PetSuites - 2% Annual Rent Increases - NVA Guarantee
2% Annual Rent Increases | NVA Guarantee | 6.00% CAP | 10,911 SqFt
Marketing description
Fortis Net Lease is pleased to present a prime investment opportunity in Richmond, Texas. This 10,911 SF PetSuites facility, built in 2021, operates under a 20-year NNN lease with 15.75 years remaining, featuring 2% annual rent increases and a corporate guarantee from National Veterinary Associates (NVA). The property provides investors with turnkey, passive income and long-term stability in a recession-resistant sector.
Located at 5535 Meadow Ranch Parkway, the property enjoys excellent visibility and accessibility just off W Grand Parkway, which carries approximately 15,708 vehicles per day. The surrounding five-mile trade area is affluent and growing, with a population of ~226,000 residents and an average household income of $126,000, providing a strong and sustainable customer base for premium pet care services. With PetSuites’ proven operational model and Richmond’s thriving market, this asset represents a durable, income-producing investment in a high-demand corridor of Fort Bend County.
Investment highlights
Long-Term NNN Lease: 20-year lease with 15.75 years remaining, providing stable, predictable income with minimal landlord responsibilities.
Corporate Guarantee: Lease backed by National Veterinary Associates (NVA), one of the largest veterinary and pet care operators in the U.S.
Modern, Purpose-Built Facility: built-to-suit 2021 construction
Annual Rent Growth: Lease includes 2% annual rent increases, ensuring built-in income appreciation.
Prime Location & Visibility: Situated on Meadow Ranch Parkway just off W Grand Parkway, with ~15,708 VPD, providing excellent exposure and accessibility.
Strong Demographics: Five-mile population of 226,000 residents with an average household income of $126,000, supporting a stable and affluent customer base.
Recession-Resistant Tenant: Pet care services provide durable, service-oriented income largely insulated from economic downturns.
Thriving Submarket: Located in one of Fort Bend County’s fastest-growing and most affluent corridors, ensuring long-term market strength and tenant stability.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
