West Jefferson Animal Hospital
- Price: $1,250,000
- Cap Rate: 6.36%
- Years Remaining: 8
- Rentable Area: 4,200 SF
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West Jefferson Animal Hospital
West Jefferson, OH
Investment Highlights
- Sales Price: $1,250,000
- Cap Rate: 6.36%
- Years Remaining: 8
- Lot Size: 0.40 Acres
- Market: West Jefferson, Ohio
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, animal hospital investment property located in West Jefferson, Ohio. The tenant, Midwest Veterinary Partners, LLC, recently signed a 10-year lease (8 years remaining) with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features 2% rental increases throughout the term, steadily growing NOI and hedging against inflation. The lease is absolute NN with landlord responsibilities limited to maintaining roof, structure, and replacing HVAC and mechanical systems. The lease is signed by Midwest Veterinary Partners LLC, operating under the name Mission Veterinary Partners, who currently has a network of over 175 animal hospitals in 27 different states.
Location
West Jefferson Animal Hospital is located on the hard corner intersection of S Heath Lane and East Main Street (14,600 vehicles per day). East Main Street is the main retail thoroughfare of West Jefferson, and connects the city to Columbus, OH, and many of its Western suburbs. Surrounding national/credit tenants include Dollar General, Family Dollar, McDonalds, Advanced Auto Parts, Circle K, and more. The subject site benefits from significant street frontage that results in excellent visibility, and has multiple access points to both East Main Street and East Pearl Street, allowing ease of access for customers. The 5-mile trade area is supported by over 16,000 residents and 3,700 employees, with an affluent average household income of $98,224.
