2933 Ocean Gtwy | Cambridge, MD 21613
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2933 Ocean Gtwy
Cambridge, MD 21613
Retail Property For Sale
Executive Summary
Marcus & Millichap is pleased to present 2933 Ocean Gateway, Cambridge, Maryland. This
building was constructed in 1971 and is comprised of 4,758 square feet situated on 3.73 acres of
land.
The building is 100 percent occupied by Bayside Animal Hospital, operating under a double-net
lease structure with 1.025% annual rental increases and two 5-year renewal options. There are
approximately 6 years and 9 months remaining on the lease term, and the lease is backed by
a corporate guarantee from Vetco. Established in 1997, Vetcor has built a community-centric
veterinary services company supporting over 850 practices across the US and Canada. Vetcor
practices thrive with access to a collaborative network while staying true to themselves and their
community. All of their practices have a shared goal of providing excellent care and service to
both patients and clients in their communities.
Bayside Animal Hospital has been in business since 1980 and has grown tremendously over the
last few decades. The state-of-the-art facility was renovated in 2002, and ownership has added
more veterinarians and support staff. This facility is an AAHA Accredited Hospital. The hospital offers an array of services from diagnostic and surgical procedures to dental care and much more. There is an on-site pharmacy that offers specialty foods and medications for preventative care and illnesses, including flea and tick preventatives.
building was constructed in 1971 and is comprised of 4,758 square feet situated on 3.73 acres of
land.
The building is 100 percent occupied by Bayside Animal Hospital, operating under a double-net
lease structure with 1.025% annual rental increases and two 5-year renewal options. There are
approximately 6 years and 9 months remaining on the lease term, and the lease is backed by
a corporate guarantee from Vetco. Established in 1997, Vetcor has built a community-centric
veterinary services company supporting over 850 practices across the US and Canada. Vetcor
practices thrive with access to a collaborative network while staying true to themselves and their
community. All of their practices have a shared goal of providing excellent care and service to
both patients and clients in their communities.
Bayside Animal Hospital has been in business since 1980 and has grown tremendously over the
last few decades. The state-of-the-art facility was renovated in 2002, and ownership has added
more veterinarians and support staff. This facility is an AAHA Accredited Hospital. The hospital offers an array of services from diagnostic and surgical procedures to dental care and much more. There is an on-site pharmacy that offers specialty foods and medications for preventative care and illnesses, including flea and tick preventatives.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Veterinarian/Kennel
Building Size
4,758 SF
Building Class
C
Year Built/Renovated
1971/2002
Price
$1,100,000
Price Per SF
$231
Cap Rate
8.37%
NOI
$92,058
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
3.73 AC
Zoning
C - Commercial
Parking
17 Spaces (3.57 Spaces per 1,000 SF Leased)
Frontage
185 FT on Ocean Gateway
PROPERTY TAXES
| Parcel Number | 14-008632 | Improvements Assessment | $388,500 |
| Land Assessment | $170,900 | Total Assessment | $559,400 |
PROPERTY TAXES
Parcel Number
14-008632
Land Assessment
$170,900
Improvements Assessment
$388,500
Total Assessment
$559,400
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