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Valley Veterinary Care | NNN 812 Gilmer Rd 4,084 SF Retail Building Longview, TX 75604 $1,082,000 ($264.94/SF) 6.50% Cap Rate
Investment Highlights
- 6 Years Remaining | Options To Extend | Annual Rental Increases | Experienced Operator
- Northwest Village Shopping Center | Dense Retail Corridor
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Strong Demographics In The Immediate Trade Area
Executive Summary
• Valley Veterinary Care Corporate signed lease
• 6 years remaining with 2 (5-year) option periods to extend
• The lease features 2% annual rental increases throughout the initial term and FMV increases at the beginning of each option period
• Valley Veterinary Care’s parent company, Veterinary Innovative Partners is a veterinarian-owned-and-operated network that comprises almost 70 locations across 12 states
• 6 years remaining with 2 (5-year) option periods to extend
• The lease features 2% annual rental increases throughout the initial term and FMV increases at the beginning of each option period
• Valley Veterinary Care’s parent company, Veterinary Innovative Partners is a veterinarian-owned-and-operated network that comprises almost 70 locations across 12 states
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Veterinarian/Kennel
Building Size
4,084 SF
Building Class
C
Year Built
1971
Price
$1,082,000
Price Per SF
$264.94
Cap Rate
6.50%
NOI
$70,358
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.03 AC
Zoning
PD-2 - Planned Development
Parking
9 Spaces (2.2 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 28227 | Improvements Assessment | $178,550 |
| Land Assessment | $68,540 | Total Assessment | $247,090 |
Property Taxes
Parcel Number
28227
Land Assessment
$68,540
Improvements Assessment
$178,550
Total Assessment
$247,090
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