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DOM: 205 Updated: 06.14.24 Posted: 11.22.23 Status: Sold 06.14.24

Summary

Price $7,000,000 $7,594,000
Built/Renov 2020
Tenant Pet Paradise
Cap Rate 7.43% 6.85%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 19,529
Lease Start 01-01-2022
#Units 50
Price/SF $358.44 $388.86
Expiration 12-31-2041
Tenant Type Other
NOI $520,200
R. Term 16.8
Ownership Fee Simple
Rent/SF $26.64
Increases 2.0%/1/yrs
Pop 5Mi 77,568
Lot/AC 4.43
Options 4/5yrs/2%
AHHI 5Mi $123,943

Lease Highlights

  • Pet Paradise has 18 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features increases of 2% or 1.25 times the price index annually
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Pet Paradise is strategically located just off the I-35 Freeway, with access to 97,700 vehicles passing by daily. The property benefits from limited competition in the immediate trade area. Notably, it is shadow anchored by Walmart and The Home Depot, and is conveniently located down the street from Wolf Ranch Town Center. Furthermore, the property is adjacent to The Summit at Rivery Park,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Pet Paradise
  • Guarantor:Corporate
  • Company:American Pet Resort Holdings LLC
  • # Units:50
  • Stock:Private

About Tenant

Pet Paradise Resort and Day Spa is a comprehensive provider of complete pet health care and offers a full-service resort for pets, and offers dog/ cat overnight boarding, professional grooming,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,016 50,175 104,335
2023 Total Population : 5,663 42,040 87,407
2023 Employed Civilian Pop : 2,816 19,741 40,791
2023 Total Businesses : 699 2,021 2,634
2023 Average Household Income : $ 149,246 $ 119,737 $ 128,652
2023 Total Consumer Spending : $ 314 M $ 1714 M $ 3743 M
2023 Median Age : 41 37 39
2023 Total Households : 2,457 16,661 33,980
2023 Pop Age 25+: Bachelor's Degree : 1,342 7,517 17,131
2023 Average Home Value : $ 527,966 $ 467,958 $ 468,090
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Interstate 35 W Morrow St 2021 25,652 0.36 mi
I 35 San Gabriel Village Blvd 2021 86,744 0.38 mi
TX 121 Williams Dr 2020 111,125 0.38 mi
Martin Luther King St W 3rd St 2015 649 0.53 mi
Martin Luther King St W 4th St 2010 560 0.54 mi
W 8th St Rucker St 2015 366 0.57 mi
W 8th St Rucker St 2010 250 0.57 mi
N Austin Ave S Austin Ave 2013 16,100 0.66 mi
N Austin Ave San Gabriel Village Blvd 2015 15,272 0.67 mi
N Austin Ave San Gabriel Village Blvd 2005 19,700 0.67 mi

Listing Broker

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