PetVet - Pacific Crest Equine | NNN Leased | 5 Years
About This Property for Sale
Marketing description
We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, Pacific Crest Equine & Pacific Crest Companion Animal Veterinary Hospital investment property located in Exeter, California. The Tenant, PetVet, has more than 5 years remaining. The tenant recently executed their first option period of 5 years and has one (1) 5-year option to extend. The lease features annual rental increases of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. With more than 450 locally-led General Practice, Specialty, Emergency, and Equine hospitals, PetVet Care Centers offers outstanding care across the country.
Pacific Crest Equine & Pacific Crest Companion Animal Veterinary Hospital is strategically located on E Myer Avenue. The site benefits from superior visibility via significant street frontage and a monument sign situated along E Myer Avenue. It shares this busy Exeter area with businesses like Starbucks, Mc Donalds, A&W, Taco Bell, and Subway. The location benefits from the frequent street traffic of E Myer Avenue, which sees 6,084 vehicles daily. The 5-mile trade area is supported by a population of 24,648 and 6,084 daytime employees with an average household income of $111,073.
Investment highlights
• More than 5 years remaining on the current tenant’s lease.
• The current Tenant has one (1) 5-Year Option to extend, tenant renewed early one of their options periods. Lease expiration is now December 31, 2031.
• The lease features annual rental increases of 2%
• Superior street visibility via significant street frontage and a large monument sign situated along E Myer Ave
• Strategically located off of E Myer Ave, which averages 824 vehicles passing by daily
• More than 24,648 residents and over 6,084 employees support the 5-mile trade area
• Those within 1-mile of the subject property boast an affluent average household income of $98,222
• Populated business thoroughfare shared with Starbucks, McDonalds, A&W, Taco Bell, Subway
• NNN lease with limited landlord responsibilities of repair / replacement of roof, structure, walls, and foundation
• Ideal, low-management for a passive investor
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