Overview
Matthews™ is pleased to exclusively offer the opportunity to acquire a single-tenant veterinary clinic located in Winterville, NC, tenanted by Mission Pet Health. Mission Pet Health is one of the largest and most established veterinary platforms in the industry, partnering with locally led animal hospitals to preserve clinical autonomy and practice culture while supporting long-term success. Leveraging deep operational expertise, robust clinical resources, and continued investment in people and facilities, the platform empowers veterinary teams to deliver high-quality, compassionate care while sustainably expanding services across general practice, specialty, and emergency settings.
The lease has over ±8 years remaining, featuring built-in 2.5% annual rent increases and five (5), five (5) year renewal options. The purpose-built veterinary facility features a functional single-tenant layout, on-site parking, and a site configuration well-suited for long-term clinical use with limited future capital requirements. This property offers an attractive opportunity for local or national investors seeking a stable, long-term investment in the Greenville MSA.
Investment Highlights
- Stable Investment: There are over ±8 years remaining on the NNN lease featuring built-in annual rent bumps of 2.5% annually and five (5), five (5) year options to extend the lease.
- Scheduled Rental Increases | Built-In Inflation Protection: The lease includes annual rent escalations of 2.5%, ensuring steady growth in cash flow and a natural hedge against inflation for the future owner.
- Healthcare Real Estate | Recession Resistant Property: Veterinary Hospitals are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties.
- Prime Location: The ±10,000 SF practice is ideally located along Bayswater Rd, offering excellent visibility and easy access to transportation routes, including US-264 and NC-11.
- Comprehensive Services | Multi-Doctor Location: Firetower Animal Clinic offers a range of veterinary services, including wellness and preventative care, cardiology, endocrinology, microchipping, diagnostics, surgeries, and urgent care. Its diverse revenue streams provide stability and potential for growth in various service areas.
- Tenant Investment in Location: Pet Hospitals rarely relocate due to the difficulty of retaining the same patients in a new location and the high costs associated with moving and build-outs.
- Concentrated Corridor: The property is surrounded by a mix of residential communities, schools, parks, hospitals, and major retailers, including Target, Walmart Supercenter, Trader Joe’s, Sam’s Club, Lowe’s, Publix, Walton Academy, and Wintergreen Medical Center all just ±3 miles away.
- Very Passive Lease Structure: There are minimal landlord responsibilities throughout the lease term, offering a passive investment for both local and national investors.
- Robust Growth Industry: The global veterinary services market size is expected to reach $142 Billion by 2026, with a CAGR of 5.6% during that period.
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