Petco
STNL Petco | 6.00% Cap | Built-to-Suit
Marketing description
Embree Group is pleased to present an exceptional opportunity to acquire a brand-new, single-tenant Petco property located at 1630 Coshocton Avenue in Mount Vernon, Ohio. This 10,900 SF freestanding building was constructed in 2023 as a build-to-suit for Petco, a nationally recognized retailer in the thriving pet care industry. The asset is secured by a 15-year absolute NNN lease, offering long-term, passive income backed by a corporate guarantee.
Mount Vernon is the county seat of Knox County and a key hub in central Ohio, just 40 miles northeast of downtown Columbus. This location benefits from strong regional connectivity via State Route 229, State Route 661, and U.S. Route 36, offering access to major surrounding markets while maintaining small-town charm.
With a population of over 52,000 within a 10-mile radius, Mount Vernon offers a stable consumer base and growing demographics supported by healthcare, education, and light manufacturing. The immediate area is a dominant retail corridor anchored by Walmart Supercenter and surrounded by national brands, driving consistent daily traffic and visibility.
Petco Health & Wellness Company, Inc. is a category-leading, omnichannel pet retailer operating more than 1,500 stores across the U.S., Mexico, and Puerto Rico. Since its founding in 1965, Petco has evolved into a full-service pet wellness provider offering veterinary care, grooming, training, and a comprehensive range of pet products. The company’s IPO in 2021 underscores strong investor confidence in the resilient and expanding pet care market. This lease is backed by Petco corporate and includes 8.5% rental increases every five years, providing reliable income growth over the term.
Investment highlights
National Tenant – Leased to Petco Animal Supplies Stores, Inc., a leading pet retailer with 1,500+ locations.
Absolute NNN Lease – 15-year term with no landlord responsibilities.
Built-to-Suit in 2023 – Modern 10,900 SF building on 1.69 acres.
Strong Rent Growth – 8.5% increases every 5 years.
High-Traffic Location – Over 10,000 vehicles per day on Coshocton Ave.
Retail Corridor – Adjacent to Walmart Supercenter; surrounded by national retailers (ALDI, Subway, Staples, Bob Evans, Verizon).
Population – Over 50,000 residents within a 10-mile radius.
Average Household Income – Over $63, in a 3-Mile Radius.
Accessible Location – Situated along State Route 229; near SR 661 and SR 13.
Proximity to Columbus – Approximately 40 miles Northeast of Columbus, OH.
Recession-Resistant Industry – Pet care sector remains strong and growing.
Corporate Guarantee – Lease backed by Petco corporate.
Investment-Grade Alternative – Petco is a long-established national brand with robust market presence.
1031 Exchange Eligible – Ideal for investors seeking replacement property.
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