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Single-Tenant Office Medical

Advanced PetCare of Oakland | Camp Bow Wow

6374-6378 Sashabaw Rd, Clarkston, MI 48346

Listing Price: $3,003,105

Cap Rate
7.00%
Tenant Name
Advanced Pet Care of Oakland | Camp Bow Wow
Years Remaining On Lease
4.9
Gross SF
13,643
Guarantor
Corporate Guarantee
Rentable SF
13,643
Price/Gross SF
$220.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.41

Investment Overview

Marcus & Millichap is pleased to present the fully occupied, two tenant Advanced PetCare of Oakland and Camp Bow Wow building, located at 6374-6378 Sashabaw Road in Clarkston, MI. The building was constructed in 2007 as a build to suit for Advanced PetCare. The property contains 13,643 square feet of rentable building area and is situated on 1.09 acres of land. The two tenants share a strong synergy of services. Advanced PetCare of Oakland has been in this location since 2007. In 2016 National Veterinary Associates (NVA) purchased the practice and signed a 10-year NNN lease with three percent annual rental increases (or CPI). NVA is the largest private owner of freestanding veterinary hospitals. NVA owns more than 1,000 veterinary hospitals and pet resorts in the United States, Canada, Australia, New Zealand and Singapore. Camp Bow Wow has been operating in this location since 2007. Camp Bow Wow has four-years of NNN lease term remaining, with two percent annual increases. Camp Bow Wow is owned by Veterinary Centers of America Inc. (VCA). VCA has over 1,000 locations in the US and Canada. In 2017 candy maker MARS, Inc. purchased VCA. The subject property is well positioned on Sashabaw Road, which sees an excess of 30,500 vehicles per day. The building is located within a half of mile of Interstate 75, a major thoroughfare for citizens traveling North and South, which sees over 71,000 vehicles per day. Clarkston, Michigan is an affluent community situated 40 miles north of Detroit and features excellent demographics; there are over 92,000 residents with an average household income exceeding $109,000 within a five-mile radius. This asset offers an incoming investor a stable investment opportunity. An investor will also have an increasing NOI as a result of the three and two percent annual rental increases in place for the duration of the firm lease term.

Investment Highlights

  • Two Tenant, Fully Occupied Veterinary Center
  • Both Tenants Operate on NNN Leases
  • Strong Synergy of Services between the Two Tenants
  • Advanced PetCare: 3%, Camp Bow Wow: 2% Annual Rental Increases
  • Located Directly on Sashabaw Road - 30,000+ Vehicles Per Day
  • Located within a Half Mile of I-75 - 95,000+ Vehicles Per Day
  • Over 92,000 Residents with an Average Household income Exceeding $109,000 within a Five Mile Radius

Exclusively Listed By

Single-Tenant Office Medical

Advanced PetCare of Oakland | Camp Bow Wow

Listing Price: $3,003,105

Cap Rate
7.00%
Tenant Name
Advanced Pet Care of Oakland | Camp Bow Wow
Years Remaining On Lease
4.9
Gross SF
13,643
Guarantor
Corporate Guarantee
Rentable SF
13,643
Price/Gross SF
$220.12
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$15.41

Investment Highlights

  • Two Tenant, Fully Occupied Veterinary Center
  • Both Tenants Operate on NNN Leases
  • Strong Synergy of Services between the Two Tenants
  • Advanced PetCare: 3%, Camp Bow Wow: 2% Annual Rental Increases
  • Located Directly on Sashabaw Road - 30,000+ Vehicles Per Day
  • Located within a Half Mile of I-75 - 95,000+ Vehicles Per Day
  • Over 92,000 Residents with an Average Household income Exceeding $109,000 within a Five Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the fully occupied, two tenant Advanced PetCare of Oakland and Camp Bow Wow building, located at 6374-6378 Sashabaw Road in Clarkston, MI. The building was constructed in 2007 as a build to suit for Advanced PetCare. The property contains 13,643 square feet of rentable building area and is situated on 1.09 acres of land. The two tenants share a strong synergy of services. Advanced PetCare of Oakland has been in this location since 2007. In 2016 National Veterinary Associates (NVA) purchased the practice and signed a 10-year NNN lease with three percent annual rental increases (or CPI). NVA is the largest private owner of freestanding veterinary hospitals. NVA owns more than 1,000 veterinary hospitals and pet resorts in the United States, Canada, Australia, New Zealand and Singapore. Camp Bow Wow has been operating in this location since 2007. Camp Bow Wow has four-years of NNN lease term remaining, with two percent annual increases. Camp Bow Wow is owned by Veterinary Centers of America Inc. (VCA). VCA has over 1,000 locations in the US and Canada. In 2017 candy maker MARS, Inc. purchased VCA. The subject property is well positioned on Sashabaw Road, which sees an excess of 30,500 vehicles per day. The building is located within a half of mile of Interstate 75, a major thoroughfare for citizens traveling North and South, which sees over 71,000 vehicles per day. Clarkston, Michigan is an affluent community situated 40 miles north of Detroit and features excellent demographics; there are over 92,000 residents with an average household income exceeding $109,000 within a five-mile radius. This asset offers an incoming investor a stable investment opportunity. An investor will also have an increasing NOI as a result of the three and two percent annual rental increases in place for the duration of the firm lease term.

Exclusively Listed By

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