Pet Vet
Corp. Pet Vet Animal Hospital - Queens, NY - 8.15% Cap - 2.5% Annual Increases - Value Add Component
Marketing description
• The offering presents an excellent mixed-use investment opportunity consisting of 1 residential unit and 1 retail unit
• The offering also features an 800 SF basement, which PetVet uses for their business practices
• The asset is 100% occupied with long-term commitment to the site
• PetVet, who occupies the first floor, features scheduled 2.50% annual rental increases throughout their initial term and their 2 (5-year) option periods
• The property is positioned in a highly desirable retail location with direct access to major residential communities, retail, and commuter routes
• Owner offers a NNN master lease for the residential unit at $2,732/month with 2.50% annual rental increases - coterminous with PetVet - leaving zero management for the buyer
• The asset can be offered without residential master lease, leaving opportunity to increase residential rents which are currently below market
Investment highlights
Excellent Mixed-Use Property | 100% Occupied | Scheduled Rent Increases | Tremendous Value & Unique Investment
NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
Extensive Recent Property Renovations
Dense Retail Corridor | Strong Tenant Presence | Direct Access to Public Transportation
Direct Residential Consumer Base | Strong Nearby Demographics | Affluent Community | Pet Lovers | Queens NYC
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