Michigan Road Animal Hospital

3845 West 96th Street, Indianapolis, IN, 46268, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire fee-simple interest in a freestanding single-tenant Michigan Road Animal Hospital located at 3845 W 96th Street, Indianapolis, IN ("Property" or "Asset"). The Tenant has ±2.6 years of term remaining on a NN lease structure, annual CPI-based rent increases, and two 5-year option periods.

The Asset comprises a 6,681 SF facility and sits on 0.87-acre parcel. The Property operates as an AAHA accredited, four doctor veterinary hospital providing high-end animal care for the greater Indianapolis region. The state-of-the-art facility is equipped with in-house laboratory, radiography, ultrasound capabilities. The facility also features six exam rooms and surgery areas, and a grooming suite. The hospital has developed a sterling reputation as a leading specialty center.

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Attributes

Purchase Price

$2,560,000

Cap Rate

8.40%

Building area net

621 m²

Parcel Size

0.87 Acres

Year built

2008

Media

Investment Highlights

Mission-Critical Tenant with Longstanding Operating History: MRAH has operated this location since 2008. In 2017, National Veterinary Associates (1,400+ locations) acquired the business and signed a long-term lease, showing their commitment to this location.
Premier Specialty & Emergency Facility: This AAHA-accredited, four-doctor hospital features a full lab, advanced imaging, six exam rooms, surgery and grooming suites.
Inflation-Hedged Rental Escalations: NN lease provides secure income with annual rent increases tied to CPI, ensuring predictable, inflation-protected growth.
Unmatched Visibility & Regional Access: Located at a high-traffic intersection and Interstate 465 frontage, the property offers top regional access and visibility.
Dense & Growing Demographics: Over 46,000 residents within 3 miles, 3% population growth since 2010, and average incomes above $73,000; part of the 2.1M-strong Indianapolis MSA.
Central Hub for High-Density Residential Base: Hospital serves affluent North Indianapolis communities; 48% of local households own pets, ensuring steady demand for services.