Thrive Pet Healthcare
Queens, NY
Key Details
| Price: | $3,059,816 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $183,589 |
| Address: | 23-70 Steinway Street, Queens, New York 11105 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/1/2022 |
| Lease Expiration: | 8/31/2032 |
| Lease Term Remaining: | 7.5 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.06 Acres |
| Building Size: | 3,300 SF |
| Year Built: | 1930 |
| Year Renovated: | 2017 |
NNN Pro is pleased to present the exclusive listing for a Thrive Pet Healthcare located at 23-70 Steinway Street, Queens, New York 11105. The site consists of roughly 3300 rentable square feet of building space on an estimated 0.06-acre parcel of land. This Thrive Pet Healthcare is subject to a 10-year Double Net (NN) lease, which commenced 9/1/2022. The current annual rent is $183,589 and has scheduled increases of 2.00% Annually.
About the Investment
- Great Site Level Performance | This site boasts extremely strong site-level economics, including EBITDAR coverage and overall sales volume. Inquire with the listing agent for more information.
- Corporate Guarantee | This lease features a corporate guarantee from Thrive Pet Healthcare. Thrive Pet Healthcare is a leading owner and operator of over 340 general practice, specialty, and emergency veterinary hospitals throughout the U.S. and also operates over 115 veterinary clinics, which provide convenient care to under-served pet families. The company was bought by TSG Consumer, a global leader in consumer-focused investing with over $16 billion of assets under management.
- 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.
Key Details
| Price: | $3,059,816 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $183,589 |
| Address: | 23-70 Steinway Street, Queens, New York 11105 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 10 Years |
|---|---|
| Lease Commencement: | 9/1/2022 |
| Lease Expiration: | 8/31/2032 |
| Lease Term Remaining: | 7.5 Years |
| Rental Increases: | 2.00% Annually |
| Lot Size: | 0.06 Acres |
| Building Size: | 3,300 SF |
| Year Built: | 1930 |
| Year Renovated: | 2017 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Russell Wachtler
rwachtler@nnnpro.com
License: NY: 10401294048
Adam Friedlander
afriedlander@nnnpro.com
License: NY: 10301213841
Blake Woods
bwoods@nnnpro.com
License: NY: 10401388437
Broker of Record
Glen Kunofsky
NNN Properties, LLC
License: 49KU1129178
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.