Investment Overview

Marcus & Millichap is Pleased to Present The Tyrone Veterinary Hospital, Located in St. Petersburg, Florida. The Single Tenant Veterinary Hospital is 100 Percent Leased to the National Veterinary Service Provider, Mission Pet Health, Formerly known as Southern Veterinary Partners (SVP). The Tyrone Vet Hospital has Served the St. Petersburg MSA for Over 59 Years, Since their Formation in 1967. Mission Pet Health has Practiced in St. Petersburg Since 2020 and Currently has 8.5 Years Remaining on their Original 15 Years Lease with One, Five Year Renewal Option Remaining. 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. SVP was Founded in 2014 and Recently Merged with MVP to have Over 730 Veterinary Hospitals in the United States. Prior to the Merger, SVP was Sourcing Over $1.4 Billion in Annual Revenue, Increasing by Double with Sister Company, MVP. SVP is Now Majority Owned by Silver Lake Capital who has Over $102 Billion Assets Under Management. Shore Capital Partners Previously Held Majority Ownership on Both Companies and will Remain as a Minority Owner After the Estimated $8.6 Billion Deal. The 1965 Built Veterinary Hospital Stands at 3,500 Square Feet and Requires Minimal Landlord Obligations Under the Triple-Net (NNN) Lease. Three Practicing Veterinarians Provide a Wide Range of Pet Care Services Including General Wellness Exams, Advanced Care, Surgical Procedures, Urgent Care, Testing/Diagnostics, Pet Boarding and more. The Corporate Guaranteed Lease Provides Stable, Long-Term Returns via the Two Percent (2 Percent) Annual Rent Increases throughout the Initial Term and All Renewal Options. The Pet Hospital is Strategically Located in the St. Petersburg MSA and Sits on Major Thoroughfare “Tyrone Blvd N,” which Features an Average Daily Traffic Count of 30,100 Vehicles per Day