Petco

1630 Coshocton Avenue, Mount Vernon, OH 43050

$4,720,000

Cap Rate 6.00%

Views: 134 DOM: 322 Updated: 10.25.24 Posted: 02.09.24 Status: Active

Summary

Price $4,720,000	Built/Renov 2023	Tenant Petco
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,900	Lease Start 05-24-2023	#Units 1,423
Price/SF $433.03	Expiration 05-31-2038	Tenant Type General Retail
NOI $283,111	R. Term 13.5	Ownership Fee Simple
Rent/SF $25.97	Increases 8.5%/5/yrs	Pop 5Mi 30,416
Lot/AC 1.69	Options 5/5yrs/8.5%	AHHI 5Mi $67,941

Klinton Lewis

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Lease Highlights

Brand new 2023 construction
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 periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Petco is strategically located on Coshocton Ave, with access to 10,320 vehicles passing by daily. The property is surrounded by well-known national tenants, including Staples, Dairy Queen, Bob Evans, Aldi, Verizon, Walmart, and more. The 5-mile trade area is supported by a population of 30,416 with an average household income of $67,941. Mount Vernon is a city in Knox County, Ohio, serving as...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Over 1000 units backed

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Links

Petco Wikipedia Petco Wikipedia Mount Vernon, Ohio Zip Code 43050 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 :	2,548	20,339	29,251
2023 Total Population :	2,516	20,239	29,178
2023 Employed Civilian Pop :	1,015	8,866	12,996
2023 Total Businesses :	241	847	1,146
2023 Average Household Income :	$ 97,744	$ 77,896	$ 83,009
2023 Total Consumer Spending :	$ 99 M	$ 528 M	$ 816 M
2023 Median Age :	55	39	40
2023 Total Households :	1,174	7,728	11,234
2023 Pop Age 25+: Bachelor's Degree :	465	2,209	3,050
2023 Average Home Value :	$ 231,114	$ 218,189	$ 226,067

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Yauger Rd	Autumn Run	2016	3,221	0.45 mi
Yauger Road	Waters Edge Dr	2021	3,200	0.47 mi
Upper Gilchrist Road	Yauger Rd	2021	4,581	0.61 mi
Coshocton Road	Upper Gilchrist Rd	2021	10,229	0.69 mi
Coshocton Road	Vernonview Dr	2021	18,919	0.84 mi
COSHOCTON AVE	Vernonview Dr	2020	17,215	0.86 mi
Vernonview Drive	Fairway Dr	2021	4,653	0.88 mi
Yauger Road	Kenyon Rd	2021	1,011	0.94 mi
Eastern Star Road	New Gambier Rd	2021	3,927	0.98 mi
Upper Gilchrist Road	Colonial Woods Dr	2021	426	1.16 mi

Listing Broker

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