Attributes

Asking price

A$3,660,000

Cap rate

6.5%

WALT

4.9 years

Building area net

975 m²

Land area net

0.2 ha

Annual escalation

Fixed

Year built

1987

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee-simple interest in the free standing, two-tenant, Austin Vet Care at Metric (the "Property" or "Asset") located at 12419 Metric Blvd in Austin, TX. Home to two nationally recognized operators of scale, the tenants operate on individual leases with 3.00% annual rent escalations and a weighted average lease term of ±4.9 years.

The Asset comprises 10,500 SF and sits on a 0.5-acre parcel in North Austin, equidistant to both Mopac Expy and Interstate-35, two of central Texas’s busiest roadways. The Property operates through independent service offerings between three distinct business lines. Thrive Pet Healthcare (“Thrive”) offers Pet Wellness Exams, Emergency Care, and Ophthalmology efforts through Eye Care for Animals and Austin Vet Care. While National Veterinary Associates (“NVA”) offers Pet Training, Daycare, and Boarding services through the Taurus Academy. This unique Asset is strategically positioned to serve as a trusted “one-stop-shop”, delivering integrated veterinary care and specialized treatment plans for pets in the growing Austin market through two of the largest veterinary operators in the United States.

This offering provides investors with the opportunity to acquire a dominant Asset with secure, long-term cash flow. The Asset is strategically positioned to capitalize on Austin’s rapid expansion and the durable growth of the veterinary care industry. Its location in an affluent, high-growth submarket provides a clear path for long-term value creation through its two national operators.

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Investment Highlights

Two National Operators: This property showcases a unique offering including NVA and Thrive Pet Healthcare, two of the largest veterinary operators in the United States
Ideal Passive Lease Structure: Both NVA and Thrive have structured landlord friendly leases with limited ongoing-expenses and 3% annual increases, offering the ideal passive investment in a tax-free state.
Rapid Growth: Austin, TX surpassed 1 million residents in 2025 according to the United States Census Bureau and is now the 12th most populous city in the United States.
Attractive Rental Escalations: The lease structures between the two tenants provides predictable revenue growth through built-in rental escalations of 3% annually throughout the lease term.
High-Traffic Location: The property benefits from exceptional regional accessibility via Interstate-35 access and the intersection of W Parmer Ln and Metric Blvd, with visibility to a combined 75,000+ VPD.
Strong Demographics: The local area boasts exceptional potential with an average household income of $100,000+ within a 1, 3, and 5-mile radius and 325,000+ residents, supported by Austin’s ranking as the 5th most populous city in Texas.
Thriving Submarket – The Domain: Situated just 2.5-miles northeast of The Domain, a 7.5 million-square-foot mixed-use development that hosts over 100 stores, Class A office, and 3,000+ residential units.
High-Density Pet Owner Residential Base: With the surrounding area being home to over 130,000 individuals and 41,800+ multifamily units, the tenant's client base poses strong demand and retention.