Listed by Atlantic Capital Partners
$1,913,400
Banfield Pet Hospital | Secaucus, NJ
Details
Property Type Retail
Sub Type Storefront, Veterinary
Square Footage 4,370
Cap Rate 6%
NOI $114,796
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 16.1
Lease Expiration 12/31/2035
Remaining Term 9.6
Rent Bumps Yes
Lease Options 3 x 5-year options
Year Renovated 2011
Acreage 0.230
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/05/2019
Ground Lease No
6% CAP | INFILL LOCATION | CORPORATE CREDIT
Investment highlights
CORPORATE CREDIT – MARS, INC. BACKED
- Banfield operates as a wholly owned subsidiary of Mars, Incorporated ($50B+ revenue), providing institutional-grade credit and eliminating single-operator risk.
DENSE NYC INFILL LOCATION
- 1.26M+ people and $199K+ AHHI within 5 miles, with strong employment density and limited new retail supply.
LONG-TERM LEASE WITH 3% ANNUAL GROWTH
- Over 9 years of remaining term with 3% annual rent increases, creating a durable and compounding income stream.
RECESSION-RESISTANT, NEEDS-BASED USE
- Veterinary care is non-discretionary, supported by rising pet ownership and sustained growth in pet healthcare spending.
LOW BASIS, PRIVATE CAPITAL-FRIENDLY INVESTMENT
- Attractive price point and low basis appeals to investors seeking passive income with credit tenancy in a high-barrier market.
REGIONAL RETAIL HUB WITH OUTSIZED CONSUMER DRAW
- $1.59B in retail sales driven by commuter traffic and proximity to major regional demand drivers.
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$114,796.00
$9,566.33/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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