Banfield Pet Hospital – Gainesville, FL

Banfield Pet Hospital
4209 Northwest 37th Place, Gainesville, FL 32606, USA

Sands Investment Group is pleased to exclusively offer for sale this 5,454 SF free-standing medical office building occupied by Banfield Pet Hospital, located at 4209 NW 37th Place in Gainesville, FL. This opportunity includes a corporate lease with Medical Management International, Inc., having 1,000+ locations across the U.S., Mexico, and Puerto Rico.

  • Best-In-Class Operator: Banfield Pet Hospital, a wholly owned subsidiary of Mars, Inc., is the 2nd largest veterinary hospital in the country, boasting over 1,000 locations.
  • Corporate Signature: The lease is signed by Banfield’s top-line entity (Medical Management International, Inc.), providing a guarantee of over 1,000 units.
  • Early Lease Extension: Banfield Pet Hospital recently executed an early 5-year extension, bumping the lease term to 8+ years, underscoring its long-term commitment to the site and the location’s strong operating performance within the brand.
  • Attractive Rent Growth and Long-Term Lease Structure: The lease features 10% rental increases every five years, along with three additional five-year renewal options, providing investors with long-term, stable cash flow and built-in rent growth over the hold period.
  • University of Florida-Anchored Economy: Gainesville is home to the University of Florida, a top-tier public university and major economic driver, supporting a large, stable employment base and consistent demand for medical and service-oriented real estate.
  • Population Growth Supporting Tenant Demand: Continued population growth driven by the University of Florida, healthcare employment, and in-migration supports long-term demand for essential services, reinforcing the stability of net lease investments in the market.

In Cooperation With SIG RE Services, LLC – Lic. #CQ1055229 BoR: Andrew Ackerman – Lic. FL #BK3369953

Banfield Pet Hospital
4209 Northwest 37th Place, Gainesville, FL 32606, USA

Banfield Pet Hospital

Banfield Pet Hospital is a wholly owned subsidiary of Mars Inc., a $45 billion a year corporation. Banfield Pet Hospital was founded in Portland, Ore. in 1955 and today is a pioneer in preventive veterinary care with more than 1,000 general veterinary hospitals in 42 states, Washington D.C., Puerto Rico, and Mexico. Every year more than 3,600 Banfield veterinarians provide high-quality veterinary care to over three million pets, including more than 2 million Optimum Wellness Plan clients. As part of the Mars Veterinary Health family of practices, Banfield’s 20,000 Associates nationwide are committed to positively impacting society through the Banfield Gives Back program and advancing veterinary medicine in service of our purpose — A BETTER WORLD FOR PETS — because pets make a better world for us.

Price

$2,626,087

Cap Rate

5.75%

PREMISES

5,454 SF

YEAR BUILT

1991

RENEWAL OPTIONS

4 x 5 Year Options

Lease Expiration

06/30/2034

Lease Type

NNN

RENTAL INCREASES

10% Every 5 Years

BROKERS

List with SIG

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