Affordable Animal Hospital Whittier (10 Year Absolute NNN)
10 Year Absolute NNN Veterinary Hospital Investment | 6.50% Cap Rate | Renovated 2022
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Property & Lease Highlights
• NEW 10-YEAR SALE-LEASEBACK: Brand new lease executed at close of escrow, providing ±10 years of secure income with no near-term rollover risk.
• ABSOLUTE NNN LEASE – ZERO LANDLORD RESPONSIBILITIES: Tenant is responsible for all expenses including taxes, insurance, maintenance, roof, structure, and parking lot; landlord has no obligations, creating truly passive ownership.
• LONG-TERM TENANT ALIGNMENT: Sale-leaseback structure ensures the operator is fully committed to the location, aligning ownership and operational incentives.
• STRONG PERSONAL GUARANTY: Lease is backed by a personal guaranty, providing additional security beyond the operating entity.
• INFLATION HEDGE WITH ANNUAL INCREASES: Lease features annual rent increases equal to the lesser of CPI or 2%, providing consistent income growth while maintaining tenant sustainability.
• EXTENSION OPTIONS: Two (2) additional 5-year options, offering potential for up to 20 years of total occupancy.
• MARKET RENT PROFILE: Rental rate of $25.50/SF supports long-term sustainability and reduces risk of tenant default or relocation pressure.
• RECENT INTERIOR RENOVATION (2022): The property underwent a recent interior remodel, enhancing functionality and demonstrating continued tenant investment in the asset.
Investment highlights
Tenant & Industry Highlights
• ONLY PRIVATELY OWNED VETERINARY HOSPITAL IN THE MARKET: Affordable Animal Hospital Whittier is the only privately owned and operated veterinary hospital in Whittier, California.
• CAPTURING MARKET SHARE FROM CORPORATE OPERATORS: Competing veterinary hospitals are largely owned by national and regional groups with higher standardized pricing, driving clients toward this property for better pricing and personalized care.
• ESSENTIAL SERVICE TENANT: Veterinary hospitals provide non-discretionary healthcare services, generating consistent demand across economic cycles.
• HIGH RELOCATION COSTS: Veterinary facilities require significant capital investment, making relocation unlikely.
• ESTABLISHED COMMUNITY PRESENCE: The hospital has built a loyal client base with strong local ties.
• FAVORABLE SALE-LEASEBACK PROFILE: Owner-operator remains in place, demonstrating long-term commitment.
• STRONG INDUSTRY FUNDAMENTALS: Continued growth in pet ownership and spending supports long-term stability.
Location Highlights
• DENSE INFILL LOS ANGELES SUBMARKET: Whittier is a well-established infill community with limited new development.
• PROXIMITY TO UPTOWN WHITTIER: Located near the Greenleaf Avenue and Philadelphia Street corridor, the city's primary retail and dining hub.
• STRONG REGIONAL CONNECTIVITY: Close access to Whittier Blvd, I-605, and SR-60.
• STABLE, FAMILY-ORIENTED DEMOGRAPHICS: Strong base of long-term homeowners.
• RETAIL-DRIVEN TRADE AREA: Surrounded by national and local retail and service businesses.
• BARRIER TO ENTRY MARKET: High costs and zoning restrictions limit new supply.
• PROXIMITY TO MAJOR EMPLOYMENT HUBS: Access to both Los Angeles and Orange County job centers.
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