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Thrive Pet Healthcare (2025) - Marathon, FL 5001 Overseas Hwy 6,000 SF Retail Building Marathon, FL 33050 $3,740,880 CAD ($623.48 CAD/SF) 6.86% Cap Rate
Investment Highlights
- Thrive Pet Healthcare is a leading national veterinary services platform, operating more than 400 clinics across 37 states.
- Situated in Marathon, FL, a central hub in the Florida Keys, this location captures year-round demand from both residents and seasonal visitors.
- High barrier-to-entry market - limited commercial real estate availability and strict zoning regulations in the Keys.
- Thrive Pet Healthcare has executed the first of four (5-year) lease renewal options, featuring 3% annual rent increases.
- Marathon Veterinary Hospital is the largest and best-equipped animal care facility in the region, offering comprehensive services.
- The hospital holds AAHA (American Animal Hospital Association) accreditation—a distinction earned by about 15% of veterinary practices in the U.S.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale this 6,000 SF single-tenant Marathon Veterinary Hospital, located at 5001 Overseas Hwy in Marathon, FL. The property is leased to Thrive Pet Healthcare (a 400+ unit operator), which has executed the first of four (5-year) renewal options, featuring 3% annual rent escalations and minimal landlord responsibilities. The property has dedicated parking and is located on a well-trafficked corridor with direct access and visibility from the main thoroughfare. With consistent rent growth and reliable cash flows, this offering is a rare opportunity to acquire the largest credit-backed veterinary asset in a supply-constrained Florida Keys market.
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1973/2024
Price
$3,740,880 CAD
Price Per SF
$623.48 CAD
Cap Rate
6.86%
NOI
$256,537 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.46 AC
Zoning
MU
Frontage
200’ on Overseas Hwy
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Marathon Veterinary Hospital
- Health Care and Social Assistance
- 6,000 SF
- $42.75 CAD
- Triple Net
- Oct 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Marathon Veterinary Hospital | Health Care and Social Assistance | 6,000 SF | $42.75 CAD | Triple Net | Oct 2030 |
Bike Score®
Very Bikeable (88)
Nearby Major Retailers
Property Taxes
| Parcel Number | 00324380-000000 | Improvements Assessment | $1,174,423 CAD |
| Land Assessment | $970,452 CAD | Total Assessment | $2,144,875 CAD |
Property Taxes
Parcel Number
00324380-000000
Land Assessment
$970,452 CAD
Improvements Assessment
$1,174,423 CAD
Total Assessment
$2,144,875 CAD
Contacts
-
Gage Earnhart -
Corey Antonishen -
Kristen Pierson -
Andrew Ackerman -
Sands Investment Group Austin, LLC
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Thrive Pet Healthcare (2025) - Marathon, FL | 5001 Overseas Hwy
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