AVG - New Port Richey, FL

JLL is pleased to offer the opportunity to acquire All Pets Hospital, a single-tenant veterinary hospital located at 7038 State Road 54, New Port Richey, FL (the "Property"). The Property is leased to American Veterinary Group ("AVG") on an Absolute NNN lease with approximately 6.7 years of remaining term, rent increases of the lesser of 2% or 1.25x CPI annually and four, 5-year renewal options.

The Property is a 3,049 SF hospital built in 1985 on a 0.56-acre parcel. It generated $145,157 of site-level EBITDAR, covering the $44,983 annual rent ($14.75 PSF) 3.2x.

AVG operates 150+ veterinary locations across 13 states. It is backed by Oak Hill Capital, a private equity firm with more than $16 billion of capital commitments.

The Property sits along State Road 54 (55K VPD), in a retail corridor that includes Bealls Florida, Walgreens, CVS and McDonald's. Pasco County grew 19.1% from 2020 to 2025, more than twice Florida's 8.7%, and 166,035 residents live within five miles. U.S. pet industry spending reached $158 billion in 2025, up 3.7% (APPA).

This investment offers long-term, hands-off cash flow from a veterinary hospital leased to a private equity-backed operator, with 3.2x EBITDAR coverage and no landlord expenses, in one of Florida's fastest-growing counties.