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Views: 98 DOM: 317 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 14.3
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

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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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 : 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

Listing Broker

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