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31674281
31674282

1033 Seminola Blvd, Casselberry, FL 32707

BW
CA CA 01952225
Brian Wine
Listed by Brian Wine
$706,200
57 days on market
Updated 57 days ago

Animal Clinic of Casselberry | Modified Gross Leased | 2 Yrs

Details
APN 09-21-30-5BM-0B00-003A
Property Type Retail
Sub Type Animal Hospital, Office - Medical (+1)
Square Footage 2,970
Cap Rate 8%
NOI $56,496
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Term 5
Lease Expiration 08/30/2028
Remaining Term 2.2
Rent Bumps Yes
Lease Options 2 (5 Year)
Price per SqFt $238
Year Built 1980
Buildings 2
Acreage 0.540
Zoning CS
Parking Spaces 6 spaces
Parking Per SqFt 2.02
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/24/2023
Ownership Simple Interest

Retail | 8.00% CAP | 2,970 SqFt

Marketing description

We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a modified gross leased, freestanding, Animal Clinic of Casselberry investment property located in Casselberry, Florida. The Tenant, Heartland Veterinary Partners, has over 2 years remaining in their initial term with 2 five (5) year options to extend. The lease features annual rental increases of 1%. The lease is modified gross with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Heartland Veterinary Partners is a veterinary management company that aims to support veterinary practices and their owners. The company was founded in 2017 and is headquartered in Chicago, Illinois, with offices in various locations across

the United States.

Animal Clinic of Casselberry is strategically located on Seminola Boulevard. The site benefits from superior visibility via significant street frontage and a monument situated along Seminola Boulevard. It shares this busy Casselberry area with businesses like Pizza hut, 7-11, Mobil, Circle K, Dollar General. The location benefits from the frequent street traffic of Seminola Boulevard, which sees 19,863 vehicles daily. The 5-mile trade area is supported by a population of 224,844 and 109,959 daytime employees with an average household income of $114,292.

Investment highlights

• Heartland Veterinary Partners has over 2 years remaining in their initial term

• Heartland Veterinary Partners has 2 Five (5) Year options to extend

• The lease features annual rental increases of 1%

• Heartland Veterinary Partners was founded in 2017 and is headquartered in Chicago, Illinois, with offices in various locations across the United States

• Superior street visibility via significant street frontage and a large monument sign situated along Seminola Blvd

• Strategically located off of Seminola Blvd, which averages 19,863 vehicles passing by daily

• More than 224,844 residents and over 109,959 employees support the 5-mile trade area

• Those within 1-mile of the subject property boast an affluent average household income of $88,583

• Populated business thoroughfare shared with Pizza hut, 7-11, Mobil, Circle K, Dollar General

• Modified Gross lease with limited landlord responsibilities of CAM (Common Area Maintenance); Exterior; HVAC; Insurance; Mechanical Systems; Parking Lot; Roof; Structure

• Ideal, low-management for a passive investor

Listing Contacts

BW
CA CA 01952225
Brian Wine
Listed by Brian Wine

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$56,496.00
$4,708.00/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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