Petco

80 Reese Way, Mount Sterling, KY 40353

$4,412,000

Cap Rate 6.25%

Views: 105 DOM: 322 Updated: 10.25.24 Posted: 02.09.24 Status: Active

Summary

Price $4,412,000	Built/Renov 2023	Tenant Petco
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,900	Lease Start 01-25-2023	#Units 1,423
Price/SF $404.77	Expiration 01-31-2038	Tenant Type General Retail
NOI $275,738	R. Term 13.1	Ownership Fee Simple
Rent/SF $25.30	Increases 8.5%/4/yrs	Pop 5Mi 18,571
Lot/AC 2.05	Options 5/5yrs/8.5%	AHHI 5Mi $61,625

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
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Petco is strategically located on Reese Way, with access to 16,078 vehicles passing by daily. The property is surrounded by prominent national tenants such as Lowe's, Subway, Walmart, Dollar Tree, and more. Additionally, the area is enhanced by various car dealerships including Ford, Jeep, Ram, Dodge and Chrysler. The 5-mile trade area is supported by a population of 18,571 with an average...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Major MSA
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Over 1000 units backed

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Links

Petco Wikipedia Petco Wikipedia Mount Sterling, Kentucky Zip Code 40353 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 :	4,356	14,891	18,988
2023 Total Population :	4,332	14,769	18,887
2023 Employed Civilian Pop :	1,964	6,126	8,077
2023 Total Businesses :	391	796	859
2023 Average Household Income :	$ 66,060	$ 64,028	$ 66,310
2023 Total Consumer Spending :	$ 105 M	$ 340 M	$ 441 M
2023 Median Age :	40	41	41
2023 Total Households :	1,816	6,051	7,598
2023 Pop Age 25+: Bachelor's Degree :	425	1,156	1,548
2023 Average Home Value :	$ 198,465	$ 206,036	$ 209,129

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Indian Mound Drive	Chenault Ln	2022	14,081	0.12 mi
Alexa Drive	Twinbrook Ct	2018	844	0.15 mi
Cr-1309A	Twinbrook Ct	2014	1,351	0.19 mi
Cr-1309A	Hawkins Dr	2014	1,351	0.24 mi
Indian Mound Dr	Commonwealth Way	2011	16,100	0.24 mi
Alexa Drive	Hawkins Dr	2018	1,136	0.28 mi
WINN ST		2021	1,243	0.38 mi
Maysville Rd	Cardinal Ln	2002	13,576	0.41 mi
Chenault Drive	Sterling Ave	2018	1,342	0.41 mi
Chenault Dr	Sterling Ave	2014	207	0.41 mi

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