Southlake Crossing Animal Clinic_Property for Sale
Southlake Crossing Animal Clinic_Property for Sale
2340 W Southlake Blvd, Southlake, TX, 76092, US

Southlake Crossing Animal Clinic

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in Southlake Crossing Animal Clinic located at 2340 W Southlake Blvd, Southlake, Texas (the “Property”).

Comprising 4,076 square feet situated on 0.94 acres, the Property is a veterinary facility led by two-doctors offering a full range of care and services for animals. Southlake Crossing Animal Clinic has been serving the community for over 28 years and has the reputation of being the trusted go-to animal clinic for Southlake and the surrounding area.

The Property is 100% leased to NVA Southlake Crossing Veterinary Management, LLC (“Tenant”), a wholly-owned subsidiary of National Veterinary Associates (“NVA”). NVA is a global leading veterinary organization that owns ~145 world-class veterinary hospitals as well as ~1,400 general practice veterinary hospitals, equine hospitals and pet resorts.

The Property is well located along Southlake Blvd with visibility to over 27,000 vehicles per day along Southlake Blvd in the affluent Southlake neighborhood. It is a highly visited retail corridor with the Property next door to Chipotle and an outparcel to Sprouts Farmers Market grocery. Within a 3-mile radius of the site, average household income is an impressive $242,000+ and population is 55,200+.

This offering provides investors the exceptional opportunity to acquire a longstanding, full-service animal hospital backed by a global parent company and located in a thriving suburb of Dallas-Fort Worth.


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Attributes

Asking price
₹195,817,000
NOI
₹12,728,000
Cap rate
6.5%
WAULT
4.8 years
Building area net
379 m²
Year built
1999
Land area gross
0.38 ha
Occupancy
100%
Annual escalation
Variable - CPI

Media

Investment Highlights

  • Tenant commitment to the site with proven operating history since 1998 & recognized in the community winning several awards for best vet clinic and neighborhood favorite.
  • The offering provides investors the ability to invest in the recession-resistant pet care industry.
  • Property has high visibility along Southlake Blvd intersection with Davis Blvd (58,500+ VPD). Approximately 63% of households have a pet within a 3-mi radius of the site.
  • Tenant is owned by National Veterinary Associates. NVA is a global leading veterinary organization that provides a range of comprehensive services and support tot its 1,400+ vet clinics and pet resorts across the world.
  • Optimal Net lease with limited landlord responsibilities with 4.8 years remaining and two, 5-year extension options. CPI-based increases annually
Southlake Crossing Animal Clinic 4_Property for Sale

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Last updated
19 Apr 2024