7051 Mill RdBrecksville, OH 44141

For Sale
$740,100

High-yield veterinary clinic, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
91
This 5,892 sq ft veterinary clinic in Brecksville, OH, presents a compelling investment opportunity. Currently 100% occupied by VetCor, a major US veterinary operator, the property boasts a strong 7% cap rate and a substantial NOI of $51,807. The NNN lease features a remaining term of three years with a five-year renewal option and 2% annual rent increases, providing a hedge against inflation. Built in 1950, the property is situated on a 0.30-acre lot in a high-income area (5-mile radius average household income: $114,214). The veterinary services market is projected for significant growth, further enhancing the long-term value of this investment. The asking price is $740,100, translating to $125.61 per square foot. This property offers a stable, passive income stream in a resilient industry, supported by a financially strong and established tenant with a large client base. The location in Brecksville, Ohio, offers excellent visibility and accessibility, with ample parking. The property's strong financials, coupled with the tenant's stability and market growth projections, make this an attractive investment opportunity.

Highlights

  • $740,100 asking price for a 5,892 SF veterinary clinic in Brecksville, OH.
  • NNN lease with 3 years remaining, plus a 5-year option.
  • 100% occupancy with a 7.00% cap rate and $51,807 NOI.
  • VetCor, a large national veterinary operator, is the tenant with 2% annual rent increases.
  • Strong demographics: 5-mile radius boasts 75,354 residents with an average household income of $114,214.

Property Details for 7051 Mill Rd

Property type
Other retail properties, Retail properties
Square Feet
5,892 SF
Year Built
1950

Location Insight

City
Brecksville
County
Cuyahoga
State
Ohio
Latitude
41.322643764378
Longitude
-81.627420908613
7051 Mill Rd, Brecksville, Ohio

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7051 Mill Rd
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