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NVA Summit Veterinary Referral Center 2505 S 80th St
27,199 SF Retail Building Tacoma, WA 98409 £11,621,750 (£427/SF) 6.76% Net Initial Yield
Investment Highlights
- BRAND NEW 10-YEAR LEASE RENEWAL
- HEDGE AGAINST INFLATION
- MISSION CRITICAL FACILITY
Executive Summary
sale offering for the NVA Summit Veterinary Referral Center
located in Tacoma, WA. Built in 1999, this 27,199 SF facility
features the most extensive animal related emergency services
in Pierce County. This single tenant medical office is fully leased
to NVA Summit Veterinary Management LLC and is backed by
the largest private owner of freestanding veterinary hospitals
in the United States, National Veterinary Associates Inc. This
newly renewed 10-year, triple-net lease features strong annual
rental increases of 3.5%, providing an appealing return, a hedge
against inflation, and minimal landlord responsibilities. NVA
has invested heavily in the medical buildout of the hospital,
demonstrating their long-term commitment to the site.
NVA Summit sits on a generous 1.57-acre lot and includes
an ancillary parking lot that provides an additional 58 stalls.
The property is located just off I-5, providing great access for
employees and customers alike. Tacoma’s growing population
rate, combined with over 60% of Washington households
owning a pet, positions NVA Summit well for a continuation of
strong profit growth within the veterinary services industry.
Property Facts
Amenities
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Service type
- -
- -
- NNN
- Aug 2033
Since the first hospital joined NVA in 1997, founder Stanley Creighton, DVM has emphasized support for the local medical standards established by individual doctors and practices. He’s always believed that when veterinarians craft strategies specific to their own hospitals and communities, high quality patient care and client services follow. This vision for local empowerment continues at NVA Canada. They make new tools and resources available to hospitals, helping them achieve their individual medical goals without the restrictions of a standardized plan. Resources include their national medical database, training and education for staff, emerging nationally published research and standards plus much more. Managing veterinarians decide what level of medicine they would like their hospital to reach—then NVA Canada supports them in making it happen.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Service type | - | - | NNN | Aug 2033 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 032030-4102 | Improvements Assessment | £4,633,098 |
| Land Assessment | £689,014 | Total Assessment | £5,322,112 |
PROPERTY TAXES
Presented by
NVA Summit Veterinary Referral Center | 2505 S 80th St
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