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Views: 81 DOM: 205 Updated: 09.06.24 Posted: 05.03.24 Status: Active

Summary

Price $478,452
Built/Renov 2000
Tenant Blue River PetCare
Cap Rate 7.75%
Lease Type NN+
Guarantor Corp Traded
Size/SF 2,200
Lease Start 11-07-2022
#Units 168
Price/SF $217.48
Expiration 11-06-2027
Tenant Type Medical/Health
NOI $37,080
R. Term 2.11
Ownership Fee Simple
Rent/SF $16.85
Increases 2.0%/1/yrs
Pop 5Mi 6,749
Lot/AC 2.82
Options 3/5yrs/2%
AHHI 5Mi $58,808

Lease Highlights

  • Blue River PetCare has 3+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Blue River PetCare is strategically located on M-18, surrounded by well-known national tenants including Ace Hardware, Dollar Tree, Taco Bell, Save A Lot, and more. The property is in close proximity to several community educational institutions such as Gladwin High School, Gladwin Elementary & Intermediate School, Gladwin Elementary, and more. The 5-mile trade area is supported by a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Blue River PetCare
  • Guarantor:Corp Traded
  • Company:Partners Group Holding AG
  • # Units:168
  • Stock:SIX: PGHN

About Tenant

Blue River PetCare is a distinguished veterinary operator company that provides specialized support and resources to veterinary practices nationwide. With a steadfast commitment to excellence in...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 368 5,024 7,447
2023 Total Population : 367 5,070 7,518
2023 Employed Civilian Pop : 124 1,868 2,794
2023 Total Businesses : 16 394 430
2023 Average Household Income : $ 68,496 $ 71,883 $ 73,065
2023 Total Consumer Spending : $ 7 M $ 133 M $ 199 M
2023 Median Age : 42 44 45
2023 Total Households : 119 2,079 3,062
2023 Pop Age 25+: Bachelor's Degree : 13 255 426
2023 Average Home Value : $ 132,278 $ 172,780 $ 184,403
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Youngs Rd 2022 5,045 0.52 mi
N Silverleaf St W Maple St 2015 6,200 1.64 mi
North Silverleaf Street E Cedar Ave 2022 5,668 1.72 mi
West Cedar Avenue N Silverleaf St 2022 10,702 1.74 mi
W Cedar Ave S Antler St 2015 11,900 1.74 mi
Wagerville Road Klamer Rd 2022 421 1.76 mi
East Cedar Avenue Industrial Dr 2022 9,071 1.78 mi
East Cedar Avenue Buckeye St 2022 9,329 1.80 mi
M-61 S Hawkins Rd 2022 6,419 1.90 mi
M-61 McCulloch Rd 2022 6,818 2.04 mi

Listing Broker

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