4108 S Adrian Hwy
Adrian, MI 49221
The Kelly Veterinary Clinic · Retail Property For Sale

Marcus & Millichap is pleased to present the compelling, single-tenant net-leased investment opportunity located at 4108 South Adrian Highway in Adrian, Michigan. The tenant is backed by Encore Vet Group, an established veterinary network operator with a strong national footprint. Currently, Encore Vet Group operates more than 55 animal hospitals across the United States, providing investors with the security of an experienced and well-capitalized operator. The property is secured by a double-net (NN) lease, promising minimal landlord responsibilities, and is further strengthened by a multi-unit subsidiary guarantee from all Encore animal hospitals in Michigan. Notably, the lease structure includes scheduled 2 percent annual rent increases, ensuring steady income growth and protection against inflation over the hold period. From an investment perspective, this asset benefits from strong industry fundamentals. Pet industry expenditure exceeds $136 billion, underscoring the resilience and recession-resistant nature of veterinary and pet care services. Demand for animal healthcare continues to rise due to increased pet ownership and higher spending per pet, positioning veterinary real estate as a durable and defensive asset class. With a reliable credit-supported tenant, built-in rent growth, limited management obligations, and exposure to a thriving
industry, this property represents an attractive opportunity for investors seeking stable cash flow and long-term value preservation.