Petco

3108 U.S. 281, Marble Falls, TX 78654

$5,730,000

Cap Rate 5.75%

Views: 101 DOM: 198 Updated: 10.25.24 Posted: 05.01.24 Status: Active

Summary

Price $5,730,000	Built/Renov 2024	Tenant Petco
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,900	Lease Start 04-17-2024	#Units 1,423
Price/SF $525.69	Expiration 04-30-2039	Tenant Type General Retail
NOI $329,475	R. Term 14.5	Ownership Fee Simple
Rent/SF $29.83	Increases 8.5%/5/yrs	Pop 5Mi 13,571
Lot/AC 2.95	Options 5/5yrs/8.5%	AHHI 5Mi $69,562

Klinton Lewis

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Lease Highlights

Brand new 2024 construction
Petco recently executed a brand new 15-year lease 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 North Highway 281, with access to 24,298 vehicles passing by daily. The property is surrounded by well-known national tenants including Lowe's, Walmart, Kwik Kar, Ford, AT&T, Domino’s, and more. The 5-mile trade area is supported by a population of 13,571 residents with an average household income of $69,562. Marble Falls is a city in Burnet County, Texas. As...

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Key Features

New construction
Dense retail corridor
Near major nationals
Highway location
Income tax free state
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee

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Links

Petco Wikipedia Petco Wikipedia Marble Falls, Texas Zip Code 78654 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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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US Hwy 281	Creek 424	2010	14,100	0.06 mi
	Creek 424	2022	18,897	0.46 mi
	Hwy 281	2022	13,875	1.24 mi
	Hwy 71	2022	7,490	1.26 mi
East Ranch Road 2147	Hwy 281	2022	894	1.35 mi
Shovel Mountain	SE Ranch Rd	2010	210	1.39 mi
	Hwy 71	2022	12,487	1.90 mi
FM 2147	Rocky Rd	2007	11,157	1.91 mi
US Hwy 281	Max Starcke Dam Rd	2007	17,013	2.30 mi
Max Starcke Dam Rd	Steve Hawkins Pkwy	2010	880	2.33 mi

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