Listed by Matthews
$3,003,100
Mission Pet Health - 10 Yr NNN Lease | 7% Cap
Details
Property Type Office
Sub Type Medical Office, Veterinary
Square Footage 6,800
Cap Rate 7.00%
NOI $210,217
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 10/31/2035
Remaining Term 9.4
Rent Bumps Yes
Lease Options One (1), five (5) year option to extend the lease
Price per SqFt $442
Year Built 2002
Buildings 1
Acreage 2.030
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/20/2020
Ownership Fee Simple
Corporate Guaranty | Chicago MSA
Investment highlights
- Stable Investment - There are just under 10 years remaining on the NNN lease featuring built-in annual rent bumps of 2% annually and one (1), five (5) year option to extend the lease.
- Prime Location - 1881 South Randall Road is strategically located in Geneva, Illinois within the Chicago MSA, offering strong visibility along a major retail corridor, established surrounding tenancy, and convenient access to key transportation routes. The property benefits from dense surrounding residential development, strong household incomes, and proximity to national retailers and daily-needs traffic drivers.
- Scheduled Rental Increases | Built-In Inflation Protection - The lease includes annual rent escalations of 2%, ensuring steady growth in cash flow and a natural hedge against inflation for the future owner.
- 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.
- National Platform Operator - Mission Pet Health is one of the largest and most established veterinary platforms in the industry, supporting locally led animal hospitals with operational expertise, clinical resources, and continued investment, driving long-term stability and high-quality patient care.
- 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.
- Very Passive Lease Structure - There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- Robust Growth Industry - The global veterinary services market size is expected to reach $142 billion by 2026, with a CAGR of 5.6% during that period.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$210,217.00
$17,518.08/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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