Full-Service Veterinary NNN
For Sale
Contact for pricing
840 E Main St, Midlothian, TX 76065
NNN-backed veterinary hospital with onsite diagnostics, surgery, and pharmacy, plus boarding and grooming.
Property Size4,800 SF
Price / SF$324.73
Days on Market52
Property Features for 840 E Main St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Retail, Office
Additional Details
Business Included
Yes
Building Details
Year Built
1984
Tenancy
Single
Listing Agency:
Kidder Mathews Los Angeles West
Listed By:
Daniel Solomon · License #CA 02105991
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 6 at 3:35AM
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 Kidder Mathews Los Angeles West
Investment Insights
Based on property information with market context.
This property is a full-service animal hospital operated as the Midlothian Veterinary Clinic, offering comprehensive medical, surgical, and dental services. The facility includes in-house diagnostic testing, digital radiography, surgical suites, dental suites, and an on-site pharmacy. In addition to veterinary care, the clinic supports boarding and grooming services, providing complementary offerings within the same facility.
The real estate is offered with an NNN lease structure designed to limit landlord responsibilities. The lease is backed by a corporate guaranty from Vetcor, described in the lease highlights as a leading operator of community-based veterinary hospitals across the United States and Canada, supporting 905+ practices.
For buyers evaluating healthcare and specialty NNN assets, this combination of a purpose-built veterinary environment and a corporate guaranty is geared toward an investor who wants a straightforward, low-landlord-involvement model. The tenant setup also reflects the operational complexity of a modern veterinary practice, with on-site diagnostics, radiography, and clinical suites supporting day-to-day services. The property is located at 840 E Main St in Midlothian, Texas.
The real estate is offered with an NNN lease structure designed to limit landlord responsibilities. The lease is backed by a corporate guaranty from Vetcor, described in the lease highlights as a leading operator of community-based veterinary hospitals across the United States and Canada, supporting 905+ practices.
For buyers evaluating healthcare and specialty NNN assets, this combination of a purpose-built veterinary environment and a corporate guaranty is geared toward an investor who wants a straightforward, low-landlord-involvement model. The tenant setup also reflects the operational complexity of a modern veterinary practice, with on-site diagnostics, radiography, and clinical suites supporting day-to-day services. The property is located at 840 E Main St in Midlothian, Texas.
Key Highlights
- NNN lease structure designed for minimal landlord responsibilities
- Lease backed by a corporate guaranty from Vetcor, supporting 905+ veterinary hospital practices
- Full‑service veterinary clinic with comprehensive medical, surgical, and dental services
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
$60,826
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
3.90%
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%
$1,216,520
$1.2M
Cap Rate 7%
$868,943
$868.9K
Cap Rate 9%
$675,844
$675.8K
Market Conditions
NOI Build-Up for 4,800 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
$115.2K $24.00/SF
− Vacancy
−$13.8K −$2.88/SF
EGI
$101.4K $21.12/SF
− OpEx
−$40.6K −$8.45/SF
NOI
$60.8K $12.67/SF
Area
Ellis County, TX
Vacancy
12.00%
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%
$1,216,520
Cap Rate 7%
$868,943
Cap Rate 9%
$675,844
Alternative Uses
Best Use
Healthcare Medical
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$52.38M
$45.83M – $61.11M
NOI $3,666,314 @ 7.0% cap · market cap 235.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Explore this area
Business Placement
Demographics for 76065, TX
42,827
Population
15,081
Households
2.8
Avg Household Size
37
Median Age
36%
College-Educated
92%
High-School Grad
100.9 sq mi
ZIP Area
424
Density / Sq Mi
$123,664
Median Household Income
$61,420
Median Earnings
$1,873
Median Rent
$378,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - NNN-backed veterinary hospital with onsite diagnostics, surgery, and pharmacy, plus boarding and grooming.
Where is this medical center located?
The property is located at 840 E Main St Midlothian, TX.
What is the asking price?
The asking price for this property is $1,558,700.
What are key features of this property?
This property features: NNN lease structure designed for minimal landlord responsibilities; Lease backed by a corporate guaranty from Vetcor, supporting 905+ veterinary hospital practices; Full‑service veterinary clinic with comprehensive medical, surgical, and dental services
