Single-Tenant Office Medical
Pet Paradise - Middleburg
1611 Isaac Way, Middleburg, FL 32068
Listing Price: $6,250,000
Investment Overview
We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Middleburg, Florida, a southern suburb of Jacksonville. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location houses one of its larger build to suit facilities, and features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned right off the recently completed First Coast Expressway (Florida State Road 23) and shadow anchored by within a main commercial hub containing Home Depot, Lowe’s, and Walmart. There are over 30,000 households within 5 miles of the Asset and population growth is expected to exceed 2% annually over the next five years. This offering presents the rare opportunity to acquire a stabilized pet resort asset with a completely passive ownership structure for over 18 years and outstanding security in the value of the underlying real estate.
Pet Paradise - Middleburg
Investment Highlights
- The Asset is well located in Middleburg, a fast growing Jacksonville suburb with significant nearby development underway, and has limited full service competition within the immediate trade area
- Pet Paradise's headquarters is located in Jacksonville, and this location is one of six locations within the MSA, signifying there knowledge and dominance in the marketplace
- Strategic Suburban location, with household spending of over $5,000 annually towards entertainment spending such as pets and other related hobbies
- The Facility is mission critical to the tenant's business, and offers essential services like veterinary services
- The Asset is subject to an ideal absolute triple net lease with just over 18 years remaining and up to 2.0% annual increases, allowing for a completely passive investment structure with income appreciation consistently over the primary term
- The Jacksonville region is located atop America's third largest state and central to the booming southeast, naturally situated for continuous growth
- Florida has zero state income tax
Listing Price: $6,250,000
Investment Highlights
- The Asset is well located in Middleburg, a fast growing Jacksonville suburb with significant nearby development underway, and has limited full service competition within the immediate trade area
- Pet Paradise's headquarters is located in Jacksonville, and this location is one of six locations within the MSA, signifying there knowledge and dominance in the marketplace
- Strategic Suburban location, with household spending of over $5,000 annually towards entertainment spending such as pets and other related hobbies
- The Facility is mission critical to the tenant's business, and offers essential services like veterinary services
- The Asset is subject to an ideal absolute triple net lease with just over 18 years remaining and up to 2.0% annual increases, allowing for a completely passive investment structure with income appreciation consistently over the primary term
- The Jacksonville region is located atop America's third largest state and central to the booming southeast, naturally situated for continuous growth
- Florida has zero state income tax
Investment Overview
We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Middleburg, Florida, a southern suburb of Jacksonville. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location houses one of its larger build to suit facilities, and features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned right off the recently completed First Coast Expressway (Florida State Road 23) and shadow anchored by within a main commercial hub containing Home Depot, Lowe’s, and Walmart. There are over 30,000 households within 5 miles of the Asset and population growth is expected to exceed 2% annually over the next five years. This offering presents the rare opportunity to acquire a stabilized pet resort asset with a completely passive ownership structure for over 18 years and outstanding security in the value of the underlying real estate.
