Veterinary Medical
3451 Hubbell Ave, Des Moines, IA 50317
For Sale
$985,000
Freestanding veterinary care facility with an NN lease structure and a five-year renewal option.
Property Size4,000 SF
Price / SF$246.25
Days on Market47
Property Features for 3451 Hubbell Ave
General Information
Standard status
Size
Property subtype
Lease Type
Site & Location
Neighborhood
Additional Details
Cap Rate
Amenities
MPH has Over 840 Locations Across the U.S.
Double-Net (NN) Lease Offers Investor Minimal Landlord Obligations
MPH Has 5.7 Years of Term Remaining with One, Five-Year Renewal Option
Lease Features a Multi-Unit Subsidiary Guarantee that is Backed By Two (2) Hospitals
The Pet Industry Expenditure Exceeds $154 Billion
Building Details
Building Size
Tenancy
Listing Agency:
Minneapolis Office
Listed By:
Jon Ruzicka · License #License(s) IA: B63379000
(952) 852-9700
Source:
Marcusmillichap
Added: Sep 22
Changed: Oct 25
Last Checked: Nov 6 at 5:12AM
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 Minneapolis Office
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Investment Insights
Based on property information with market context.
Located at 3451 Hubbell Ave in Des Moines, Iowa, this 4,000-square-foot veterinary care facility is associated with Mission Pet Health, which operates more than 840 locations across the United States. The property is structured under a Double-Net (NN) lease, with approximately 5.7 years remaining and one five-year renewal option.
The facility serves a trade area with more than 124,000 residents within a five-mile radius. That population is projected to increase by approximately 3.5 percent over the next five years. The property is positioned within the U.S. pet care sector, where annual consumer spending exceeds $154 billion.
The facility serves a trade area with more than 124,000 residents within a five-mile radius. That population is projected to increase by approximately 3.5 percent over the next five years. The property is positioned within the U.S. pet care sector, where annual consumer spending exceeds $154 billion.
Key Highlights
- 4,000‑square‑foot veterinary care facility
- Double‑Net (NN) lease structure
- Approximately 5.7 years of remaining lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,704
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,080
$1.1M
Cap Rate 7%
$752,914
$752.9K
Cap Rate 9%
$585,600
$585.6K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$87.8K $21.96/SF
− Vacancy
−$17.6K −$4.39/SF
EGI
$70.3K $17.57/SF
− OpEx
−$17.6K −$4.39/SF
NOI
$52.7K $13.18/SF
Area
Des Moines, IA
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,080
Cap Rate 7%
$752,914
Cap Rate 9%
$585,600
Alternative Uses
Best Use
Office B
$752.9K
$658.8K – $878.4K
NOI $52,704 @ 7.0% cap · market cap 5.35%
Second Best
Healthcare Medical
$662.4K
$579.6K – $772.8K
NOI $46,368 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$985.1K
$862.0K – $1.15M
NOI $68,959 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Medical center - Freestanding veterinary care facility with an NN lease structure and a five-year renewal option.
Where is this medical center located?
The property is located at 3451 Hubbell Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 4,000‑square‑foot veterinary care facility; Double‑Net (NN) lease structure; Approximately 5.7 years of remaining lease term
