PetSuites

6136 South Memorial Drive, Tulsa, OK 74133

$4,907,000

Cap Rate 6.00%

Views: 134 DOM: 259 Updated: 09.05.24 Posted: 04.13.24 Status: Active

Summary

Price $4,907,000	Built/Renov 2024	Tenant PetSuites
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 10,972	Lease Start 07-01-2024	#Units 60
Price/SF $447.23	Expiration 06-30-2044	Tenant Type General Retail
NOI $294,415	R. Term 19.6	Ownership Fee Simple
Rent/SF $26.83	Increases 10.0%/5/yrs	Pop 5Mi 261,946
Lot/AC 1.15	Options 5/5yrs/10%	AHHI 5Mi $91,819

Lease Highlights

Brand new 2024 construction
PetSuites will be executing a brand new 20-year lease with 5 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

PetSuites is strategically located at the signalized, hard corner intersection of 61st St & Memorial Dr, with access to a robust combined daily traffic count of 80,940 vehicles. The property is directly across the street from Manchester Square, a shopping center anchored by T.J. Maxx, and within walking distance of an ALDI-anchored shopping center, a Walmart Supercenter-anchored shopping...

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Key Features

New construction
Build to suit
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

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Links

PetSuites Wikipedia Tulsa, Oklahoma Zip Code 74129 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: PetSuites
Guarantor:Corporate
Company:National Veterinary Associates
# Units:60
Stock:Private

About Tenant

Founded in 2000, Petsuites specializes in providing animal services for both cats and dogs. The company operates as a pet resort and spa. Petsuites offers exclusive care including a daily log of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	12,237	91,179	265,704
2023 Total Population :	12,123	90,109	261,946
2023 Employed Civilian Pop :	6,122	48,111	136,058
2023 Total Businesses :	780	7,226	14,373
2023 Average Household Income :	$ 80,555	$ 86,867	$ 91,819
2023 Total Consumer Spending :	$ 377 M	$ 3022 M	$ 8690 M
2023 Median Age :	44	39	38
2023 Total Households :	5,402	40,085	109,448
2023 Pop Age 25+: Bachelor's Degree :	2,224	17,192	47,518
2023 Average Home Value :	$ 216,907	$ 247,219	$ 274,147

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S 81st E Ave	E 63rd St	2017	34,200	0.04 mi
	S 80th East Ave	2021	1,300	0.19 mi
E 61st St	S 86th East Ave	2017	31,100	0.22 mi
E 61st St	E 101th St	2017	32,400	0.22 mi
East 61st Street South		2019	20,950	0.37 mi
S 81st E Ave	E 58th Pl	2017	34,800	0.38 mi
	E 59th St	2021	450	0.40 mi
E 61st St	S 74th East Ave	2015	20,950	0.44 mi
	S 81st East Pl	2021	1,600	0.45 mi
	E 66th St	2021	20,700	0.49 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
31157 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
32340 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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