VCA Henderson Pass Animal Hospital (San Antonio, TX)
VCA ANIMAL HOSPITAL | NNN LEASE | RECENT RENOVATIONS | CORP GUARANTY (1,000+ LOCATIONS)
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Property & Lease Highlights
• Veterinary Centers Of America (VCA) Corporate Guaranty - Lease features a corporate guaranty from VCA, the largest operator of veterinary hospitals in the United States, supporting 1,000+ practices nationwide.
• Global Industry Leader - MARS, INC. - VCA is owned by Mars, Inc., a privately held multinational company with over $50 billion in annual revenue. Mars operates a diverse portfolio including pet care, veterinary services, food, and confectionery, and is ranked as the 4th largest privately held company in the U.S. (Forbes).
• NNN Lease - This NNN lease provides an extremely passive investment vehicle with minimal landlord responsibilities.
• Prime Location – Positioned along Thousand Oaks Drive in North San Antonio, near the Stone Oak submarket, one of the city’s most desirable master-planned communities. The area is characterized by high household incomes, dense residential development, and a strong retail and medical presence.
• Recent Property Renovations – The building underwent an interior renovation in 2022, significantly improving functionality and presentation. Additionally, a new roof was installed approximately two years ago, and the gutters were recently replaced, representing meaningful capital improvements that support long-term durability and ownership.
• Over 10 Years OF AAHA Accreditation – A distinction earned by only about ±15% of veterinary practices in the U.S. This accreditation signifies that the hospital meets or exceeds over 900 rigorous standards for patient care, safety, and operational excellence. Practices that achieve AAHA accreditation often see measurable business benefits – including higher revenue, improved client retention, increased new patient acquisition, and reduced client lapses.
Investment highlights
Tenant Highlights
• Long Term Commitment To The Site – VCA acquired the practice in 1999 and has operated at this location for over 25 years, demonstrating strong tenant stability and a proven commitment to the site.
• Largest Global Veterinary Services Network – Mars Veterinary Health owns and operates ± 3,000 veterinary clinics and hospitals worldwide, including VCA, Banfield Pet Hospital, BluePearl Pet Hospital, and AniCura.
• Tenant Investment In Location - Veterinary hospitals hardly ever relocate due to the high costs associated with moving and difficulty retaining the same patients in a new location. They are also very well insulated from e-commerce competition and resilient to economic downturns.
• Robust Industry Growth - The global veterinary services market, valued at $150 billion in 2024, is projected to grow at a 7.45% CAGR from 2023 to 2030.
• Key Pet Ownership Statistics In The US –
— 72% of households in the US, or 95 million households, own a pet. This increase in pet ownership trend has fueled demand for veterinary services, including preventive care, diagnostics and treatments.
— The average US dog owner spends about $2,524 per year on recurring pet costs.
— People spent $147 billion on pets in 2023, $152 billion on pets in 2024, and $158 billion in 2025.
Location Highlights
• Leading U.S. Market For Population Growth – The San Antonio - New Braunfels metro area is one of the fastest-growing metropolitan areas in the United States, adding approximately 24,000 new residents year-over-year and over 200,000 residents since 2020. Positioned within the Texas Triangle – connecting San Antonio, Austin, Dallas, and Houston- the region benefits from sustained economic growth. Anchored by a diverse economic base including healthcare, military, tourism, and government sectors, San Antonio offers a stable and expanding business environment supported by consistent population growth and strong in-migration trends.
• The Great State of Texas – Texas is the 2nd largest economy in the U.S. with a GDP exceeding $2.7 trillion. A top-ranked business climate with no state income tax, Texas has been recognized as the Best State for Business for the past 21 years by Chief Executive Magazine. Texas’s pro-business policies and resident-friendly regulations have fueled both corporate relocations and population influx. U.S. Census Bureau data shows that between July 1, 2022, and July 1, 2023, Texas added +/- 470,000 new residents.
• Strategic Location – Primely located along Henderson Pass in a dense retail corridor, the property is surrounded by national and regional brands, including H-E-B, Walgreens, McDonald's, and Whataburger, and is within close proximity to a major healthcare hub anchored by Methodist Hospital Stone Oak. Additionally, the immediate area includes a strong concentration of medical offices and neighborhood-serving retail.
• Affluent Demographics – The property caters to over 242,166 residents within a 5-mile radius and 857,006 residents within a 10-mile radius. The average household income within a 2-mile radius is $107,245.
• Development Nearby – A new mixed-use retail development, Stone Oak Mercantile, is currently under construction approximately 3 miles from VCA Henderson Pass Animal Hospital at Stone Oak Parkway and Canyon Golf Road. The ± 57,000-square-foot project is expected to deliver between 2025 and early 2026, with tenants including Chick-fil-A, Black Rock Coffee, and Crust Pizza Co.’s first San Antonio location. Additionally, a 350-unit multifamily development is underway at Loop 1604 and Bulverde Road, approximately 3–4 miles from the subject property.
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