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 2731 S. State Road in Ionia, Michigan. This single-tenant asset offers a long-term lease with a nationally recognized retailer and is strategically positioned within a growing 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.
Situated along S. State Road, this Petco location benefits from excellent visibility and accessibility, with traffic counts exceeding 17,000 vehicles per day. The site is adjacent to a Walmart Supercenter, creating a strong retail synergy and consistent consumer draw. The surrounding area has a population of over 39,000 within a 10-mile radius, providing a robust customer base for the tenant.
Ionia is a thriving city in Ionia County, serving as the county seat and principal city of the Ionia Micropolitan Statistical Area. The cities strategic location offers convenient access to major metropolitan areas. The city is approximately 34 miles from Grand Rapids and 42 miles from Lansing, 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 July 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 Meijer grocery center; benefits from significant cross-shopping traffic.
Excellent Visibility & Access – Frontage along S. State Road with over 13,000 VPD (vehicles per day).
Growing Trade Area – Over 39,000 residents within a 10-mile radius with steady population growth.
Healthy Local Economy – Ionia boasts a median household income of $60,413+.
1031 Exchange Ready – Well-suited for investors seeking a long-term, stable, income-generating asset.
Proximity to Major Metros – Just 34 miles from Grand Rapids and 42 miles from Lansing; 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 Location – Situated in a growing market with access to major transportation routes.
Strong Retail Synergy – Proximity to major retailers enhances traffic and consumer draw.
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