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Views: 92 DOM: 264 Updated: 10.25.24 Posted: 02.08.24 Status: Active

Summary

Price $4,158,000
Built/Renov 2022
Tenant Petco
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,050
Lease Start 12-16-2022
#Units 1,423
Price/SF $376.29
Expiration 12-31-2037
Tenant Type General Retail
NOI $259,888
R. Term 13.2
Ownership Fee Simple
Rent/SF $23.52
Increases 8.5%/5/yrs
Pop 5Mi 20,985
Lot/AC 1.33
Options 5/5yrs/8.5%
AHHI 5Mi $52,159

Lease Highlights

  • Petco has 13+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 8.5% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Petco is strategically located at the signalized, hard corner intersection of Beaver Trail and Happy Valley Road, with a combined daily traffic count of 17,847 vehicles. National tenants in the vicinity include Walmart, Applebee's, McDonald's, Lowe's, Walgreens, and more. The 5-mile trade area is supported by a population of 20,985 with an average household income of $52,159. Glasgow is a home...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Petco
  • Guarantor:Corp T and Rated
  • Company:Petco Health & Wellness Company, Inc
  • # Units:1,423
  • Tenant S&P: B+
  • Moody’s: B3
  • Stock: NASDAQ: WOOF

About Tenant

Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) is an American pet retailer that sells pet food, pet supplies, small animals, and fish. Some stores offer services such as...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 608 14,867 22,132
2023 Total Population : 611 14,775 21,985
2023 Employed Civilian Pop : 295 5,602 8,514
2023 Total Businesses : 98 1,033 1,178
2023 Average Household Income : $ 72,566 $ 57,174 $ 62,466
2023 Total Consumer Spending : $ 12 M $ 308 M $ 488 M
2023 Median Age : 47 43 43
2023 Total Households : 203 6,106 8,892
2023 Pop Age 25+: Bachelor's Degree : 85 1,297 2,194
2023 Average Home Value : $ 199,486 $ 180,999 $ 197,987
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Happy Valley Road 2018 3,994 0.72 mi
Reynolds Road Ymca Way 2022 4,118 0.81 mi
Happy Valley Rd Valley View Dr 2014 13,145 0.91 mi
Veterans Outer Loop 2015 8,230 0.92 mi
West Main Street American Ave 2021 9,107 1.02 mi
Beaver Trl Veterans Outer Loop 2022 516 1.06 mi
US 68;KY 80 Veterans Outer Loop 2022 5,789 1.07 mi
Lexington Drive Cardinal Ct 2021 2,181 1.26 mi
Lexington Drive Cardinal Ct 2018 2,141 1.27 mi
Happy Valley Rd Dripping Springs Rd 2003 11,981 1.38 mi

Listing Broker

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