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Single-Tenant Office Medical

Tipton Ridge Veterinary Center | VetEvolve

1858 Bob White Blvd, Pulaski, VA 24301

Listing Price: $1,765,000

Cap Rate
8.50%
Tenant Name
VetEvolve
Years Remaining On Lease
7.8
Guarantor
Subsidiary of a Corporation
Rentable SF
6,648
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.56

Investment Overview

Marcus & Millichap is Pleased to Present The Tipton Veterinary Medical Center, Located in Pulaski, Virginia. The Single Tenant Animal Hospital is 100 Percent Leased to VetEvolve. VetEvolve has Practiced in Pulaski Since 2021, and has Eight Years Remaining on the Lease, with Two, Five Year Renewal Options. Since COVID-19, Studies Show Over 23 Million American Households got Pets. Veterinary Practices were Deemed Essential Through the Pandemic and Continue to Grow as Safe and Secure Investments. VetEvolve was Founded in 2014, and Currently have Over 29 Veterinary Locations Along the Eastern Half of the United States. VetEvolve was Recently Acquired by the Leading Lower Middle-Market Private Equity Firm “Varsity Healthcare Partners”. VHP Utilizes their Hands-on Approach and Healthcare Experience to Target Exclusively Multisite Healthcare Provider Platforms or Business Providing Outsourced Services, Technology and more. VHP Currently has over $1.6 Billion Assets Under Management with 16 Current and Realized Investments. The Tipton VMC has Four Practicing Veterinarians that Provide Services Including: Boarding, Dental Care, Digital Radiography, Grooming, Heartworm Testing, Hospice/Euthanasia, In-Clinic Diagnostics, Intensive Care, Microchipping, Nutritional Counseling, Pain Management, Pharmacy, Exotic Pet Care and Surgery. The 6,648 Square Foot Facility Sits on a Highly Visible Corner of Bob White Blvd and Warden Square Rd with Over 6,500 Vehicles per Day and Just Two Miles From James Hardie Brands who is a National Leader for House Siding.

Investment Highlights

  • Tenant is a Growing Firm with a Three Year Revenue Growth of 209 Percent
  • Lease Features a 17 Unit Subsidiary Guarantee
  • Triple-Net (NNN) Lease Offers Minimal Landlord Responsibilites
  • Lease has Eight Years Remaining with Two, Five Year Renewal Options

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

Single-Tenant Office Medical

Tipton Ridge Veterinary Center | VetEvolve

Listing Price: $1,765,000

Cap Rate
8.50%
Tenant Name
VetEvolve
Years Remaining On Lease
7.8
Guarantor
Subsidiary of a Corporation
Rentable SF
6,648
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.56

Investment Highlights

  • Tenant is a Growing Firm with a Three Year Revenue Growth of 209 Percent
  • Lease Features a 17 Unit Subsidiary Guarantee
  • Triple-Net (NNN) Lease Offers Minimal Landlord Responsibilites
  • Lease has Eight Years Remaining with Two, Five Year Renewal Options

Investment Overview

Marcus & Millichap is Pleased to Present The Tipton Veterinary Medical Center, Located in Pulaski, Virginia. The Single Tenant Animal Hospital is 100 Percent Leased to VetEvolve. VetEvolve has Practiced in Pulaski Since 2021, and has Eight Years Remaining on the Lease, with Two, Five Year Renewal Options. Since COVID-19, Studies Show Over 23 Million American Households got Pets. Veterinary Practices were Deemed Essential Through the Pandemic and Continue to Grow as Safe and Secure Investments. VetEvolve was Founded in 2014, and Currently have Over 29 Veterinary Locations Along the Eastern Half of the United States. VetEvolve was Recently Acquired by the Leading Lower Middle-Market Private Equity Firm “Varsity Healthcare Partners”. VHP Utilizes their Hands-on Approach and Healthcare Experience to Target Exclusively Multisite Healthcare Provider Platforms or Business Providing Outsourced Services, Technology and more. VHP Currently has over $1.6 Billion Assets Under Management with 16 Current and Realized Investments. The Tipton VMC has Four Practicing Veterinarians that Provide Services Including: Boarding, Dental Care, Digital Radiography, Grooming, Heartworm Testing, Hospice/Euthanasia, In-Clinic Diagnostics, Intensive Care, Microchipping, Nutritional Counseling, Pain Management, Pharmacy, Exotic Pet Care and Surgery. The 6,648 Square Foot Facility Sits on a Highly Visible Corner of Bob White Blvd and Warden Square Rd with Over 6,500 Vehicles per Day and Just Two Miles From James Hardie Brands who is a National Leader for House Siding.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    Senior Vice President/Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

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