Banfield Pet Hospital

13001 Hull Street Road, Midlothian, VA 23112

$3,637,000

Cap Rate 5.50%

Views: 115 DOM: 346 Updated: 06.17.24 Posted: 12.11.23 Status: Contract

Summary

Price $3,637,000	Built/Renov 1990/2023	Tenant Banfield Pet Hospital
Cap Rate 5.50%	Lease Type NN+	Guarantor Corp Rated
Size/SF 3,830	Lease Start 10-01-2023	#Units 1,079
Price/SF $949.61	Expiration 10-01-2033	Tenant Type Medical/Health
NOI $200,000	R. Term 8.10	Ownership Fee Simple
Rent/SF $52.22	Increases 10.0%/5/yrs	Pop 5Mi 119,143
Lot/AC 1.64	Options 2/5yrs/10%	AHHI 5Mi $139,542

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Banfield Pet Hospital recently executed a brand-new 10-year lease with 2 (5-year) options
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Favorable NN+ lease with landlord responsible for roof and structure | New roof with 20-year transferable warranty
Corporate guaranteed lease

Location Description

Banfield Pet Hospital is strategically located on Hull Street Road, with access to 74,688 vehicles passing by daily. The nearby immediate trade area boasts well-known national tenants, including Target, Starbucks, McDonald’s, Tropical Smoothie Café, Subway, and more. The property is conveniently situated, approximately 4 miles from Pocahontas State Park, 3 miles from Bon Secours St....

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Key Features

Recent renovation
Roof guarantee
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
Strong demographics
Brand new lease
Favorable NN+ lease
Corporate Guarantee
Credit rated company

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Links

Banfield Pet Hospital Wikipedia Banfield Pet Hospital Wikipedia Midlothian, Virginia Zip Code 23112 Broker Site Page

Maps

Local Information

1 Mile
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Tenant

Tenant: Banfield Pet Hospital
Guarantor:Corp Rated
Company:Mars, Inc.
# Units:1,079
Tenant S&P: A+
Moody’s: A1
Stock:Private

About Tenant

Banfield is the largest privately owned veterinary practice in the United States providing veterinary care for pets and selling discounted care packages called Optimum Wellness Plans. The...

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Listing Broker

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