PetSuites - 2% Annual Rent Increases - NVA Guarantee
2% Annual Rent Increases | NVA Guarantee | 6.00% CAP | 10,927 SqFt
Marketing description
Fortis is please to present this PetSuites facility located in Virginia Beach, VA, represents a strong passive investment backed by a long-term, corporate-guaranteed lease. Built in 2021, the 10,927 SF building operates under an absolute NNN lease with 15.75+ years of term remaining and 2% annual rent increases, providing investors with reliable income growth and zero landlord responsibilities. The lease is guaranteed by National Veterinary Associates (NVA), one of the nation’s largest and most established veterinary and pet care operators.
Strategically positioned along Pleasant Valley Road—seeing approximately 3,446 VPD and just off Lynnhaven Parkway with 21,630 VPD—the property benefits from strong visibility and seamless access. The surrounding five-mile trade area is both affluent and heavily populated, with 267,000+ residents and an average household income of $94,000, supporting steady demand for high-quality pet care services. Combined with PetSuites’ proven operating model and the strength of the Virginia Beach market, this asset offers investors long-term stability, predictable rent growth, and a recession-resistant service-based tenancy.
Investment highlights
Long-Term, Absolute NNN Lease: 20-year lease with 15.75 years remaining, ensuring stable, predictable income with zero landlord responsibilities.
Corporate Guarantee: Lease backed by National Veterinary Associates (NVA), one of the largest veterinary and pet care operators in the U.S.
Built in 2021: Modern, built-to-suit 10,927 SF facility with turnkey operations.
Annual Rent Growth: Lease includes 2% annual rent increases, providing built-in income growth.
Prime Location & Visibility: Located on Pleasant Valley Road near Lynnhaven Parkway, with strong traffic counts and high exposure.
Strong Demographics: 5 mile population of 267,000 residents with an average household income of $94,000, supporting a stable customer base.
Recession-Resistant Tenant: Pet care services are largely insulated from economic downturns, offering a durable, service-oriented investment.
Stable, Turnkey Investment: Fully leased asset in a high-demand Virginia Beach corridor, ideal for long-term investors seeking passive cash flow.
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