CareVet - Frankenmuth-Birch Run Veterinary Hospital - Birch Run, MI
CareVet - Frankenmuth-Birch Run Veterinary Hospital
- Price: $880,000
- Cap Rate: 9.17%
- Years Remaining: 5
- Rentable Area: 3,382 SF
Investment Highlights
- Sales Price: $880,000
- Cap Rate: 9.17%
- Years Remaining: 5
- Lot Size: 2.83 Acres
- Market: Birch Run, Michigan
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, Frankenmuth-Birch Run Veterinary Hospital investment property located in Birch Run, Michigan. The Tenant, CareVet, has 5 years remaining in their extended term with 3 (three) 5-year options to extend. The lease features annual rental increase 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 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
Location
Frankenmuth-Birch Run Veterinary Hospital is strategically located on S Gera Road. The site benefits from superior visibility via significant street frontage and a monument sign situated along S Gera Road. It shares this busy Birch Run area with businesses like Mc Donalds, Taco Bell, Subway, Burger King, and Tim Hortons. The location benefits from the frequent street traffic of S Gera Road, which sees 10,939 vehicles daily. The 5-mile trade area is supported by a population of 14,201 and 9,057daytime employees with an average household income of $123,629.
