River Run Animal Hospital - Charlotte, NC

6250 Caden Rd, Charlotte, NC, 28278, US

Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee-simple interest in a freestanding single-tenant River Run Animal Hospital located at 6250 Caden Rd in Charlotte, NC ("Property" or "Asset"). The Tenant has ±9.6 years of term remaining on a NN lease structure, 3% annual rent increases, and two 5-year option periods.

Constructed in 2020, the Asset comprises 5,090 SF and sits on a 0.91-acre parcel. The Property operates as a comprehensive animal hospital facility under the River Run brand. The hospital provides full-service pet care options including wellness care, diagnostic testing, dentistry, and surgery services. The facility is strategically positioned to serve as a trusted “one-stop-shop”, delivering integrated veterinary care and specialized treatment plans for pets in the growing Charlotte metropolitan area with high-quality integrated pet care services.

The Property is 100% leased to WVP River Run, LLC ("Tenant"), a leading operator in Charlotte which was recently acquired by the national MSO, Western Veterinary Partners with over 325+ supported locations nationally. Established in 2020, River Run serves pet families through their comprehensive care model with an employee base of 17 individuals including four specialized Doctors of Veterinary Medicine. This location represents a significant investment by River Run, demonstrating the Tenant's long-term commitment to the Property through a recently executed 10-year lease earlier this year.

Broker of Record

Donnie Robinson

NC License No. C9784

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Attributes

Asking price

THB 80,961,000

Cap rate

6.5%

WALT

9.6 years

Building area net

473 m²

Land area net

0.37 ha

Media

Investment Highlights

Recently Executed Lease: River Run Animal Hospital affirmed its desire to operate at this location by executing a fresh 10-year lease term in May of this year.
National Operator: Western Veterinary Partners demonstrates institutional-quality operational capabilities through its nationwide network of over 325+ locations across the country.
Attractive Rental Escalations: The lease structure provides predictable revenue growth through built-in rental escalations of 3% annually throughout both the primary term and option periods.
Strong Demographics: The local area boasts exceptional potential with an average household income of $115,900+ within a 5-mile radius and nearly 107,000+ residents, supported by Charlotte's ranking as the 5th best place to live in the United States.
Dense Surrounding Retail Market: Situated within a thriving retail corridor featuring 2.1 million square feet of commercial space within a three-mile radius, including proximity to Berewick Town Center (4.5 million annual visitors).