4050 Britton PkwyHilliard, OH 43026

For Sale
$15,552,650

High-yield, 15-year NNN lease in Columbus, OH.

Overview

Added:
Dec 11, 2024
Days on market:
91
This exceptional investment opportunity presents a newly constructed, 13,687 square foot, state-of-the-art 24/7 animal emergency and specialty care hospital in Hilliard, Ohio, a suburb of Columbus. The property boasts a 15-year absolute NNN lease with MedVet Associates, LLC, a leading specialty healthcare provider for pets, commencing January 1, 2025. The lease features three 5-year renewal options and attractive 1.7% annual rent increases. The building, completed in 2024, offers advanced technology including CT, dedicated surgical suites, digital radiograph, endoscopy, and point-of-care ultrasound. Situated on a 3.26-acre lot with 72 parking spaces, the single-story building is zoned as Planned Unity Development District (PUD). The property enjoys a 100% occupancy rate, generating a strong NOI of $933,159 and a 6.00% cap rate. The asking price is $15,552,650, translating to $1,136.31 per square foot. This represents a secure, long-term investment in a rapidly growing market, anchored by a financially strong, reputable tenant with a significant presence in the Columbus metropolitan area. The property is located at 4050 Britton Pkwy, Hilliard, OH 43026, within the Columbus MSA, and benefits from its proximity to other MedVet facilities. This is a fee-simple ownership opportunity with a corporate guarantee.

Highlights

  • 15-Year Absolute NNN Lease with 1.7% annual rent increases, commencing January 2025, with MedVet Associates LLC.
  • New 24/7 state-of-the-art animal emergency and specialty care hospital, built-to-suit for MedVet, completing January 2025.
  • MedVet, a leading specialty pet healthcare provider with 37 national locations and expanding.
  • 24-hour emergency and specialty care hospital featuring CT, surgical suites, digital radiography, endoscopy, and point-of-care ultrasound.
  • Located northwest of Columbus, OH (32nd largest MSA, population >2.18 million), near MedVet headquarters and other key facilities.

Property Details for 4050 Britton Pkwy

Property type
Other office properties, Medical offices
Square Feet
13,687 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
142,006 SF

Location Insight

City
Hilliard
County
Franklin
State
Ohio
Latitude
40.0359721
Longitude
-83.1302373
4050 Britton Pkwy, Hilliard, Ohio

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4050 Britton Pkwy
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