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Innovetive Petcare - Niceville, FL 203 Government Ave 4,800 SF Retail Building Valparaiso, FL 32580 $2,699,548 ($562.41/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- Established National Tenant: Innovetive Petcare is a leading integrated veterinary healthcare platform with more than 80 locations across 16 states
- Strategic Relocation to Upgraded Facility: The tenant relocated to this larger facility to meet increased patient demand
- Secure, Long-Term Lease Structure: The 15-year Triple Net (NNN) lease offers passive ownership with minimal landlord responsibilities
- Experienced Operator in Growth Mode: Founded in 2015, the company specializes in acquiring and operating both specialty
- Recent Capital Improvements: Significant upgrades were completed in anticipation of the clinic’s opening
- Strong Demographic and Market Fundamentals: Located in Niceville, FL, a high-demand Gulf Coast market near Destin
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale a newly renovated, 4,800-sf Innovetive Petcare facility located at 203 Government Avenue in Niceville, FL. This premier veterinary property is secured by a longterm 15-year Triple Net (NNN) lease with 3 additional 5-year renewal options and scheduled 10% rent increases every 5 years, offering investors stable cash flow with built-in rental growth. Innovetive Petcare, a leading operator of veterinary hospitals across the southern United States. Backed by a strong market presence and a robust capital improvement investment, this location represents a high-quality, recession-resistant asset in a desirable coastal Florida market.
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Veterinarian/Kennel
Building Size
4,800 SF
Building Class
C
Year Built
1955
Price
$2,699,548
Price Per SF
$562.41
Cap Rate
6.65%
NOI
$179,520
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.49 AC
Frontage
154’ on GOVERNMENT AVE
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Innovetive Petcare
- Health Care and Social Assistance
- 4,800 SF
- $37.40
- Triple Net
- Dec 2039
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Innovetive Petcare | Health Care and Social Assistance | 4,800 SF | $37.40 | Triple Net | Dec 2039 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-1S-23-1230-0006-0010 | Improvements Assessment | $539,323 |
| Land Assessment | $156,185 | Total Assessment | $695,508 |
PROPERTY TAXES
Parcel Number
12-1S-23-1230-0006-0010
Land Assessment
$156,185
Improvements Assessment
$539,323
Total Assessment
$695,508
CONTACTS
-
Gage Earnhart -
Corey Antonishen -
Andrew Ackerman -
Sands Investment Group Austin, LLC
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Innovetive Petcare - Niceville, FL | 203 Government Ave
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