1500 IL-37 - Veterinarian/Kennel FOR SALE


Marion, IL 62959
$1,095,000 USD
323-609-4405
1500 IL-37, Marion, IL for Sale
$1,095,000 USD
Veterinarian/Kennel - FOR SALE
1/6
null | 7.33% Cap Rate

1500 IL-37
Marion, IL 62959


HIGHLIGHTS

  • MORE THAN 5 YEARS REMAINING | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
  • EXCELLENT VISIBILITY | LOCATED OFF IL-37 | LOCATED ALONG MAJOR THOROUGHFARE
  • STRONG DEMOGRAPHICS IN 5-MILE TRADE AREA | HIGH BARRIERS TO ENTRY SUBMARKET | PROXIMITY TO LAKE OF EGYPT
  • LIMITED LANDLORD RESPONSIBILITIES | LOW-MANAGEMENT

OVERVIEW

TWG is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, CareVet of Southern Illinois investment property located in Marion, Illinois. The Tenant, CareVet, has over 5 years remaining in their initial term with 2 five (5) year options to extend. The lease features 2% annual rental increases. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years. CareVet of Southern Illinois is strategically located on IL-37 S. The site benefits from superior visibility via significant street frontage and a pylon sign with an LED screen situated along IL-37 S. It shares this busy Marion area with businesses like Subway, Wendy’s, Marathon, Dollar General. The location benefits from the frequent street traffic of IL-37 S, which sees 6,571 vehicles daily. The 5-mile trade area is supported by a population of 7,940 and 1,195 daytime employees with an average household income of $106,659.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$249 USD /SF

CAP RATE

7.33%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CareVet of Southern Illinois | NNN | 5 Years

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Veterinarian/Kennel

ADD'L SUBTYPES

Veterinarian/Kennel, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

27

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,060 SF

ZONING

-

APN/PARCEL ID

10-27-300-004

ASK ABOUT THIS PROPERTY

Brian WineTWGREMore Info
323-609-4405

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Brian WineTWGREMore Info
323-609-4405

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.