maxx, Dollar Tree, and more. In addition, the animal hospital is located just 3 miles east of Baptist Medical Center South, a 454-bed, faith-based acute care regional referral center. Since its founding in 1963, the Medical Center has grown to become Montgomery’s largest medical facility and Baptist Health’s tertiary care center. Moreover, the asset is within walking distance of 7 apartment complexes that include The Fields Carriage Hills (242 units), Bedford Park, Carriage Hills, Fox Crossings (275 units), Court Yards at Garden Glen, Eagle Landing (392 units), and Foxcroft Luxury Apartments (128 units), providing the animal hospital with a direct residential consumer base from which to draw. The 5-mile trade area is supported by more than 149,000 residents and 80,000 daytime employees with an average household income of $67,000.