Frankenmuth - Birch Run Veterinary Hospital | NNN | 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, Frankenmuth-Birch Run Veterinary Hospital investment property located in Birch Run, Michigan. The Tenant, CareVet, has 5 years remaining in their extended term with 3 (three) 5-year options to extend. The lease features annual rental increase of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
Frankenmuth-Birch Run Veterinary Hospital is strategically located on S Gera Road. The site benefits from superior visibility via significant street frontage and a monument sign situated along S Gera Road. It shares this busy Birch Run area with businesses like Mc Donalds, Taco Bell, Subway, Burger King, and Tim Hortons. The location benefits from the frequent street traffic of S Gera Road, which sees 10,939 vehicles daily. The 5-mile trade area is supported by a population of 14,201 and 9,057daytime employees with an average household income of $123,629.
Investment highlights
• More than 5 years remaining in their extended term
• CareVet has 3 (three) 5-Year options to extend
• The lease features flat annual rental increases of 2%
• Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states
• Superior street visibility via significant street frontage and a large monument sign situated along S Gera Rd
• Strategically located off of S Gera Rd, which averages 10,939 vehicles passing by daily
• More than 14,201 residents and over 9,057 employees support the 5-mile trade area
• Those within 1-mile of the subject property boast an affluent average household income of $216,069
• Populated business thoroughfare shared with Mc Donalds, Taco Bell, Subway, Burger King, Tim Hortons
• NNN lease with limited landlord responsibilities of roof, structure, foundation, and parking lot
• Ideal, low-management for a passive investor
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