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29981338
29981339

4110 Bayswater Rd, Winterville, NC 28590 For Sale

AE
CA - 0255475, (CA) -02055475
Matthews
MM
CA CA 01982943
Matthews
RC
CA CA 01986299
Matthews
Listed by Matthews
$2,560,608
35 days on market
Updated 35 days ago

Mission Pet Health | 8+ Yr NNN Veterinary Hospital

Details
Property Type Office
Sub Type Medical Office, Animal (+1)
Square Footage 10,000
Cap Rate 6.25%
NOI $160,038
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 06/30/2034
Remaining Term 7.9
Rent Bumps Yes
Lease Options Five, 5-Year Options
Price per SqFt $256
Class A
Year Built 2016
Buildings 1
Stories 1
Acreage 1.370
Investment Type Net Lease
Lease Commencement 06/18/2019
Ownership Fee Simple

2.5% Bumps | Prime NC Location | Corporate Animal Hospital

Marketing description

Single-tenant veterinary clinic leased to Mission Pet Health with ±8.36 years remaining on an NNN lease. ±10,000 SF building on 1.37 acres, priced at $2,560,608 (6.25% cap rate, $160,038 NOI). Features 2.5% annual rent increases and five (5), five (5) year renewal options. Prime Winterville, NC location with strong demographics and minimal landlord responsibilities.

Investment highlights

  • Stable Investment - There are over ±8 years remaining on the NNN lease featuring built-in annual rent bumps of 2.5% annually and five (5), five (5) year options to extend the lease.

  • Healthcare Real Estate | Recession Resistant Property - Veterinary Hospitals are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.

  • Prime Location - The ±10,000 SF practice is ideally located along Bayswater Rd, offering excellent visibility and easy access to transportation routes, including US-264 and NC-11.

  • Comprehensive Services | Multi-Doctor Location - Firetower Animal Clinic offers a range of veterinary services, including wellness and preventative care, cardiology, endocrinology, microchipping, diagnostics, surgeries, and urgent care. Its diverse revenue streams provide stability and potential for growth in various service areas.

  • Tenant Investment in Location - Pet Hospitals rarely relocate due to the difficulty of retaining the same patients in a new location and the high costs associated with moving and build-outs.

  • Concentrated Corridor - The property is surrounded by a mix of residential communities, schools, parks, hospitals, and major retailers, including Target, Walmart Supercenter, Trader Joe’s, Sam’s Club, Lowe’s, Publix, Walton Academy, and Wintergreen Medical Center all just ±3 miles away.

  • Scheduled Rental Increases | Built-In Inflation Protection - The lease includes annual rent escalations of 2.5%, ensuring steady growth in cash flow and a natural hedge against inflation for the future owner.

  • Very Passive Lease Structure - There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.

  • Robust Growth Industry - The global veterinary services market size is expected to reach $142 Billion by 2026, with a CAGR of 5.6% during that period.

Listing Contacts

AE
CA - 0255475, (CA) -02055475
Matthews
MM
CA CA 01982943
Matthews
RC
CA CA 01986299
Matthews
Listed by Matthews

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$160,038.00
$13,336.50/mo

Valuation Metrics

0
DSCR
6.25%
Cap Rate
6.25%
ROI

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Additional Information

Name
Gerard Hamas
License
362768/C42113 (NC)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889 0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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