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Thrive Pet Healthcare (2025) - Marathon, FL 5001 Overseas Hwy 6,000 SF Retail Building Marathon, FL 33050 $3,000,000 ($500/SF) 6.29% Cap Rate
INVESTMENT HIGHLIGHTS
- Thrive Pet Healthcare is a leading national veterinary services platform, operating more than 400 clinics across 37 states.
- Situated in Marathon, FL, a central hub in the Florida Keys, this location captures year-round demand from both residents and seasonal visitors.
- High barrier-to-entry market - limited commercial real estate availability and strict zoning regulations in the Keys.
- Thrive Pet Healthcare has executed the first of four (5-year) lease renewal options, featuring 3% annual rent increases.
- Marathon Veterinary Hospital is the largest and best-equipped animal care facility in the region, offering comprehensive services.
- The hospital holds AAHA (American Animal Hospital Association) accreditation—a distinction earned by about 15% of veterinary practices in the U.S.
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale this 6,000 SF single-tenant Marathon Veterinary Hospital, located at 5001 Overseas Hwy in Marathon, FL. The property is leased to Thrive Pet Healthcare (a 400+ unit operator), which has executed the first of four (5-year) renewal options, featuring 3% annual rent escalations and minimal landlord responsibilities. The property has dedicated parking and is located on a well-trafficked corridor with direct access and visibility from the main thoroughfare. With consistent rent growth and reliable cash flows, this offering is a rare opportunity to acquire the largest credit-backed veterinary asset in a supply-constrained Florida Keys 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
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1973/2024
Price
$3,000,000
Price Per SF
$500
Cap Rate
6.29%
NOI
$188,586
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.46 AC
Zoning
MU
Frontage
200’ on Overseas Hwy
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Marathon Veterinary Hospital
- Health Care and Social Assistance
- 6,000 SF
- $31.43
- Triple Net
- Oct 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Marathon Veterinary Hospital | Health Care and Social Assistance | 6,000 SF | $31.43 | Triple Net | Oct 2030 |
Bike Score®
Very Bikeable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 00324380-000000 | Improvements Assessment | $900,731 |
| Land Assessment | $696,000 | Total Assessment | $1,596,731 |
PROPERTY TAXES
Parcel Number
00324380-000000
Land Assessment
$696,000
Improvements Assessment
$900,731
Total Assessment
$1,596,731
CONTACTS
-
Gage Earnhart -
Corey Antonishen -
Andrew Ackerman -
Sands Investment Group Austin, LLC
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Thrive Pet Healthcare (2025) - Marathon, FL | 5001 Overseas Hwy
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