VetCor - Barnstable Animal Hospital
157 Airport Road, Hyannis, MA
- Price: $1,413,130
- Cap Rate: 6.27%
- Years Remaining: 3
- Rentable Area: 5,824 SF
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VetCore - Barnstable Animal Hospital
Hyannis, MA
Investment Highlights
- Sales Price: $1,413,130
- Cap Rate: 6.27%
- Years Remaining: 4
- Lot Size: .50 Acres
- Market: Hyannis, MA
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 NN leased, freestanding, (VetCor) Barnstable Animal Hospital investment property located in Hyannis, Massachusetts. The tenant, VetCor Of Hyannis LLC, has over 3 years remaining in their initial term with 1 (5-year) option to extend. The lease features 3% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, structure, parking area, and HVAC replacement, making it an ideal, low-management investment opportunity for a passive investor. Since 1997, VetCor has built a helpful, enjoyable, community-oriented veterinary care network of 442 exceptional practices across 34 states.
Location
The subject property is located along Iyannough Road, a major retail and commuter thoroughfare averaging 28,500 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign. The asset is ideally situated within close proximity to Cape Cod Mall, a 723,605 square foot shopping mall. U.S. Highway 28 is the primary retail corridor traveling through Barnstable, featuring a variety of national/credit tenants including Target, Best Buy, Home Depot, Kohl’s, Dollar Tree, Planet Fitness and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by more than 51,000 residents and 32,000 daytime employees. Residents within 3 miles of the subject property feature a healthy average household income of $88,202.
