Leased Veterinary Hospital
6231 Reynolds Rd Mentor, OH 44060
6231 Reynolds Rd, Mentor, OH, 44060
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For Sale
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Two veterinary hospital properties in Mentor are 100% leased on triple-net terms.
Property Size11,198 SF
Price / SF$184.14
Days on Market15
Property Features for 6231 Reynolds Rd
General Information
- Standard status
- Active
- Size
- 11,198 SF
- Property subtype
- Office
Building Details
- Year Built
- 1956
Listing agency
Marcus & Millichap - Cleveland
(216) 264-2049
Listed by
William Skoch · License #OH #SAL.2021008491
Source
Crexi
Added: Jul 7 Updated: Jul 21 at 2:50PM Checked: Jul 21 at 2:50PM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
Marcus & Millichap presents The National Veterinary Associates (NVA) Portfolio, offering two veterinary hospital properties located in Mentor, Ohio. The portfolio includes Brightwood Animal Hospital and Mentor Animal Hospital. Both properties are 100% leased to National Veterinary Associates, along with two local tenants, under triple-net (NNN) leases.
The leases include 2% annual rent increases. The portfolio is described as providing a stable income stream with minimal landlord obligations, supported by a credit-rated tenant backed by JAB Holding Company, which is noted as having a Baa1 Moody’s credit rating and managing over $50 billion in assets.
This offering is structured as a two-property NNN portfolio for investors seeking leased veterinary facilities with contractual annual rent escalations.
The leases include 2% annual rent increases. The portfolio is described as providing a stable income stream with minimal landlord obligations, supported by a credit-rated tenant backed by JAB Holding Company, which is noted as having a Baa1 Moody’s credit rating and managing over $50 billion in assets.
This offering is structured as a two-property NNN portfolio for investors seeking leased veterinary facilities with contractual annual rent escalations.
Key Highlights
- Two veterinary hospital properties in Mentor, Ohio: Brightwood Animal Hospital and Mentor Animal Hospital
- Both properties are 100% leased on triple‑net (NNN) terms to National Veterinary Associates and two local tenants
- NNN leases include 2% annual rent increases
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $237.8k | $21.24 |
| − Vacancy | −$29.7k | −$2.66 |
| EGI | $208.1k | $18.58 |
| − OpEx | −$83.2k | −$7.43 |
| NOI | $124.9k | $11.15 |
11,198 SF · lease $21.24/SF/yr · vacancy 12.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.78M
$1.56M – $2.08M
NOI $124,869 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,043 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical centers
Similar For Sale Nearby
FAQs
What type of property is this?
Medical center - Two veterinary hospital properties in Mentor are 100% leased on triple-net terms.
Where is this medical center located?
The property is located at 6231 Reynolds Rd Mentor, OH.
What is the asking price?
The asking price for this property is $2,062,000.
What are key features of this property?
This property features: Two veterinary hospital properties in Mentor, Ohio: Brightwood Animal Hospital and Mentor Animal Hospital; Both properties are 100% leased on triple‑net (NNN) terms to National Veterinary Associates and two local tenants; NNN leases include 2% annual rent increases
