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9339 Gera Rd
Birch Run, MI 48415
Frankenmuth - Birch Run Veterinary Hospital · Retail Property For Sale
Investment Highlights
- 5 YEARS REMAINING IN RECENTLY EXTENDED TERM | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
- STRONG DEMOGRAPHICS IN 5-MILE TRADE AREA | HIGH BARRIERS TO ENTRY SUBMARKET
- EXCELLENT VISIBILITY | LOCATED OFF S GERA RD | LOCATED ALONG MAJOR THOROUGHFARE
- LIMITED LANDLORD RESPONSIBILITIES | LOW-MANAGEMENT
Executive Summary
TWG is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, Frankenmuth-Birch Run Veterinary Hospital investment property located in Birch Run, Michigan. The Tenant, CareVet, has 5 years remaining in their extended term with 3 (three) 5-year options to extend. The lease features annual rental increase of 2%. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
Frankenmuth-Birch Run Veterinary Hospital is strategically located on S Gera Road. The site benefits from superior visibility via significant street frontage and a monument sign situated along S Gera Road. It shares this busy Birch Run area with businesses like Mc Donalds, Taco Bell, Subway, Burger King, and Tim Hortons. The location benefits from the frequent street traffic of S Gera Road, which sees 10,939 vehicles daily. The 5-mile trade area is supported by a population of 14,201 and 9,057daytime employees with an average household income of $123,629.
Frankenmuth-Birch Run Veterinary Hospital is strategically located on S Gera Road. The site benefits from superior visibility via significant street frontage and a monument sign situated along S Gera Road. It shares this busy Birch Run area with businesses like Mc Donalds, Taco Bell, Subway, Burger King, and Tim Hortons. The location benefits from the frequent street traffic of S Gera Road, which sees 10,939 vehicles daily. The 5-mile trade area is supported by a population of 14,201 and 9,057daytime employees with an average household income of $123,629.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,383 SF
Building Class
C
Year Built
1999
Price
$880,000
Price Per SF
$260.12
Cap Rate
9.18%
NOI
$80,819
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
3.00 AC
Zoning
A-1 - General Agricultural District
Parking
27 Spaces (6.57 Spaces per 1,000 SF Leased)
Frontage
392’ on Gera Road
Amenities
- Signage
Property Taxes
| Parcel Number | 05-10-6-11-2002-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $230,100 |
Property Taxes
Parcel Number
05-10-6-11-2002-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$230,100
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