Dogtopia - San Antonio, TX
Single-Tenant Dogtopia | Dense Retail Corridor in San Antonio | NN+ Lease | 2.50% Annual Rent Growth
Marketing description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in a Dogtopia pet care facility located at 3814 Broadway, San Antonio, TX 78209 (the "Property" or "Asset"). Dogtopia (the "Tenant") executed a 10-year lease in February 2021 with ±6.6 years remaining, 2.50% annual rental escalations, and minimal landlord responsibilities.
Comprising 7,128 rentable square feet, the Property serves as a strategic location for Dogtopia’s mission to deliver comprehensive pet care services in the central San Antonio market. Founded in 2002, Dogtopia is a premier provider of canine services within a leading national franchise system. Dogtopia’s significant growth and operational success are validated by numerous industry awards, including being named the #1 pet franchise by Entrepreneur Magazine for six consecutive years. The company operates nearly 300 locations across North America and has a strategic growth plan to reach 400 units by 2027.
The Asset is positioned along Broadway with visibility to over 29,000 vehicles per day in a dense retail corridor featuring national retailers including Chipotle, CVS Pharmacy, IHOP, Texaco, Whataburger, Potbelly, Starbucks, etc. The trade area is highly affluent, with an average household income of nearly $140,000 within a 1-mile radius and a population exceeding 295,000 within five miles.
This offering presents investors with a compelling opportunity to acquire a pet care asset in one of Texas’ largest and fastest-growing metropolitan areas. The Property delivers secure cash flow through the remainder of the term with attractive 2.50% annual rent escalations, minimal landlord obligations, and two, 5-year renewal options.
Investment highlights
- Lease is structured with very minimal landlord responsibilities and 2.50% annual escalations
- Recent 2022 tenant build-out enhances property value and reduces future capital expenditures
- Dogtopia is an award-winning franchise offering open-play dog daycare, boarding, and spa services
- Strong, affluent demographics with over 295,000+ residents within a 5-mile radius and an average household income of $138,000 in a 1-mile radius
- Located in the high-growth San Antonio, TX MSA with notable landmarks nearby, including the San Antonio Zoo, Witte Museum, University of the Incarnate World, and more
- Located near notable retailers such as IHOP, Chipotle, Swig, Texaco, etc.
- On highly trafficked Broadway with direct visibility to 29,000+ VPD
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