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Banfield - Gainesville, FL 4209 NW 37th Pl 5,454 SF Retail Building Gainesville, FL 32606 $2,626,087 ($481.50/SF) 5.75% Cap Rate
Investment Highlights
- Banfield Pet Hospital, a wholly owned subsidiary of Mars, Inc., is the 2nd largest veterinary hospital in the country, boasting over 1,000 locations.
- Banfield Pet Hospital recently executed an early 5-year extension, bumping the lease term to 8+ years, underscoring its long-term commitment.
- Gainesville is home to the University of Florida, a top-tier public university and major economic driver, supporting a large, stable employment base.
- The lease is signed by Banfield’s top-line entity (Medical Management International, Inc.), providing a guarantee of over 1,000 units.
- The lease features 10% rental increases every five years, along with three additional five-year renewal options.
- Continued population growth driven by the University of Florida, healthcare employment, & in-migration supports long-term demand for essential service
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale this 5,454 SF free-standing medical office building occupied by Banfield Pet Hospital, located at 4209 NW 37th Place in Gainesville, FL. This opportunity includes a corporate lease with Medical Management International, Inc., having 1,000+ locations across the U.S., Mexico, and Puerto Rico.
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
Property Type
Retail
Property Subtype
Building Size
5,454 SF
Building Class
C
Year Built
1991
Price
$2,626,087
Price Per SF
$481.50
Cap Rate
5.75%
NOI
$151,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.16 AC
Zoning
PD-0
Parking
25 Spaces (4.4 Spaces per 1,000 SF Leased)
Frontage
345’ on Northwest 37th Place
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Banfield PET Hospital
- Professional, Scientific, and Technical Services
- 5,688 SF
- $27.88
- Triple Net
- Jun 2034
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Banfield PET Hospital | Professional, Scientific, and Technical Services | 5,688 SF | $27.88 | Triple Net | Jun 2034 |
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06110-001-000 | Improvements Assessment | $779,372 |
| Land Assessment | $751,410 | Total Assessment | $1,530,782 |
Property Taxes
Parcel Number
06110-001-000
Land Assessment
$751,410
Improvements Assessment
$779,372
Total Assessment
$1,530,782
Contacts
-
Gage Earnhart -
Kristen Pierson -
Andrew Ackerman -
Sands Investment Group Austin, LLC
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