Hanford Veterinary Hospital | 7 Years Remain 1417 Glendale Ave 8,000 SF Retail Building Hanford, CA 93230 $5,991,062 ($748.88/SF) 6.37% Cap Rate
INVESTMENT HIGHLIGHTS
- MORE THAN 7 YEARS REMAINING | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
- STRONG DEMOGRAPHICS IN 5-MILE TRADE AREA | HIGH BARRIERS TO ENTRY SUBMARKET
- EXCELLENT VISIBILITY | LOCATED OFF GLENDALE AVE | LOCATED ALONG MAJOR THOROUGHFARE
- LIMITED LANDLORD RESPONSIBILITIES | CORPORATE GUARANTEE | MANAGEMENT-FREE
EXECUTIVE SUMMARY
We are pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN leased, freestanding, Hanford Veterinary Hospital investment property located in Hanford, CA. The Tenant, NVA, has over 7.5 years remaining in their initial term with 2 5-year options. The lease also features rare rental increases of annual, uncapped CPI. The lease is a double net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. NVA The lease is corporate guaranteed by National Veterinary Associates, Inc. the largest private owner of freestanding veterinary hospitals with over 1,400 locations worldwide.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,000 SF
Year Built
2014
Price
$5,991,062
Price Per SF
$748.88
Cap Rate
6.37%
NOI
$381,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
5.76 AC
Zoning
C-H - Commercial
Parking
92 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
167’ on Lombard Street
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 011-060-054-000 | Improvements Assessment | $2,316,698 |
| Land Assessment | $139,820 | Total Assessment | $2,456,518 |
