Comal Pet Hospital | NNN | 8 Years
10,775 SF | 82% Leased | Retail Building | New Braunfels, TX 78130 | $5,476,650 ($508/SF) | 5.01% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,476,650
- Property Type
-
Retail
- Square Feet
- 10,775 SF
- Price / Square Foot
- $508
Listing Contacts
Brian Wine
Verified Profile
- Property Info
Property Overview
We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, Comal Pet Hospital investment property located in New Braunfels, TX. The Tenant, Suveto, has 8 years remaining in their initial term with 4 (5-Year) options to extend. The lease features annual rental increases of 3%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Suveto’s mission is to create innovative services and products that simplify veterinary practice management and improve the quality of patient care. The practice was awarded back in spring of 2019 by the TVMA as a Texas Heritage Practice, which means the business has been in the same location and operating as a veterinary practice for over 50 years.
Comal Pet Hospital is strategically located on Interstate 35. The site benefits from superior visibility via significant street frontage and a monument sign situated along I-35. It shares this busy New Braunfels area with national tenants such as Dunkin’, Dutch Bros, McDonalds, The Home Depot, and Wendy’s. The location benefits from the frequent street traffic of I-35 Northbound, which sees 11,583 vehicles daily. The 5-mile trade area is supported by a population of 105,413 and 36,754 daytime employees with an average household income of $78,548.
Comal Pet Hospital is strategically located on Interstate 35. The site benefits from superior visibility via significant street frontage and a monument sign situated along I-35. It shares this busy New Braunfels area with national tenants such as Dunkin’, Dutch Bros, McDonalds, The Home Depot, and Wendy’s. The location benefits from the frequent street traffic of I-35 Northbound, which sees 11,583 vehicles daily. The 5-mile trade area is supported by a population of 105,413 and 36,754 daytime employees with an average household income of $78,548.
Property Details
- Class
- B
- Year Built
- 2019
- Stories
- 2
- Property Subtype
- Other Retail, Medical
- Lot Size (sq. ft)
- 29,621 SF
Highlights
- 8 YEARS REMAINING | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
- EXCELLENT VISIBILITY | LOCATED OFF INTERSTATE 35 | LOCATED ALONG MAJOR THOROUGHFARE
- STRONG DEMOGRAPHICS IN 5-MILE TRADE AREA | HIGH BARRIERS TO ENTRY SUBMARKET
- LIMITED LANDLORD RESPONSIBILITIES | MANAGEMENT-FREE
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