Listed by SURMOUNT
$2,774,234
Thrive Petcare Queens NY - 2% Bumps - NYC MSA
Details
Property Type Office
Sub Type Medical Office, Veterinary hospital
Square Footage 3,300
Cap Rate 6.75%
NOI $187,260
Occupancy 100%
Tenancy Single
Brand/Tenant Thrive Petcare
Lease Type NN
Lease Term 10
Lease Expiration 08/31/2032
Remaining Term 6.2
Price per SqFt $841
Year Built 1930
Acreage 0.060
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2022
Ownership Fee Simple
Office | 6.75% CAP | 3,300 SqFt
Investment highlights
- Great Site Level Performance | This site boasts extremely strong site-level economics, including EBITDAR coverage and overall sales volume. Inquire with the listing agent for more information.
- Corporate Guarantee | This lease features a corporate guarantee from Thrive Pet Healthcare. Thrive Pet Healthcare is a leading owner and operator of over 340 general practice, specialty, and emergency veterinary hospitals throughout the U.S. and operates over 115 veterinary clinics, which provide convenient care to under-served pet families. The company was bought by TSG Consumer, a global leader in consumer-focused investing with over $16 billion of assets under management.
- E - Commerce & Recession - Resistant Property | Veterinary properties are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
- Robust Industry Growth | The global veterinary care market size was estimated at USD 87.3 billion in 2023 and is projected to grow at a compounded annual growth rate of 8.0% from 2024 to 2030. The rising incidence of chronic diseases in pets and animal drives the needs for improved veterinary care, fueling market demand.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$187,260.00
$15,605.00/mo
Valuation Metrics
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DSCR
6.75%
Cap Rate
6.75%
ROI
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