Oyster Creek Animal Hospital
Sugar Land, TX
Oyster Creek Animal Hospital
- Price: $2,629,000
- Cap Rate: 5.25%
- Years Remaining: 10
- Rentable Area: 8,900 SF
Investment Highlights
- Sales Price: $2,629,000
- Cap Rate: 5.25%
- Years Remaining: 10
- Lot Size: 1.21 Acres
- Market: Sugar Land, Texas
Contact Broker
Brian Wine
Description
The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land & building) in a NNN leased, freestanding, Oyster Creek Animal Hospital in Sugar Land, Texas (Houston MSA). The tenant, MVP Mayde Creek, LLC, recently signed a brand new 10-year lease with 1 (5-year) option to extend, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term and option period, steadily growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making this an ideal, low-management investment property for a passive investor. Mission Veterinary Partners, formerly known as Midwest Veterinary Partners, is a veterinarian-founded network of 175+ animal hospitals throughout the United States.
Location
Oyster Creek Animal Hospital is strategically located at the signalized, hard corner intersection of Museum Square Drive and New Territory Boulevard, averaging over 18,100 vehicles passing by daily. The asset benefits from nearby direct on/off ramp access to Interstate 69 (123,900 VPD), the primary commuter highway traveling through Sugar Land and into the heart of Downtown Houston. In addition, the site is ideally situated less than 2 miles west of Colony Square Shopping Center, a 441,249 SF neighborhood center anchored by Lowe’s Home Improvement, PetSmart, and Academy Sports and Outdoors. Located within an immense retail corridor, the asset is within close proximity to a variety of national/credit tenants including Target, Costco Wholesale, The Home Depot, Walmart, Sam’s Club, Macy’s, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is nearby to multiple apartment complexes including Brookdale First Colony (264 units), Telfair Lofts (317 units), Regency at First Colony (324 units), and more, providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by over 212,000 residents and 83,500 daytime employees. Residents within a one-mile radius of the property boast an affluent average household income of $197,432.
