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Single-Tenant Office Medical

VetCor - The Animals' Hospital of Levittown

2230 Bristol Oxford Valley Rd, Levittown, PA 19057

Listing Price: $1,250,000

Cap Rate
6.83%
Tenant Name
VetCor
Years Remaining On Lease
4.4
Gross SF
2,752
Guarantor
Limited Corporate Guarantee
Rentable SF
2,752
Price/Gross SF
$454.22
Lease Type
Double Net
Rent Per Square Feet
$31.01

Investment Overview

Marcus & Millichap is pleased to present The Animals’ Hospital of Levittown (hereafter the “Property”). The Property is located at 2230 Bristol Oxford Valley Road in Levittown, PA 19057, with current improvements 100% occupied by VetCor. The location offers digital radiography services and consists of five patient rooms, two pet wards, laundry room, and a full in-hospital surgical suite and full dental suite. The additional non-patient facing space includes a manager's office, professional office, and two storage spaces. In 2017 the building underwent renovation which included updated internal layouts, and a new HVAC system. The Property is over an acre with commercial zoning and offers qualified buyers the opportunity to maximize the potential of this currently underutilized parcel less than 500 feet from the signalized intersection of New Falls Road and Bristol Oxford Valley Road which sees over 25,000 vehicles per day. The Animals’ Hospital of Levittown has been a staple in the local community for over thirty years. In 2011 The Animals’ Hospital of Levittown was purchased by VetCor. VetCor was established in 1997 and now operates over four hundred and ninety locations. The health system continues to expand their network of community-based animal hospitals and emergency service facilities and its highest concentration of locations can be found in the northeast where the company was founded. VetCor has recently exercised their second five-year option, with their third 5-year option remaining. The lease is Double Net and includes annual rental increases with a floor of two percent or CPI up to three percent. The landlord is responsible for HVAC replacement as well as repair, maintenance, and replacement of the roof and structure. The tenant is responsible for the real estate taxes, insurance, maintenance of building systems and CAM. Given the remaining lease term, additional room for development, and annual increases to rent, the Property presents to qualified buyers a stable investment with an appreciating stream of cash flow and the opportunity to add value.

Investment Highlights

  • Large Operator 490+ Locations
  • Long-Term Practice History in Levittown
  • Renovated in 2017
  • Annual Two Percent Rent Bump Floor

Exclusively Listed By

Financing By

Single-Tenant Office Medical

VetCor - The Animals' Hospital of Levittown

Listing Price: $1,250,000

Cap Rate
6.83%
Tenant Name
VetCor
Years Remaining On Lease
4.4
Gross SF
2,752
Guarantor
Limited Corporate Guarantee
Rentable SF
2,752
Price/Gross SF
$454.22
Lease Type
Double Net
Rent Per Square Feet
$31.01

Investment Highlights

  • Large Operator 490+ Locations
  • Long-Term Practice History in Levittown
  • Renovated in 2017
  • Annual Two Percent Rent Bump Floor

Investment Overview

Marcus & Millichap is pleased to present The Animals’ Hospital of Levittown (hereafter the “Property”). The Property is located at 2230 Bristol Oxford Valley Road in Levittown, PA 19057, with current improvements 100% occupied by VetCor. The location offers digital radiography services and consists of five patient rooms, two pet wards, laundry room, and a full in-hospital surgical suite and full dental suite. The additional non-patient facing space includes a manager's office, professional office, and two storage spaces. In 2017 the building underwent renovation which included updated internal layouts, and a new HVAC system. The Property is over an acre with commercial zoning and offers qualified buyers the opportunity to maximize the potential of this currently underutilized parcel less than 500 feet from the signalized intersection of New Falls Road and Bristol Oxford Valley Road which sees over 25,000 vehicles per day. The Animals’ Hospital of Levittown has been a staple in the local community for over thirty years. In 2011 The Animals’ Hospital of Levittown was purchased by VetCor. VetCor was established in 1997 and now operates over four hundred and ninety locations. The health system continues to expand their network of community-based animal hospitals and emergency service facilities and its highest concentration of locations can be found in the northeast where the company was founded. VetCor has recently exercised their second five-year option, with their third 5-year option remaining. The lease is Double Net and includes annual rental increases with a floor of two percent or CPI up to three percent. The landlord is responsible for HVAC replacement as well as repair, maintenance, and replacement of the roof and structure. The tenant is responsible for the real estate taxes, insurance, maintenance of building systems and CAM. Given the remaining lease term, additional room for development, and annual increases to rent, the Property presents to qualified buyers a stable investment with an appreciating stream of cash flow and the opportunity to add value.

Exclusively Listed By

Financing By

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