Tenant Overview:
The site is 100% leased to Veterinary Centers of America – Texas, Inc. dba VCA Animal Hospital (VCA) with approximately four (4) years remaining on the original seven (7) year term. VCA operates more than 540 animal hospitals in 41 states across the nation.
Improvements:
Roof replaced in 2009; flatwork (parking lot, drive-way and sidewalks) repaired in 2009; foundation reinforce- ment in 2011. Tenant recently invested in improvements of landscaping, new flooring, millwork, paint and IT sys- tems, solidifying their overall commitment to this location.
Expenses:
Landlord is responsible for foundation and structural elements; Tenant is responsible for all other expenses includ- ing taxes, insurance, roof, plumbing, sewer, septic, electri- cal, mechanical, and HVAC systems.
Site Overview:
The subject property has operated as a veterinary clinic since 1972, and is regarded as one of the most successful and largest clinics in Galveston County. The site is strategically located on Palmer Highway, Texas City’s most heavily traveled thoroughfare.
Area Overview:
The site is surrounded by heavy residential and commercial development. Area retailers in very close proximity include Walgreens, Domino’s Pizza, KFC, Subway and CVS Pharmacy.
- Address: 3015, Palmer Highway, Texas City, Texas 77590.
- Price: $ 1,087,738.25
- Available For:: Lease
- Building Area: 4,578 square feet (GCAD)
- Cap Rate: 8%
- Land Area:: 24,750 square feet (GCAD)
- Construction: 1 ½ story, steel & masonry construction
- Tenant: Veterinary Centers of America - Texas, Inc.
- Commencement: February 10, 2009
- Annual Rent: $87,019.06 (as of March 2011)
- Rent Increases: Two percent (2%) each year throughout the entire term of the lease
- Initial Lease Term: Seven (7) years
