METROPOLITAN VETERINARY HOSPITAL 401 Fawcett Ave 4,792 SF Retail Building Tacoma, WA 98402 $1,907,785 CAD ($398.12 CAD/SF) 7% Cap Rate

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