NEW BALTIMORE ANIMAL HOSPITAL

12774 Route 9W, West Coxsackie, NY 12192
$792,200

Cap Rate
9.50%
Price Per SF
$160
Year Built
1972
Leasable Area
4,930 SF
Term Remaining
±5 YRS
NOI
$75,259

Broker of Record

  • Jeffrey Terwilliger
  • License No. 30TE0892302 (NY)
  • (607) 753-6556
  • Seven Valley Realty, Inc.
  • 4287 US-11,
    Cortland, NY 13045

PROPERTY HIGHLIGHTS

  • E-Commerce & Recession-Resistant Property – Veterinary properties are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties
  • Strong Performance History – VetCor acquired the practice in 2010 because of the site’s strong performance
  • Tenant Investment in Location – Veterinary Clinics rarely relocate due to difficulty retaining the same patients in a new location, and high costs of moving
  • Inflation-Protected Lease Structure – Lease Features 3% Annual Increases throughout base term and options

LOCATION HIGHLIGHTS

  • 26 Year operating history – The hospital had been operating since 1984 before the practice was acquired by VetCor in 2010, demonstrating and extremely strong track record and commitment to the site going forward
  • Low Surrounding Competition – There is just one other veterinary clinic within a 10-mile radius of the site, which helps New Baltimore Animal Hospital create a large market share and generate additional business from surrounding communities

TENANT HIGHLIGHTS

  • Expanding Operations – VetCor expands by acquiring the practices of existing and successful veterinary clinics that are established within their community. This allows them to quickly grow their footprint across new markets and states.
  • Perfectly Positioned Industry – Baby Boomers and Millennials are the largest population block in the United States and own the most pets. 84.6 Million Households own a pet in the United States.
  • Private Equity Backing – Private equity investment in VetCor by Harvest Partners and Cressey & Company provides significant capital to expedite their expansion and acquisition of new clinics.