Petco
STNL Petco | 15-Year Absolute NNN Lease
Marketing description
Embree Capital Markets Group is pleased to present a premier net lease investment opportunity: a newly constructed Petco store located at 2737 NC Hwy 210 E. in Surf City, North Carolina. This single-tenant asset offers a long-term lease with a nationally recognized retailer and is strategically positioned within a rapidly growing coastal market with proximity to major metropolitan areas.
The property is leased to Petco Animal Supplies Stores, Inc., a leading national pet specialty retailer. The absolute NNN lease structure ensures a passive investment with no landlord responsibilities, making it an ideal addition to any investment portfolio. This offering represents a rare opportunity to acquire a newly developed, zero-responsibility asset with a strong national tenant in a growing North Carolina market. The combination of a long-term lease, strategic location, and favorable demographics makes this property an ideal addition to any investment portfolio.
Situated along NC Hwy 210 E., this Petco location benefits from excellent visibility and accessibility, with traffic counts exceeding 14,000 vehicles per day. The site is adjacent to both Walmart and Publix, creating a strong retail synergy and consistent consumer draw. Surf City is a thriving coastal town located in Pender and Onslow Counties, situated on Topsail Island. As of 2023, Surf City's population is estimated at 4,781, reflecting significant growth over recent years. The town boasts a median household income of $84,833 and a median property value of $478,600. With a median age of 39.8, Surf City's demographic is balanced and contributes to a stable local economy.
Surf City's strategic location offers convenient access to major metropolitan areas. The town is approximately 27 miles from Wilmington, NC, and 24 miles from Jacksonville, NC, making it an attractive market for retailers seeking to serve both local and regional customers.
Investment highlights
Corporate Lease with Petco – Backed by Petco Animal Supplies Stores, Inc., a leading national pet retailer with over 1,500 locations across the U.S.
Brand-New 2023 Construction – Delivered to tenant in April 2023; high-quality build with modern design.
Absolute NNN Lease – Zero landlord responsibilities – ideal for passive investors.
Long-Term Stability – 15-year base lease with 8.5% rent escalations every 5 years.
Strong Co-Tenancy – Located adjacent to Walmart and Publix; benefits from significant cross-shopping traffic.
Excellent Visibility & Access – Frontage along NC Hwy 210 & Ronald Ave with over 26,000 VPD (vehicles per day).
Growing Trade Area – Over 37,000 residents within a 10-mile radius with steady population growth.
Healthy Local Economy – Surf City boasts a median household income of $85,000+.
1031 Exchange Ready – Well-suited for investors seeking a long-term, stable, income-generating asset.
Proximity to Major Metros – Just 27 miles from Wilmington, NC, and 24 miles from Jacksonville, NC; strong regional connectivity.
Resilient Tenant Category – Pet retail has proven to be a recession-resistant and growing retail segment.
Investment-Grade Alternative – Petco is a long-established national brand with robust market presence.
Strategic Coastal Location – Situated on Topsail Island, a popular destination known for its beaches and tourism.
High-Quality Construction – Built-to-suit for Petco with modern design and specifications.
Strong Retail Synergy – Proximity to major retailers enhances foot traffic and consumer draw.
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