915 Talbot St St Michaels, MD 21663-2643
- Specialty properties
- 1,854 SF
- 0.21 lot acres
Current Use by Public Records
- All Pets Veterinary Hospital / Veterinarian / Animal Hospital
Property Details for 915 Talbot St
- Year built
- 1940
- Construction
- WOOD
- Lot size
- 0.21 lot acres
- Property size
- 1,854 SF
- Property type
- Specialty properties
- APN
- 02-060043
- APU
- 2060043
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,348 square foot veterinary hospital in Saint Michaels, Maryland. The property, located at 915 S Talbot St, sits on a 0.2-acre lot and is currently 100% occupied under a 7-year Net Net (NN) lease with Heart + Paw Veterinary Hospital, commencing January 31, 2022, and expiring January 31, 2029. The lease boasts a remaining term of approximately 4.4 years and features a current annual net operating income (NOI) of $29,952, representing a 6.65% cap rate. The lease includes annual rent increases of 2.00%, providing protection against inflation. Furthermore, the lease agreement includes three, five-year tenant renewal options, offering the potential for a significantly extended lease term of up to 15 additional years. The property benefits from a long operational history as a veterinary clinic, exceeding 30 years. This presents a stable, low-maintenance investment with strong potential for long-term growth and passive income. The asking price for this fee-simple ownership is $450,000. This is a rare opportunity to acquire a well-established, high-performing veterinary clinic in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St Michaels
- County
- Talbot
- State
- Maryland
- Longitude
- -76.2185
- Latitude
- 38.7784
- CBSA code
- 20660
- CBSA name
- EASTON, MD MICROPOLITAN STATISTICAL AREA
