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Open Door Veterinary Care

1419 Patton Avenue, Asheville, NC 28806

$774,987

Cap Rate 7.50%

Views: 23 DOM: 23 Updated: 11.11.24 Posted: 10.23.24 Status: Active

Summary

Price $774,987
Tenant Open Door Veterinary Care
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,642
Lease Start 12-01-2024
#Units 2
Price/SF $293.33
Expiration 12-31-2034
Tenant Type Medical/Health
NOI $58,124
R. Term 10.1
Ownership Fee Simple
Rent/SF $22.00
Increases 2.5%/1/yrs
Pop 5Mi 96,384
Lot/AC 0.42
Options 2/5yrs/2.5%
AHHI 5Mi $97,989

Paul Messina
Sands Investment Group
Contact

Bart Tantillo
Sands Investment Group
Contact

Clifton McCrory
Sands Investment Group
Contact

Lease Highlights

  • Brand new 10-year sale-leaseback with 2 (5-year) options to extend
  • The lease features 2.5% annual rental increases
  • Absolute NNN lease | Zero landlord responsibilities
  • Sellers are not practicing Veterinarians, the sale will not negatively affect operations
  • The building sits outside of the flood zone in Asheville and was not affected by the hurricane
  • Personally guaranteed lease

Location Description

Open Door Veterinary Care is strategically located on Patton Avenue, with access to a robust daily traffic count of 47,015 vehicles. The property is surrounded by notable national tenants including Papa John's, Ace Hardware, Sherwin-Williams, Starbucks, McDonald's, and more. Key educational institutions nearby include Asheville High School, A.C. Reynolds Middle School, and Eagle School of...

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Key Features

  • Near major nationals

  • Strategically located

  • Freeway close

  • Strong demographics

  • Major MSA

  • Brand new lease

  • Long 10+ yr lease

  • Annual rent increases

  • Personal guarantee

    • ...

Links

Open Door Veterinary Care Wikipedia Asheville, North Carolina Zip Code 28806 Broker Site Page

Documents

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Open Door Veterinary Care is a privately owned veterinary clinic that provides high-quality, affordable care for pets, with a focus on accessibility and community support. Founded in 2020, Open...


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Listing Broker

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