Veterinary Emergency Group (GL)

4048 Morse Road, Columbus, OH 43230

$4,166,667

Cap Rate 6.00%

Views: 91 DOM: 184 Updated: 07.21.24 Posted: 05.21.24 Status: Active

Summary

Price $4,166,667	Built/Renov 2024	Tenant Veterinary Emergency Group (GL)
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,605	Lease Start 01-03-2024	#Units 75
Price/SF $743.38	Expiration 01-31-2039	Tenant Type Medical/Health
NOI $250,000	R. Term 14.2	Ownership Ground Lease
Rent/SF $44.60	Increases 10.0%/5/yrs	Pop 5Mi 270,746
Lot/AC 0.62	Options 2/5yrs/10%	AHHI 5Mi $101,196

Lease Highlights

Brand new 2024 construction
Veterinary Emergency Group recently executed a brand new 15-year ground lease with 2 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

This newly constructed Veterinary Emergency Group is positioned at the intersection of Transit Drive and Morse Road with access to 53,000 vehicles passing daily. The site is just off of Interstate 270, an auxiliary interstate highway that forms a beltway loop freeway, which sees over 160,000 VPD. Neighboring national/credit tenants in the area include Costco, Whole Food’s, Petco, McDonald's,...

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Key Features

New construction
Build to suit
High traffic 50M+ VPD
Strategically located
Freeway visibility
Top 100 MSA
Brand new lease
Long 10+ yr lease
Corporate Guarantee

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Links

Veterinary Emergency Group Wikipedia Columbus, Ohio Zip Code 43230 Broker Site Page Drone Video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Veterinary Emergency Group
Guarantor:Corporate
Company:Veterinary Emergency Group
# Units:75
Stock:Private

About Tenant

Veterinary Emergency Group (VEG) is an operator of emergency veterinary care clinics that offer pet owners urgent care services for their pets. Their clinics offer emergency medical services...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	6,621	115,770	286,771
2024 Total Population :	6,580	113,923	283,914
2024 Employed Civilian Pop :	3,855	61,233	148,881
2024 Total Businesses :	724	3,703	9,093
2024 Average Household Income :	$ 98,627	$ 95,508	$ 97,915
2024 Total Consumer Spending :	$ 255 M	$ 3773 M	$ 9773 M
2024 Median Age :	35	35	36
2024 Total Households :	2,935	44,702	113,056
2024 Pop Age 25+: Bachelor's Degree :	1,460	19,643	48,206
2024 Average Home Value :	$ 310,473	$ 296,703	$ 307,582

*ESRI data is presented for informational purposes only

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