Investment Overview

Marcus & Millichap is Pleased to Present The Southeast North Carolina Veterinary Real Estate Portfolio, Located in the Southport, Oak Island, and Brunswick North Carolina. The Three, Single Tenant Animal Hospitals are 100% Leased to One of the Leading, National Veterinary Service Provider. The Tenant has Practiced in Southeast North Carolina 2020 and have Over Twelve and a Half Years Remaining on the Original Fifteen Year Lease, with Two, 5 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. The Tenant was Founded 10 Years Ago, and Currently have Over 300 Veterinary Locations in the United States. Additionally, the Tenant is Owned by a Leading Healthcare Private Equity Firm that has Over 2 Billion Dollars in Assets Under Management. The Southport, Oak Island and Brunswick Animal Hospitals have Ten Practicing Veterinarians that Provide a Wide Range of Veterinary Medical Services - Wellness/Prevention Care, Testing/Diagnostics, Specialized Care, Surgical Procedures, Urgent Care and more. Under a 29 Mile Radius, the Southport, Oak Island, and Brunswick Animal Hospitals are in Close Proximity and Allow Each Hospital to Work in Conjunction and Assist Each Other as Needed. Each Animal Hospital is Strategically Located on a Major Thoroughfare with a Combined Traffic Count Exceeding 70,000 Vehicles Per Day. The Landlord is Subject to Minimal Responsibilities Under the Double-Net (NN) Leases. Current Ownership has Replaced the Roof and HVAC Systems at All Three Locations, Minimizing Any Major Capital Expenditures for a New Landlord.