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Views: 121 DOM: 288 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 13.6
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

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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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 : 2,548 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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