Cap Rate
7.03%
Price Per SF
$319
Gross SQFT
4,701
Occupancy
100%
Term Remaining
±4.74 YRS
NOI
$105,459
Property Type
Healthcare
LEAD LISTING AGENT
Andrew Evans
Vice President & Associate Director
Email
[email protected]
License No.
02055475 (CA)
Direct
+1 (949) 662-2256
Mobile
+1 (925) 360-0277
ADDITIONAL LISTING AGENT
INVESTMENT HIGHLIGHTS
- Safety and Livability – Nutley consistently ranks as one of the safest and most livable towns in New Jersey, making it an attractive place to live for families and individuals alike.
- National Veterinary Associates – NVA is one of the world’s largest veterinary and pet care service companies, operating over 1,400+ animal hospitals and pet resorts across the country.
- Easy Commute – With its proximity to major highways and public transportation options, Nutley offers residents an easy commute to nearby cities like New York City, just 12.5 Miles away from the site.
- Robust Industry Growth – The global veterinary services market size is expected to reach $142 Billion by 2025, with a CAGR of 5.6% during that period.
- Caters to Nearby Affluent Populations – The asset caters to over 238K residents within a 5-mile radius who boast an average household income of over $105K.
- Tenant Investment in Location – Pet Hospitals rarely relocate due to difficulty retaining the same patients in a new location, and the high costs of moving.
- Stable Investment – There are just under 5 years remaining on the lease. The tenant recently exercised their first option to extend the lease, showing commitment to the site.
- Very Passive Lease Structure – There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- Scheduled Rental Increases – CPI annual rental increases provide a future owner with a boost in cash flow and return on their investment, along with protection against inflation.
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 52 Park Avenue,
Suite B5 Park Ridge, NJ 07656