Listed by Urban Rock Properties Inc
$9,660,000
2100 McHenry Ave
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 25,200
Cap Rate 6%
NOI $579,600
Occupancy 100%
Tenancy Single
Brand/Tenant Pet Smart
Lease Type Absolute NNN
Lease Expiration 06/29/2041
Remaining Term 15.2
Price per SqFt $383
Year Built 1973
Acreage 2.290
Tenant Credit Corporate Guarantee
Rent Commencement 06/29/1993
Ground Lease No
Ownership Fee Simple
New 15-Year Lease Extension | PetsMart | Absolute Net Lease
Investment highlights
- Absolute-Net Lease | Zero Landlord Responsibilities Lease Structured On An Absolute-Nnn Basis; Tenant Responsible For All Expenses Including Roof, Structure And Real Estate Taxes.
- Corporate Guarantee By A Leading Pet-Retail Brand Tenant Petsmart - Operating 35+ Years In Location; U.S. National Leader In Pet Supplies, Services And Grooming
- Prime Retail Location In Modesto Situated At 2100 Mchenry Ave, Within A Most Densely Trafficked Regional Retail Corridor With ~40,000 Cars Per Day; Serves Strong Population Bases (Approx. 17,716 Within 1 Mile; 82,318 Within 2 Miles; 274,234 Within 5 Miles).
- Demographics & Household Affluence Average Household Income Within 2-Mile Ring Is Approx. $87,563; Within 5-Mile Ring Approx. $94,159, Supporting Quality Retail Demand.
- Long-Term Growth Potential Via Lease Escalations Lease Provides 10% Rent Increases Every Five Years 15+ Year Lease Term With Three 5-Year Extensions. Generation Contractual Growth Built Into The Income Stream.
- Retail Category With Resilience | Pet Car & Services The Pet-Care Industry Remains Resilient And Often Counter-Cyclical To Broader Retail Trends, Providing Defensive Characteristics For The Investment.
Listing Contacts
Listed by Urban Rock Properties Inc
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$579,600.00
$48,300.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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