Petco

2918 Church Street, Conway, SC 29526

$5,106,000

Cap Rate 6.00%

Views: 88 DOM: 281 Updated: 10.25.24 Posted: 02.08.24 Status: Active

Summary

Price $5,106,000	Built/Renov 2024	Tenant Petco
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,900	Lease Start 03-20-2024	#Units 1,423
Price/SF $468.44	Expiration 03-31-2039	Tenant Type General Retail
NOI $306,388	R. Term 14.4	Ownership Fee Simple
Rent/SF $28.11	Increases 8.5%/5/yrs	Pop 5Mi 33,274
Lot/AC 1.77	Options 5/5yrs/8.5%	AHHI 5Mi $61,450

Klinton Lewis

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Lease Highlights

Brand-new 2024 construction
Brand new 15-year lease 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 on Church Street, facing US Highway 501, with access to 25,767 vehicles passing by daily. Surrounding national tenants include Aldi, Goodwill, Sunoco, Waffle House, and more. The 5-mile trade area is supported by a population of 33,274 with an average household income of $61,450. Conway is a city and the county seat of Horry County, South Carolina. According to...

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Major MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Petco Wikipedia Petco Wikipedia Conway, South Carolina Zip Code 29526 Broker Site Page

Maps

Local Information

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 :	2,336	20,823	35,239
2023 Total Population :	2,200	19,390	33,025
2023 Employed Civilian Pop :	778	7,180	12,832
2023 Total Businesses :	131	804	1,457
2023 Average Household Income :	$ 62,590	$ 58,917	$ 65,778
2023 Total Consumer Spending :	$ 45 M	$ 410 M	$ 758 M
2023 Median Age :	36	38	39
2023 Total Households :	837	7,957	13,164
2023 Pop Age 25+: Bachelor's Degree :	114	1,123	2,170
2023 Average Home Value :	$ 262,971	$ 232,302	$ 246,243

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Cultra Road	Wilbur Dunn Pl	2022	9,200	0.78 mi
	Westridge Blvd	2022	16,400	1.50 mi
Four Mile Road	Kingston Oaks Dr	2022	3,000	1.62 mi
Oak Street	Boundary St	2022	5,100	1.69 mi
Church Street	Church St	2022	36,700	1.73 mi
Mill Pond Road	Oak St	2021	8,700	1.77 mi
Mill Pond Road	Magnolia Dr	2021	6,900	1.88 mi
Oak Street	Elm St	2021	1,600	2.00 mi
Hwy 548	Wayside Rd	2022	3,000	2.14 mi
16th Avenue	Elizabeth St	2022	10,300	2.17 mi

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