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Views: 59 DOM: 86 Updated: 10.16.24 Posted: 08.21.24 Status: Active

Summary

Price $5,316,000
Built/Renov 1994/1995
Tenant PetSmart
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 25,464
Lease Start 08-01-1994
#Units 1,660
Price/SF $208.77
Expiration 08-31-2032
Tenant Type General Retail
NOI $318,971
R. Term 7.9
Ownership Fee Simple
Rent/SF $12.53
Increases 7.5%/5/yrs
Pop 5Mi 241,287
Lot/AC 2.70
Options 4/5yrs/7.5%
AHHI 5Mi $101,254

Lease Highlights

  • PetSmart has successfully operated at this location for 30 years and has 7+ years remaining with 4 (5-year) options to extend
  • The lease features 7.5% rental increases at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

PetSmart is strategically located on US Highway 17, with access to 66,000 vehicles passing by daily. The property is part of a larger development featuring Target, Taco Bell, Steak ‘n Shake, and other notable tenants. Nearby educational institutions include Lake Orienta Elementary School, English Estates Elementary School, and Milwee Middle School. The 5-mile trade area supports a population...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: PetSmart
  • Guarantor:Corp Rated
  • Company:BC Partners
  • # Units:1,660
  • Tenant S&P: B+
  • Moody’s: B1
  • Stock:Private

About Tenant

PetSmart Inc. is the largest pet supply company (by store count) in North America, operating a chain of pet superstores and an e-commerce platform. PetSmart offers more pet services and products...


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Listing Broker

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