401 Fawcett Ave - Veterinarian/Kennel FOR SALE


Tacoma, WA 98402- Stadium District
$1,389,410 USD
310-709-8985
401 Fawcett Ave, Tacoma, WA for Sale
$1,389,410 USD
Veterinarian/Kennel - FOR SALE
1/10
null | 7% Cap Rate

401 Fawcett Ave
Tacoma, WA 98402
Stadium District


HIGHLIGHTS

  • Downtown Tacoma Location
  • Part Of The Greater Puget Sound Region
  • Diverse Employment Base
  • Revitalization & Infill Growth
  • Limited Supply Of Veterinary-Ready Real Estate
  • Prime Walk Score

OVERVIEW

METROPOLITAN VETERINARY HOSPITAL NNN Veterinary Hospital Investment Opportunity in Tacoma, Washington • Vetcor Corporate Guaranty: Lease is backed by a corporate guaranty from Vetcor – a leading operator of community-based veterinary hospitals across the United States and Canada, supporting 905+ practices. • Attractive Low Basis – Price & Rent / Sf: Offered at $289.94 per SF, with current rent at only $20.30 per SF, providing investors with a compelling below-replacement-cost basis and long-term upside potential. • 3% Annual Rental Increases: Lease features steady 3% annual increases, delivering consistent organic rent growth and inflation protection throughout the primary term. • Significant 10.5% Rent Increase In Upcoming Option Period: Upon tenant exercise of the next option period, base rent increases by 10.5%, creating a meaningful built-in rent bump and strong forward value enhancement (option at tenant’s discretion). • Full Building Occupancy – Recent Expansion: Vetcor expanded operations within the past few years and now occupies the entire 4,792 SF building, demonstrating operational growth and deepening commitment to this location. • Extensively Renovated In 2024: The property underwent significant renovations in 2024, signaling substantial tenant capital investment and long-term commitment to the site. • Passive NNN Structure: NNN lease structure provides minimal landlord responsibilities and a passive investment vehicle

FOR SALE DETAILS

PRICE

$1,389,410 USD

PRICE/SF

$290 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

METROPOLITAN VETERINARY HOSPITAL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Veterinarian/Kennel

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,027 SF

ZONING

DR

APN/PARCEL ID

200409-0011

ASK ABOUT THIS PROPERTY

Daniel SolomonKidder MathewsMore Info
310-709-8985

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

Daniel SolomonKidder MathewsMore Info
310-709-8985

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