Listed by Landmark Commercial Real Estate Services
$2,366,227
Pet Supplies Plus
Details
Property Type Retail
Sub Type Storefront
Square Footage 8,963
Units 1
Cap Rate 7.5%
NOI $177,467
Occupancy 100%
Tenancy Single
Brand/Tenant Pet Supplies Plus
Lease Type NNN
Lease Term 10
Lease Expiration 03/31/2032
Remaining Term 5.7
Lease Options Two (2), Five (5)-Year Options with Increases
Price per SqFt $264
Year Built 1994
Year Renovated 2022
Buildings 1
Stories 1
Acreage 1.330
Investment Type Net Lease
Lease Commencement 04/01/2022
STNL pad site to Grand Traverse Mall (290K SF)
Marketing description
Landmark Investment Sales is pleased to offer the opportunity to acquire a Pet Supplies Plus outlot located along Traverse City’s premier retail corridor on Airport Road. The property is positioned as an outlot to Grand Traverse Mall and is surrounded by dominant national retailers including Target, Lowe's, Walmart, and Home Depot. Pet Supplies Plus reports unit-level sales at this location that significantly exceed brand averages, highlighting the strength of the site and trade area. The lease features below-market rent at $18.00 PSF, offering investors strong in-place income with future rental upside.
Investment highlights
- Excellent Location Within Traverse City’s Premier Retail Corridor
- High Reported Unit-Level Store Sales - Contact Broker
- Pet Supplies Plus – Proven National Brand / High Reported Sales
- Below Market Rent
- Traverse City – High-Growth, Tourism-Driven Market
- Limited Landlord Responsibilities
Listing Contacts
Listed by Landmark Commercial Real Estate Services
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$177,467.00
$14,788.92/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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