Listed by Marcus & Millichap - Austin
$418,888
Best Friends Animal Hospital (Heartland Vet)
Details
APN 58507
Property Type Retail, Office
Sub Type Storefront, Medical Office
Square Footage 4,080
Net Rentable (SqFt) 4,080
Units 1
Cap Rate 9.21%
NOI $38,563
Occupancy 100%
Tenancy Single
Lease Type Gross
Lease Term 10
Lease Expiration 03/19/2029
Remaining Term 3
Rent Bumps No
Price per SqFt $103
Year Built 2010
Year Renovated 2021
Buildings 1
Acreage 0.640
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/19/2019
Ground Lease No
Sale Condition For sale by owner
Vet Clinic | Gross Lease | Recently Renovated | Bite-Sized Price Point
Marketing description
Office • 1 Unit • 10/02/2008
Investment highlights
Best In Class Tenant - Corporate guarantee by Heartland Veterinary Partners. The company operates over 300 partner practices in more than 30 states across the U.S.
Recently Renovated - The tenant recently completed roof renovations and interior repairs in 2021.
Strong Population - Located just outside the New Orleans MSA. The MSA has a population of over 972,000, while Houma-Bayou Cane- Thibodaux population exceeds 198,000.
High-Income Area - The 1-mile average household income is ±$71,000. The 3 & 5-mile average household income both exceed $75,000.
Veterinary Growth Market - The U.S veterinary services market was estimated at $36.5 billion in 2024, and is projected to grow to around $68 billion by 2033 (Grand View Research).
Listing Contacts
Listed by Marcus & Millichap - Austin
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$38,563.00
$3,213.58/mo
Valuation Metrics
0
DSCR
9.21%
Cap Rate
9.21%
ROI
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