Austinburg Veterinary Clinic | 1568 1568 State Route 45
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Austinburg Veterinary Clinic 1568 1568 State Route 45
4,978 SF Retail Building Austinburg, OH 44010 £346,788 (£70/SF) 9.60% Net Initial Yield
Investment Highlights
- 1 AND A HALF YEARS REMAINING | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
- NO COMPETITION IN A 5 MILE RADIUS | NATIONAL TENANTS IN THE SURROUNDING SUBMARKET
- EXCELLENT VISIBILITY | LOCATED OFF CENTER ROAD | LOCATED ALONG A CENTRAL STRIP
- LIMITED LANDLORD RESPONSIBILITIES | LOW-MANAGEMENT
Executive Summary
We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN leased, freestanding, Austinburg
Veterinary Clinic investment property located in Austinburg, OH. The Tenant, VetCor, has over one and a half years remaining in their initial term with 3 (5-year)
options to extend. The lease features annual rental increases of 2%. The lease is a double net with limited landlord responsibilities, making it an ideal, lowmanagement
investment opportunity for a passive investor. VetCor was founded in 1997 with the goal of creating a community-oriented veterinary care network
and now has over 500 locations nationwide.
Austinburg Veterinary Clinic is strategically located on Center Road. The site benefits from superior visibility via significant street frontage and a monument sign
situated along Center Rd. It shares this area of Austinburg with national tenants just up Center Road like Dunkin’, Family Dollar, Waffle House, and McDonald’s.
The location benefits from the frequent street traffic of Center Road, which sees over 4,000 vehicles daily. The 5-mile trade area is supported by a population of
11,685 and 5,720 daytime employees with an average household income of $71,998.
Veterinary Clinic investment property located in Austinburg, OH. The Tenant, VetCor, has over one and a half years remaining in their initial term with 3 (5-year)
options to extend. The lease features annual rental increases of 2%. The lease is a double net with limited landlord responsibilities, making it an ideal, lowmanagement
investment opportunity for a passive investor. VetCor was founded in 1997 with the goal of creating a community-oriented veterinary care network
and now has over 500 locations nationwide.
Austinburg Veterinary Clinic is strategically located on Center Road. The site benefits from superior visibility via significant street frontage and a monument sign
situated along Center Rd. It shares this area of Austinburg with national tenants just up Center Road like Dunkin’, Family Dollar, Waffle House, and McDonald’s.
The location benefits from the frequent street traffic of Center Road, which sees over 4,000 vehicles daily. The 5-mile trade area is supported by a population of
11,685 and 5,720 daytime employees with an average household income of $71,998.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,978 SF
Building Class
B
Year Built
1980
Price
£346,788
Price Per SF
£70
Net Initial Yield
9.60%
NOI
£33,297
Tenancy
Single
Number of Floors
2
Building FAR
0.08
Land Acres
1.35 AC
PROPERTY TAXES
| Parcel Number | 070080001600 | Improvements Assessment | £36,655 |
| Land Assessment | £6,181 | Total Assessment | £42,837 |
PROPERTY TAXES
Parcel Number
070080001600
Land Assessment
£6,181
Improvements Assessment
£36,655
Total Assessment
£42,837
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Austinburg Veterinary Clinic | 1568 1568 State Route 45
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