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Destination Pet

5821 Industrial Lane Southeast, Prior Lake, MN 55372

$1,745,600

Cap Rate 7.00%

Views: 10 DOM: 11 Updated: 02.12.25 Posted: 02.12.25 Status: Active 02.15.25

Summary

Price $1,745,600
Built/Renov 2005
Tenant Destination Pet
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 7,910
Lease Start 10-31-2019
#Units 150
Price/SF $220.68
Expiration 10-31-2039
Tenant Type Other
NOI $122,192
R. Term 14.8
Ownership Fee Simple
Rent/SF $15.45
Increases 2.5%/5/yrs
Pop 5Mi 72,266
Lot/AC 1.00
Options 4/50yrs/FMV
AHHI 5Mi $166,011

Keith Sturm
Upland Real Estate Group, Inc.
Contact

Amanda Leathers
Upland Real Estate Group, Inc.
Contact

Deb Vannelli
Upland Real Estate Group, Inc.
Contact

Lease Highlights

  • Destination Pet, operating as Paws and Pals, has a 14+ year NNN lease with 2.5% annual rent increases.
  • Located in a high-income area, with an average household income of $168,515 within 1 mile and a 72,266 5-mile population.
  • Destination Pet has 190+ locations across 35 states and is a reputable, proven leader in dog daycare operations.
  • Paws and Pals is a full-service pet resort offering daycare, boarding, grooming, and training, hosting over 5,000 dogs.
  • The U.S. pet daycare market is projected to reach $2.85 billion by 2030, highlighting significant industry growth potential.
  • Situated in Prior Lake, MN, near Mystic Lake Casino and several industrial employers, attracting strong daytime traffic to the area.

Location Description

Destination Pet, operating under the name Paws and Pals, is situated in Prior Lake, MN, a thriving community just southwest of the Twin Cities metropolitan area. The location boasts strong demographics, with an average household income of $168,515 within a 1-mile radius and a population of 72,266 within a 5-mile radius. The business is surrounded by various industrial tenants, including Meadow...

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Key Features

  • Build to suit

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Absolute NNN

  • Long 10+ yr lease

  • Annual rent increases

  • Corporate Guarantee

  • 100+ unit franchisee backed

    • ...

Links

Destination Pet Wikipedia Prior Lake, Minnesota Zip Code 55372 Broker Site Page

Documents

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Destination Pet is a national network of pet resorts and veterinary clinics dedicated to providing total pet wellbeing. Founded in 2017, the company operates over 190+ locations in 35 states....


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Listing Broker

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