2505 S 80th St - Veterinarian/Kennel FOR SALE


Tacoma, WA 98409
$14,500,000 USD
206-493-2623
2505 S 80th St, Tacoma, WA for Sale
$14,500,000 USD
Veterinarian/Kennel - FOR SALE
1/5
null | 6.76% Cap Rate

2505 S 80th St
Tacoma, WA 98409


HIGHLIGHTS

  • BRAND NEW 10-YEAR LEASE RENEWAL
  • MISSION CRITICAL FACILITY
  • HEDGE AGAINST INFLATION

OVERVIEW

The Vara Group at Marcus & Millichap is pleased to present the sale offering for the NVA Summit Veterinary Referral Center located in Tacoma, WA. Built in 1999, this 27,199 SF facility features the most extensive animal related emergency services in Pierce County. This single tenant medical office is fully leased to NVA Summit Veterinary Management LLC and is backed by the largest private owner of freestanding veterinary hospitals in the United States, National Veterinary Associates Inc. This newly renewed 10-year, triple-net lease features strong annual rental increases of 3.5%, providing an appealing return, a hedge against inflation, and minimal landlord responsibilities. NVA has invested heavily in the medical buildout of the hospital, demonstrating their long-term commitment to the site. NVA Summit sits on a generous 1.57-acre lot and includes an ancillary parking lot that provides an additional 58 stalls. The property is located just off I-5, providing great access for employees and customers alike. Tacoma’s growing population rate, combined with over 60% of Washington households owning a pet, positions NVA Summit well for a continuation of strong profit growth within the veterinary services industry.

FOR SALE DETAILS

PRICE

$14,500,000 USD

PRICE/SF

$533 USD /SF

CAP RATE

6.76%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NVA Summit Veterinary Referral Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Veterinarian/Kennel

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

LAND ACRES

1.57 AC

LAND SF

68,389 SF

ZONING

MI

APN/PARCEL ID

032030-4102

ASK ABOUT THIS PROPERTY

Matthew HermanMarcus & MillichapMore Info
206-493-2623

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Matthew HermanMarcus & MillichapMore Info
206-493-2623

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.