This is a build to suit 14,000 square foot facility on a 2 acre site on Hwy 190 Service Road .2 miles south of I-12. The lease is with PetSuites of America and is guaranteed by National Veterinary Associates (NVA, Inc.). The lease is an absolute Net, Net, Net lease with a primary term of 20 years with five - 5 year options to renew. The initial rental is $332,598.96 per year. The asking price is a 6.85% cap rate of the first year rent. The rent increases every 5 years by the increase in CPI capped at 12%. The building completion and rent commencement are expected to be in June 2018.
The property is well situated and highly visible in a high demographic market.
|Property subtype||Free-Standing Building|
|List price||$4,855,000 |
|Open house details|