3850 SE Three Mile
US - McMinnville, OR
€4,666,000 | 2,309 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee-simple interest in the Castle Rock Cat Hospital located in Castle Rock, CO (the “Property” or “Asset”). VetCor is operating on a short-term double-net lease with 3% annual rent increases throughout the primary and renewal option periods. VetCor of Castle Rock is a subsidiary of VetCor Holdings, one of the largest private equity backed veterinary service providers in the nation with over 800 locations in 40 states. This investment presents the unique opportunity to acquire a leading veterinary service provider backed asset within one of the fastest growing metros in the country.
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Attributes
Asking Price
€1,317,000
Building area Gross
470 m²
Occupancy
100.00%
Year built
1999
Cap Rate
7.50%
NOI
€99,000
Media
Investment Highlights
- Castle Rock Cat Hospital has an extensive 25-year operating history and was recently purchased by VetCor in 2020
- Features a corporate guaranty from VetCor Group Holdings, one of the largest and most successful veterinary clinic operators in the country
- Includes tenancy with private equity backing in partnership with Harvest Partners + Cressey & Company
- The Veterinary Services market has had significant revenue growth of 11.4% since 2019 and is expected to reach $65.6 billion by 2029
- Located in an affluent area of Denver with 83,300 residents and AHHI of $161K within 5-miles
- Denver is one of the country's most sought-after real estate markets and home to the 6th fastest growing economy in the U.S.
In-State Licensee
Jason Schmidt
License #: CO-EA.001324797
Contact brokers
Castle Rock Cat Hospital - Castle Rock, CO (0 Properties)
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Last updated
18 Apr 2023
