PetSuites | Charlotte, NC
Absolute NNN Lease | Affluent Demographics | NVA Corporate Guaranty
Marketing description
Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale, the fee-simple interest in the single-tenant PetSuites property located at 219 Archdale Drive in Charlotte, North Carolina. PetSuites, operating under the National Veterinary Associates umbrella, has established itself as a premium pet care destination offering comprehensive boarding, daycare, grooming, and training services. The brand's commitment to exceptional pet care and state-of-the-art facilities has positioned it as a leader in the rapidly expanding pet services industry.
This investment offers an Absolute NNN lease structure with built-in rent increases of 3% every third year, providing investors with consistent, inflation-hedged income growth. The lease includes three five-year renewal options, offering long-term stability and potential for extended tenancy. It is secured by a corporate guaranty from National Veterinary Associates, which is majority owned by JAB Holdings Co (Krispy Kreme, Dr. Pepper Keurig, Peet's Coffee & Tea, Panera Brands, and more) whose assets under management exceed $50 billion.
The property is strategically positioned within Charlotte's thriving Steele Creek retail corridor, surrounded by major national retailers including Costco Wholesale, McDonald's, Ross Dress for Less, and The Whitehall Commons Shopping Center (Walmart, Lowe’s, Publix, Chick-fil-a). Located directly off the Interstate 77 and Nations Ford Road interchange with traffic counts exceeding 165,000 vehicles per day, the property ensures exceptional visibility and customer accessibility.
Charlotte ranks as the 3rd fastest growing city nationally, adding approximately 30,000 newcomers between July 2023 and July 2024. This explosive growth drives sustained demand for premium pet services, while the surrounding trade area's 202,479 residents boast an average household income of $149,976 - approximately 76% above the national median.
The investment benefits from North Carolina's business-friendly environment, featuring a 2.5% corporate income tax rate and no estate or inheritance taxes. Combined with the pet care industry's projected growth from $256 billion in 2024 to $476 billion by 2034, this property represents an exceptional opportunity in one of America's most dynamic metropolitan markets.
Investment highlights
ABSOLUTE TRIPLE NET LEASE WITH BUILT-IN GROWTH
The property is secured by an absolute triple net (NNN) lease featuring 3% rent increases every third year, providing investors with consistent, inflation-hedged income growth. The lease also includes three five-year renewal options, offering long-term stability and potential for extended tenancy.
AFFLUENT DEMOGRAPHICS
The surrounding trade area is home to 202,479 residents with an average household income of $149,976, approximately 76% above the national median, providing exceptional consumer purchasing power.
SURROUNDING RESIDENCES SUPPORT BUSINESS MODEL
With pet ownership on the rise, PetSuites is strategically positioned in the Montclaire South neighborhood, surrounded by apartment complexes and single-family homes whose residents spend upwards of $22.5 million annually on pets, toys, and hobbies within a 3-mile radius of the subject property.
EASY ACCESS & HIGH VISIBILITY
The Property’s 50-foot pylon sign ensures visibility to both sides of Interstate 77 as well as the Nations Ford Road Overpass, with exposure to over 325,000 vehicles per day.
NATIONAL VETERINARY ASSOCIATES CORPORATE LEASE GUARANTY
The lease is backed by a corporate guaranty from National Veterinary Associates, which is majority-owned by JAB Holdings Co. (Krispy Kreme, Dr. Pepper, Keurig, Peet's Coffee & Tea, Panera Brands, and more), whose assets under management exceed $50 billion.
INVESTMENT OPPORTUNITY IN RAPIDLY GROWING PET CARE INDUSTRY
The pet care market is expected to grow from $256 billion in 2024 to $476 billion by 2034, growing at a CAGR of 6.4% and significantly outpacing traditional retail sectors as pet owners increasingly prioritize premium care services for their animals.
CONVENIENTLY LOCATED AMID BUSTLING RETAIL CENTERS
The Property benefits from its strategic position within Charlotte's thriving Steele Creek retail corridor, surrounded by major national retailers including Costco Wholesale (1.0 miles), McDonald’s and Starbucks (1.1 miles), Ross Dress for Less (1.5 miles), and The Whitehall Commons Shopping Center, just 2.0 miles away (Walmart, Lowe’s, Publix, Chick-fil-a).
STRATEGIC SUBURBAN LOCATION WITH DOWNTOWN ACCESSIBILITY
The Property benefits from its proximity to downtown Charlotte’s major employment centers while maintaining suburban appeal, with an extremely large population in their late 20s to early 40s – the prime demographic for pet ownership and premium pet services.
CHARLOTTE RANKS #3 NATIONALLY FOR POPULATION GROWTH
Charlotte ranks as the 3rd fastest growing city nationally, trailing only San Antonio and Fort Worth, Texas, with approximately 30,000 newcomers between July 2023 and July 2024.
NORTH CAROLINA'S BUSINESS-FRIENDLY TAX ENVIRONMENT
North Carolina maintains one of the nation's most competitive business climates with a 2.5% corporate income tax rate and 4.5% flat individual income tax. The state imposes no estate or inheritance taxes, creating an attractive environment for real estate investors and business owners seeking tax-efficient markets for long-term wealth accumulation and operational cost savings.
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