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Banfield Pet Hospital NNN

4209 Northwest 37th Place · Gainesville, FL 32606 · Veterinary

Asking price
$2,626,087
Cap rate
5.75%
NOI
$151,000

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Lease

Lease typeNNN
Term remaining7.9 yrs
Expiration06/2034
Rent bumps10% Every 5 Years
Options3 x 5 Year Options
Ground leaseNo
Credit profileCorporate Guarantee
TenancySingle

Planning a 1031 Exchange

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Property

Building SF5,454
Price / SF$482
Year built1991
Lot size1.16 ac
TypeMedical Office
Days on market40

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • 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.

Property overview

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.​

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Asking-market observation aggregated from public listing sources, last observed Sep 4, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.