Thrive - Hickory Small Animal Hospital
Independence, LA
Thrive - Hickory Small Animal Hospital
- Price: $306,000
- Cap Rate: 10%
- Years Remaining: 3.5
- Rentable Area: 4,050 SF
Investment Highlights
- Sales Price: $306,000
- Cap Rate: 10%
- Years Remaining: 3.5
- Lot Size: 1.25 Acres
- Market: Independence, Louisiana
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 an NN leased, freestanding, Hickory Small Animal Hospital investment property located in Independence, Louisiana. The Tenant, Thrive, has over 4 years remaining in their initial term with 4 (5-Year) options to extend. The lease features annual rental increases based on the total percentage increase in the CPI throughout the initial term and option periods, steadily growing NOI, and hedging against inflation. The lease is a double net with limited landlord responsibilities of repair and maintenance of foundation, exterior walls, roof, and other structural & wood-destroying insect treatment and repairs, making it an ideal, low-management investment opportunity for a passive investor. Thrive is aiming to revolutionize veterinary care for pets and the people who love them through the world’s most trusted, innovative, and connected pet healthcare network.
Location
Hickory Small Animal Hospital is strategically located off of West Railroad Avenue, which averages over 5,700 vehicles passing by daily. The site benefits from superior visibility via significant street frontage and a wall sign facing the street. The location is in the heart of Independence and 11 miles away from Hammond, which is the largest city in Tangipahoa Parish, Louisiana. Its population was 21,359 at the 2020 population estimates program and is home to Southeastern Louisiana University. The 5-mile trade area is supported by a population of 11,372 and 1,604 daytime employees with an average household income of $53,748.
