Two-Tenant Veterinary Medical
For Sale
Contact for pricing
12419 Metric Boulevard, Austin, TX 78758
Freestanding healthcare facility with separate leases supporting veterinary care and pet services.
Property Size10,500 SF
Lot Size0.50 Acres
Price / SF$243.05
Days on Market54
Property Features for 12419 Metric Boulevard
General Information
Standard status
Active
Size
10,500 SF
Lot size
0.50 Acres
Property subtype
Retail, Office, Special Purpose
Occupancy
100%
Lease Type
NNN
Investment Type
Core+
Net Operating Income
$165,897
Additional Details
Highway Access
Yes
Building Details
Year Built
1987
Buildings
1
Tenancy
Multi
Building Size
10,500 SF
Listing Agency:
JLL Austin
Listed By:
Kirby Hayes · License #TX 755222
Source:
Crexi
Added: Jul 29
Changed: Sep 10
Last Checked: Sep 19 at 8:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL Austin
Investment Insights
Based on property information with market context.
This fee-simple medical center contains 10,500 SF on a 0.5-acre parcel and was built in 1987. The freestanding property is configured for two tenants with separate lease agreements. Current operations include veterinary wellness, emergency care, ophthalmology, pet training, daycare, and boarding services through businesses supported by Thrive Pet Healthcare and National Veterinary Associates.
The property occupies a North Austin position along Metric Boulevard near the intersection with W Parmer Lane. Visibility extends to a combined 75,000+ VPD, with proximity to both Mopac Expy and Interstate-35. The site is 12.5 miles north of downtown Austin and 2.5 miles from The Domain. Lease terms include 3.00% annual rent escalations and a weighted average lease term of ±4.9 years. PetSuites of America, LLC occupies 33.33% of the property, while Pathway Vet Alliance, LLC leases the remaining 66.67%.
The property occupies a North Austin position along Metric Boulevard near the intersection with W Parmer Lane. Visibility extends to a combined 75,000+ VPD, with proximity to both Mopac Expy and Interstate-35. The site is 12.5 miles north of downtown Austin and 2.5 miles from The Domain. Lease terms include 3.00% annual rent escalations and a weighted average lease term of ±4.9 years. PetSuites of America, LLC occupies 33.33% of the property, while Pathway Vet Alliance, LLC leases the remaining 66.67%.
Key Highlights
- 10,500 SF medical center on a 0.5‑acre parcel
- Two‑tenant configuration with separate lease agreements
- 3.00% annual rent escalations and ±4.9‑year weighted average lease term
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$138,348
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,766,960
$2.8M
Cap Rate 7%
$1,976,400
$2.0M
Cap Rate 9%
$1,537,200
$1.5M
Market Conditions
NOI Build-Up for 10,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$252.0K $24.00/SF
− Vacancy
−$21.4K −$2.04/SF
EGI
$230.6K $21.96/SF
− OpEx
−$92.2K −$8.78/SF
NOI
$138.3K $13.18/SF
Area
Austin, TX
Vacancy
8.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,766,960
Cap Rate 7%
$1,976,400
Cap Rate 9%
$1,537,200
Alternative Uses
Best Use
Healthcare Medical
$1.98M
$1.73M – $2.31M
NOI $138,348 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.80M
NOI $288,022 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 78758, TX
49,831
Population
25,745
Households
1.9
Avg Household Size
32
Median Age
46%
College-Educated
85%
High-School Grad
9.1 sq mi
ZIP Area
5,476
Density / Sq Mi
$69,019
Median Household Income
$47,685
Median Earnings
$1,549
Median Rent
$419,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Freestanding healthcare facility with separate leases supporting veterinary care and pet services.
Where is this medical center located?
The property is located at 12419 Metric Boulevard Austin, TX.
What is the asking price?
The asking price for this property is $2,552,000.
What are key features of this property?
This property features: 10,500 SF medical center on a 0.5‑acre parcel; Two‑tenant configuration with separate lease agreements; 3.00% annual rent escalations and ±4.9‑year weighted average lease term
