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Office Medical

Emergency Animal Hospital & Veterinary Referral Center

10225 Custer Rd, Plano, TX 75025

Listing Price: $7,400,000

Cap Rate
7.33%
Gross SF
9,308
Rentable SF
9,308
Price/Gross SF
$795.02
Occupancy
100.0%
Year Built
2004
Lot Size
2.80 acres

Investment Overview

Marcus & Millichap is Pleased to Present The 24/7, 365 Emergency Animal Hospital & Veterinary Referral Center Located in Plano Texas. The Three Tenant Facility is 100 Percent Leased to the Nation's Leading Veterinary Companies, VCA and “Ethos Veterinary Health” – Formerly Known as “NVA~Compassion Fist”, who have a Combined Total of Over 2,500 Veterinary Hospitals Throughout the World. The 2004 Developed Facility Stands at 9,308 Square Feet on 2.8 Acres of Land Directly off Custer Road which features an Average of 23,422 Vehicles per Day. In Addition to the Class-A Specialty and E.R. Facility, the Investment Opportunity Offers Extra Income From a Cell Tower that has Leased the Parcel Since 1994. 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. The Three Tenants Include The Animal Diagnostic Clinic (VCA), The Dallas Veterinary Surgical Center and The Emergency Animal Hospital of Collin County (Both Ethos Vet). The Specialty and E.R. Tenants Cover All Sides of Veterinary Medicine Including: Emergency & Critical Care Services, Neurosurgery, Orthopedic Surgery, Soft Tissue Surgery, Minimally Invasive Procedures, Conditioning and Rehabilitation, Diagnostic Imaging, Internal Medicine, Oncology and more. The E.R. and Referral Center Sits in the Heart of Plano Texas. Local Demographics Include an Average Household Income of Over $160,000 Within a Three Mile Radius and Over 1.1 Million People Residing Within a 10 Mile Radius. Both Tenants Under Ethos Veterinary Health Have Recently Extended their Lease Terms for 10 Years, Showing Their Long-Term Commitment to the Facility and Location. The Emergency Animal Hospital and Dallas Veterinary Surgical Center have Served the Plano Community for a Combined 65 Years.

Investment Highlights

  • Both Tenant Under "ETHOS" Recently Executed a Fresh 10 Year Lease Extension, Showing their Long-Term Commitment to the Facility
  • Each Lease Features Annual Increases, Offering Landlord a Strong Hedge Against Inflation. VCA: Two Percent, ETHOS: Three Percent, and Three Percent
  • Three, Triple Net (NNN) Leases Offer New Landlord Minimal Responsibilities on Building – Landlord to Cover Roof and Structure
  • Corporate Guaranteed Leases have a WALT of 6.5 Years with Two, Five Year Renewal Options
  • State-of-the-Art Specialty Veterinary and Emergency Facility Open to Patients 24/7, 365 Days a Year
  • Dallas Forth Worth MSA: Densely Populated and Affluent Area: Features an Average Household Income of Over $150,000 within a One Mile Radius and Over 345,000 People Residing within a Five Mile Radius
  • Investment Opportunity Offers Additional Revenue From Cell Tower with Minimal Landlord Responsibility

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Office Medical

Emergency Animal Hospital & Veterinary Referral Center

Listing Price: $7,400,000

Cap Rate
7.33%
Gross SF
9,308
Rentable SF
9,308
Price/Gross SF
$795.02
Occupancy
100.0%
Year Built
2004
Lot Size
2.80 acres

Investment Highlights

  • Both Tenant Under "ETHOS" Recently Executed a Fresh 10 Year Lease Extension, Showing their Long-Term Commitment to the Facility
  • Each Lease Features Annual Increases, Offering Landlord a Strong Hedge Against Inflation. VCA: Two Percent, ETHOS: Three Percent, and Three Percent
  • Three, Triple Net (NNN) Leases Offer New Landlord Minimal Responsibilities on Building – Landlord to Cover Roof and Structure
  • Corporate Guaranteed Leases have a WALT of 6.5 Years with Two, Five Year Renewal Options
  • State-of-the-Art Specialty Veterinary and Emergency Facility Open to Patients 24/7, 365 Days a Year
  • Dallas Forth Worth MSA: Densely Populated and Affluent Area: Features an Average Household Income of Over $150,000 within a One Mile Radius and Over 345,000 People Residing within a Five Mile Radius
  • Investment Opportunity Offers Additional Revenue From Cell Tower with Minimal Landlord Responsibility

Investment Overview

Marcus & Millichap is Pleased to Present The 24/7, 365 Emergency Animal Hospital & Veterinary Referral Center Located in Plano Texas. The Three Tenant Facility is 100 Percent Leased to the Nation's Leading Veterinary Companies, VCA and “Ethos Veterinary Health” – Formerly Known as “NVA~Compassion Fist”, who have a Combined Total of Over 2,500 Veterinary Hospitals Throughout the World. The 2004 Developed Facility Stands at 9,308 Square Feet on 2.8 Acres of Land Directly off Custer Road which features an Average of 23,422 Vehicles per Day. In Addition to the Class-A Specialty and E.R. Facility, the Investment Opportunity Offers Extra Income From a Cell Tower that has Leased the Parcel Since 1994. 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. The Three Tenants Include The Animal Diagnostic Clinic (VCA), The Dallas Veterinary Surgical Center and The Emergency Animal Hospital of Collin County (Both Ethos Vet). The Specialty and E.R. Tenants Cover All Sides of Veterinary Medicine Including: Emergency & Critical Care Services, Neurosurgery, Orthopedic Surgery, Soft Tissue Surgery, Minimally Invasive Procedures, Conditioning and Rehabilitation, Diagnostic Imaging, Internal Medicine, Oncology and more. The E.R. and Referral Center Sits in the Heart of Plano Texas. Local Demographics Include an Average Household Income of Over $160,000 Within a Three Mile Radius and Over 1.1 Million People Residing Within a 10 Mile Radius. Both Tenants Under Ethos Veterinary Health Have Recently Extended their Lease Terms for 10 Years, Showing Their Long-Term Commitment to the Facility and Location. The Emergency Animal Hospital and Dallas Veterinary Surgical Center have Served the Plano Community for a Combined 65 Years.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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