Listed by Atlantic Capital Partners
$4,984,000
Veterinary Emergency Group | Tampa, FL
Details
Property Type Retail
Sub Type Day Care/Nursery, Storefront
Square Footage 5,511
Cap Rate 5.75%
NOI $286,572
Occupancy 100%
Tenancy Single
Brand/Tenant Heartland Dental, Veterinary Emergency Group
Lease Type Absolute NNN
Lease Term 12.1
Lease Expiration 05/31/2037
Remaining Term 11
Rent Bumps Yes
Lease Options 2 x 5-year options
Broker Co-Op Yes
Class A
Year Built 2025
Buildings 1
Stories 1
Acreage 1.430
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/03/2025
Ground Lease No
Ownership Fee Simple
5.75% CAP | CORP 12 YEAR ABS NNN | TAMPA MSA
Investment highlights
OPTIMAL LEASE STRUCTURE
- 12-year lease with 10% bumps every 4 years and ~12% in option periods
- Absolute NNN lease providing zero landlord responsibilities
- Passive investment
STRONG CORPORATE GUARANTEE
- Veterinary Emergency Group operates 120+ emergency hospitals across 20+ states
- Founded in 2014 and headquartered in White Plains, NJ
- Scaled rapidly nationwide with a standardized hospital model focused solely on emergency medicine
TAMPA MSA
- One of the fastest-growing large MSAs in the Southeast
- Tampa-St. Petersburg-Clearwater MSA has grown ~15%+ since 2010, outpacing the US average significantly
- Consistently ranks among the top net domestic migration markets in the country, fueled by the Midwest and Northeast
PET INDUSTRY GROWTH & EMERGENCY CARE DEMAND TAILWINDS
- US pet industry has grown to $147B+ annually (2023), nearly doubling over the past decade
- Over 66% of US households (86M+) own a pet
- Veterinary spending has increased at a ~8–10% CAGR in recent years
- Tampa ranks among Florida's largest and fastest-growing pet ownership markets
INFILL LOCATION
- 12 miles from downtown Tampa
- Within a 1-mile radius there is over 1M SF of retail
- Site benefits from a limited retail supply pipeline and the dense residential neighborhoods of Carrollwood Village and Carrollwood Meadows
DENSE SURROUNDING RETAIL
- In the top 25% of Pet Stores & Services nationwide (Placer.ai)
- Excellent exposure along a major retail and commuter corridor
- Unmatched visibility along Dale Mabry Highway with over 46,500 VPD
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$286,572.00
$23,881.00/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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