Monroeville Pet Hospital | Community Veterinary Partners
Special Purpose | 7.73% CAP | 2,201 SqFt
Marketing description
Monroeville Pet Hospital is a ±2,201 SF veterinary practice located at 232 Center Rd, Monroeville, PA 15146. This healthcare real estate investment features a newly executed NNN lease with CVP Operations PA, LLC, backed by a corporate guarantee from CVP Holdco, Inc. The property is well positioned off Center Road with direct street frontage and easy access from the main thoroughfare, seeing more than ±11,200 vehicles per day. The property benefits from convenient access to Interstate 376, providing connectivity to major cities including Pittsburgh, PA just ±15-miles away.
The lease commenced December 18, 2023 and expires December 31, 2033, offering approximately 7.7 years of term remaining with 3% annual rental increases and three (3), five (5) year options to extend. The stable lease structure provides minimal landlord responsibilities, with landlord only responsible for roof and structure, making this a very passive investment opportunity.
Community Veterinary Partners (CVP) is a network of veterinary hospitals with more than 140 animal practices, emergency hospitals, and specialty clinics across the United States. The property is surrounded by a mix of residential communities, schools, parks, hospitals, and major retailers including Target, Giant Eagle, Lowes, Marshalls, LA Fitness, At Home, and Monroeville Mall just ±2 miles away. The asset caters to nearly 130k residents within a 5-mile radius who boast an average household income of over $86k.
Investment highlights
- STABLE LONG-TERM INVESTMENT | NNN LEASE - There are just under ±8 years remaining on the NNN lease with 3% annual increases and three (3), five (5) year options to extend the lease.
- SCHEDULED RENTAL INCREASES | HEDGE AGAINST INFLATION - The lease features 3% annual rental escalators, providing a future owner with a boost in cash flow and a hedge against inflation throughout the life of their investment.
- HEALTHCARE REAL ESTATE | RECESSION RESISTANT PROPERTY - Veterinary Hospitals are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
- VERY PASSIVE LEASE STRUCTURE - There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- TENANT INVESTMENT IN LOCATION - Pet Hospitals rarely relocate due to the difficulty of retaining the same patients in a new location and the high costs associated with moving and build outs.
- PRIME LOCATION - The ±2,201 SF practice is well positioned off Center Road with direct street frontage and easy access from the main thoroughfare, seeing more than ±11,200 vehicles per day. The property benefits from convenient access to Interstate 376, providing connectivity to major cities including Pittsburgh, PA just ±15-miles away.
- CONCENTRATED CORRIDOR - The property is surrounded by a mix of residential communities, schools, parks, hospitals, and major retailers including Target, Giant Eagle, Lowes, Marshalls, LA Fitness, At Home, and Monroeville Mall just ±2 miles away.
- FAVORABLE DEMOGRAPHICS - The asset caters to nearly 130k residents within a 5-mile radius of the site who boast an average household income of over $86k.
- COMPREHENSIVE SERVICES | MULTI-DOCTOR LOCATION - Monroeville Pet Hospital offers a range of veterinary services including dental, radiology, dermatology, cardiology, tonometry, ultrasounds, and endocrinology services. Its diverse revenue streams provide stability and potential for growth in various service areas.
- COMMUNITY VETERINARY PARTNERS | CORPORATE GUARANTEE - CVP is a network of veterinary hospitals dedicated to providing management, operations, and financial support to veterinary professionals with more than 140 animal practices, emergency hospitals, and specialty clinics across the country.
- ROBUST GROWTH INDUSTRY - The global veterinary services market size is expected to reach $142 Billion by 2025, with a CAGR of 5.6% during that period.
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