Petco

160 U.S. 158 Bypass, Henderson, NC 27537

$5,825,000

Cap Rate 6.00%

DOM: 446 Updated: 10.25.24 Posted: 02.08.24 Status: Active

Summary

Price $5,825,000	Built/Renov 2023	Tenant Petco
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 15,900	Lease Start 03-03-2023	#Units 1,423
Price/SF $366.35	Expiration 03-31-2038	Tenant Type General Retail
NOI $349,413	R. Term 12.11	Ownership Fee Simple
Rent/SF $21.98	Increases 8.5%/5/yrs	Pop 5Mi 25,935
Lot/AC 1.67	Options 5/5yrs/8.5%	AHHI 5Mi $53,981

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 throughout the initial term and each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Petco is strategically located along US 158 Bypass, with access to 22,757 vehicles passing by daily. The vicinity boasts prominent national tenants such as Walmart, ALDI, Shell, Taco Bell, Tractor Supply Co, and more. Additionally, nearby, there are several car dealerships featuring Chevrolet, Ford, GMC, and others. The 5-mile trade area is supported by a population of 25,935 with an average...

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Key Features

New construction
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Over 1000 units backed

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Links

Petco Wikipedia Petco Wikipedia Henderson, North Carolina Zip Code 27536 Broker Site Page

Maps

Local Information

1 Mile
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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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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Dabney Drive	Hwy 158 Byp	2019	4,700	0.04 mi
Ruin Creek Road	Gwynn Ln	2018	2,800	0.05 mi
Red Oak Rd	Ruin Creek Rd	2000	500	0.14 mi
SR 1303	Allen Rd	2020	5,200	0.22 mi
Dabney Drive	N Cooper Dr	2018	12,500	0.25 mi
US Hwy 158 Byp	Dabney Dr	2018	8,800	0.26 mi
	Ruin Creek Rd	2021	8,500	0.29 mi
US 158 BYP	Dabney Dr	2020	7,900	0.30 mi
	Medical Center Dr	2021	4,500	0.33 mi
Ross Mill Rd	Industry Dr	2004	5,300	0.37 mi

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