Office for Sale in Erlanger, KY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Erlanger, KY 41018
  • Year built: 1929

Description

Marcus & Millichap is Pleased to Present The Erlanger Veterinary Hospital, Pet Resort and Day Spa, Located in Erlanger, Kentucky. The Animal Hospital Portion of the Property is 100 Percent Leased to National Veterinary Consolidator, Encore Vet Group, and the Pet Resort & Day Spa is Occupied by a Private Entity. Encore has Practiced at the Hospital Since 2021 and Currently has 5.7 Years of Term Remaining on the Original Ten-Year Lease with Three, 5 Year Renewal Options. The Property Requires Minimal Landlord Obligation Under the Triple-Net (NNN) Lease. Since COVID-19, Studies Show Over 23 Million American Households got Pets. Veterinary Practices were Deemed Essential Through the Pandemic and Continue to Grow as Safe and Secure Investments. Encore was Founded in 2018 and Currently have Over 55 Animal Hospitals Across the United States of America. Encore Vet Group is Currently Owned by Private Equity Firm “North Castle Partners,” who has an Estimated $1 Billion Assets Under Management. North Castle Partners Invests in Eight Specialized Industries and Own Other Companies such as Therabody, Windham Mountain, Sprout Organic Foods and more. In Total, 5 Practicing Veterinarians Provide a Wide Range of Veterinary Services Including General Wellness, Dental Care/Radiography, Preventative Care, Specialty/Referrals, Surgery, Diagnostic Testing, Ophthalmology, Internal Medicine, Dermatology and Dozens more. The Erlanger Veterinary Hospital, Pet Resort & Day Spa Stands at 13,650 Square Feet and Holds American Animal Hospital Association (AAHA) Accreditation. The Lease is Also Corporately Guaranteed and Provides a Strong Yield Against Inflation with Two Percent (2%) Annual Rent Increases. Investment Highlights: • ENCORE VET GROUP HAS OVER 50 VET HOSPITALS IN THE UNITED STATES • ERLANGER VET HOSPITAL HOLDS AAHA ACCRED. (12 PERCENT OF ALL HOSPITALS) • TRIPLE-NET (NNN) LEASE OFFERS MINIMAL LANDLORD RESPONSIBILITIES • EVH LEASE IS BACKED BY THE FULL CORPORATE ENTITY, ENCOREVET GROUP

Market Context

This office in Erlanger, KY is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1929. It has been on the market for 53 days. Compare it against other office listings for sale in Erlanger, KY — <a href="/search/sale/office/kentucky/erlanger">view the full market</a>.

Contact

Explore this market

Similar Office for Sale in Erlanger, KY