Listed by Matthews
$3,943,143
Mission Pet Health | 7% Cap Rate | Florida
Details
Property Type Retail, Office
Sub Type Medical Office, Veterinary
Square Footage 15,006
Cap Rate 7%
NOI $276,020
Occupancy 100%
Lease Type NNN
Remaining Term 5.1
Year Built 2009
Year Renovated 2019
Buildings 3
Acreage 1.120
Tenant Credit Corporate Guarantee
Ground Lease No
Corporate Animal Hospital Portfolio (2)
Investment highlights
- Stable Investment – There are just under 5 years remaining on the NNN leases, featuring built-in annual rent bumps of 2% and one (1), five (5) year renewal option at each location.
- Prime Coastal Locations – The portfolio spans three high-growth markets in the Florida Panhandle: Destin and Fort Walton Beach. Each asset benefits from strong tourism, population growth, and proximity to major corridors including US-98, supporting consistent demand for veterinary services.
- Scheduled Rental Increases | Built-In Inflation Protection – The leases include annual rent escalations of 2%, providing steady income growth and a natural hedge against inflation.
- Healthcare Real Estate | Recession-Resistant Property – Veterinary assets are considered highly resilient, supported by nondiscretionary pet care spending and strong industry fundamentals even during economic downturns.
- Established Veterinary Operators – The portfolio is anchored by experienced operators at Destin Animal Clinic and Companion Animal, each with an established presence and loyal client base within their respective communities.
- Tenant Investment in Location – These purpose-built facilities are critical to ongoing operations, with significant tenant investment in specialized build-outs, reducing relocation risk and supporting long-term tenancy.
- Very Passive Lease Structure – The NNN lease structure minimizes landlord responsibilities, offering a passive investment opportunity for both local and national investors.
- Strong Industry Fundamentals – The global veterinary services market continues to expand, projected to reach over $140 billion by 2026, driven by increasing pet ownership and higher spending on animal healthcare.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$276,020.00
$23,001.67/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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