March 18, 2021 – Luke Thomson of Horvath & Tremblay has successfully completed the sale of NextCare Urgent Care in Port Lavaca, Texas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,040,000.
The property is a freestanding, absolute NNN leased, NextCare Urgent Care investment property located at 603 State Highway 35 in Port Lavaca, Texas. The tenant, NextCare Texas, LLC, recently signed a brand new 11-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features rare 2% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed and is absolute NNN, with zero landlord responsibilities making it an ideal, management-free investment. The property is located along, State Highway 35 (13,700 VPD), with a large pylon sign providing excellent visibility. State Highway 35 is the major retail thoroughfare serving the city of Port Lavaca, TX. The asset is less than 1-mile from Memorial Medical Center Hospital, providing a direct customer base to draw from. Nearby national/credit tenants including a 24-hour Walmart Supercenter, Hibbett Sports, Walgreens, Dollar Tree, McDonald’s, Sonic and more, increasing the consumer draw to the trade area. The 5-mile trade area is supported by a population of over 47,400 residents with an average household income of $69,000. Moreover, within a 1-mile trade area the average household income is $93,400, well above the national average.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.