9324 Us-290 Austin, TX 78736
- Office Properties & Spaces
- 8,664 SF
- 1.03 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 9324 Us-290
- Lot size
- 1.03 lot acres
- Property size
- 8,664 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents an 8,664-square-foot, multi-tenant veterinary hospital in Austin, TX, located at 9324 US-290, zip code 78736. The property sits on a 1.03-acre lot and boasts a 100% occupancy rate with a strong tenant roster including VetCor, Hill Country Automotive, and Spectrum Gulf Coast, LLC. The anchor tenant, VetCor, a significant operator of veterinary clinics with 890+ units nationwide, provides a corporate guarantee on a 10-year lease commencing August 6, 2024, and expiring July 31, 2034, with two 5-year renewal options. The lease features a 2% annual rent increase, ensuring consistent income growth. The property's Net Operating Income (NOI) is $326,623, resulting in a 6.25% cap rate. The asking price is $5,225,968, translating to $603.18 per square foot. The property is classified as a medical office, offering a stable and attractive investment profile. The location is strategically positioned approximately 13 miles from downtown Austin, a thriving city experiencing significant growth fueled by major corporations like Amazon, Google, Oracle, and Tesla. Two of the major tenants have a history of over 10 years at this location. The acquisition of the Austin Veterinary Diagnostic Hospital by VetCor underscores the clinic's strong performance and potential for continued success. This NNN lease structure minimizes landlord responsibilities, making it an ideal investment for passive income seekers.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Austin
- County
- Liberty
- State
- Texas
- Longitude
- -97.9315
- Latitude
- 30.2316
