24 Lance St Blue Ridge, GA 30513
- Office Properties & Spaces
- 3,767 SF
- 0.62 lot acres
Current Use by Public Records
- Cohutta Animal Clinic / Veterinarian
Property Details for 24 Lance St
- Year built
- 2023
- Lot size
- 0.62 lot acres
- Property size
- 3,767 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 3,767 square foot medical office building, newly constructed in 2023, located at 24 Lance Street, Blue Ridge, GA 30513. The property is 100% occupied under a 15-year absolute triple-net (NNN) lease with Western Veterinary Partners, a rapidly expanding national veterinary clinic operator with over 200 locations. The lease commenced October 23, 2023, and includes 3% annual rent bumps, providing predictable income growth. The current asking price is $2,987,198, representing a 7.25% cap rate and a price per square foot of $792.99. The property boasts a 0.62-acre lot and features a surgery suite, dental suite, in-house lab, and grooming area. The lease includes two 5-year renewal options, extending the investment's potential well into the future. This is a corporate-guaranteed lease with minimal landlord responsibilities, making it an ideal low-maintenance, high-return investment. The tenant's strong financial performance and the inherent resilience of the veterinary services market, which has seen significant revenue growth, further enhance the investment's appeal. The property's location in Blue Ridge, Georgia, offers a stable and growing market for veterinary services. This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Blue Ridge
- County
- Fannin
- State
- Georgia
- Longitude
- -84.3009
- Latitude
- 34.8743
