Long Beach, CA - Stitches Veterinary Surgery

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, Stitches Veterinary Surgery Corp investment property located in Long Beach, California. The tenant recently signed a brand new 10.5 year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 3% annual rental increases throughout the initial term and each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The asset has significant street frontage along N. Bellflower Boulevard (35,000 VPD) and is directly accessible via on/off ramps of Interstate-405 (300,000 VPD), a major north/south highway serving commuters throughout Los Angeles and Orange County. The site will receive significant crossover retail exposure from its position directly across from the Los Altos Shopping Center, anchored by Target and Trader Joe’s, the center ranks in the top 97th percentile among shopping centers nationwide with 6.1M+ annual visits (per Placer.ai). Other nearby national/credit tenants include Walmart Supercenter, Sam’s Club, Costco, Home Depot, Whole Foods, Amazon Fresh, and Sprouts. The tenant will have access to an abundant consumer base, comprised of affluent communities in Long Beach and the Greater Los Angeles County. The 5-mile trade area is supported by a population of over 538,400 residents and 241,200 employees with an average household income of $127,561. Furthermore, the subject property is 1-mile from California State Long Beach, one of the largest universities in the state with 39,000+ students and less than 3-miles from the Long Beach Airport, serving 3.7M+ annual passengers.

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Listing ID: a28TP000000TgyLYAS