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VetCor

11462 Okeechobee Blvd, Royal Palm Beach, FL 33411

$806,937

Cap Rate 6.50%

Views: 136 DOM: 88 Updated: 04.25.24 Posted: 02.18.24 Status: Active 02.18.24

Summary

Price $806,937
Built/Renov 1989
Tenant VetCor
Cap Rate 6.50%
Lease Type NN+
Guarantor Corporate
Size/SF 4,446
Lease Start 05-28-2021
#Units 862
Price/SF $181.50
Expiration 05-31-2026
Tenant Type Medical/Health
NOI $52,451
R. Term 2.0
Ownership Fee Simple
Rent/SF $11.80
Increases 3.0%/1/yrs
Pop 5Mi 129,362
Lot/AC 0.54
Options 3/5yrs/3%
AHHI 5Mi $107,593

Kaveh Ebrahimi
Helios
Contact

Lease Highlights

  • Vector has 2+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 3% annual rental escalations throughout the initial term and each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

VetCor is strategically located on Okeechobee Blvd., with access to 40,500 vehicles passing by daily. The property is situated directly across from the trails at Royal Palm Beach and the Village Golf Club. National tenants in the vicinity include NAPA, CVS Pharmacy, McDonald's, Dollar Tree, Wells Fargo, and more. The 5-mile trade area is supported by a population of 129,362 residents with an...

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Key Features

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Strong demographics

  • Income tax free state

  • Favorable NN+ lease

  • Annual rent increases

  • Corporate Guarantee

  • Over 500 units backed

    • ...

Links

VetCor Wikipedia Royal Palm Beach, Florida Zip Code 33411 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: VetCor
  • Guarantor:Corporate
  • Company:VetCor Group Holdings Corp
  • # Units:862
  • Stock:Private

About Tenant

VetCor is one of the largest veterinary services providers in North America. The private company partners with local veterinary clinics and streamlines all administrative, operational, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,266 58,880 129,952
2023 Total Population : 12,481 59,017 129,656
2023 Employed Civilian Pop : 6,527 31,407 68,866
2023 Total Businesses : 517 2,694 6,515
2023 Average Household Income : $ 105,484 $ 118,473 $ 120,715
2023 Total Consumer Spending : $ 412 M $ 2116 M $ 4870 M
2023 Median Age : 42 41 42
2023 Total Households : 4,560 20,909 47,208
2023 Pop Age 25+: Bachelor's Degree : 1,880 10,062 23,778
2023 Average Home Value : $ 406,917 $ 433,396 $ 462,963
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Okeechobee Boulevard Lakeview Cir 2022 40,500 0.23 mi
Ponce de Leon St Partridge Ln 2013 7,513 0.29 mi
Partridge Ln Sparrow Dr 2013 5,791 0.30 mi
Okeechobee Rd Lakeview Cir 2019 47,188 0.32 mi
Royal Palm Beach Blvd Civic Center Way 2013 13,952 0.33 mi
Royal Palm Beach Blvd Palm Beach TrceDr 2013 21,996 0.38 mi
Okeechobee Rd Civic Center Way 2019 31,199 0.51 mi
Okeechobee Rd S Swallow Blvd 2017 43,623 0.61 mi
Sparrow Dr PkRd N 2011 1,050 0.71 mi
S Swallow Blvd Okeechobee Rd 2013 3,720 0.72 mi

Listing Broker

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