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33457551
33457554

3814 BROADWAY, SAN ANTONIO, TX 78209-6310

KH
TX TX 755222
JLL Austin
NT
GA 428496
Listed by JLL Austin
$2,648,000
2 days on market
Updated 2 days ago

Dogtopia - San Antonio, TX

Details
APN 140197
Property Type Retail
Sub Type Day Care/Nursery, Pet (+1)
Square Footage 7,128
Cap Rate 7.25%
NOI $191,957
Occupancy 100%
Tenancy Single
Lease Type NN+
Lease Term 10
Lease Expiration 01/31/2033
Remaining Term 6.6
Rent Bumps Yes
Lease Options 2 x 5 Year Options at FMV
Price per SqFt $371
Year Built 1960
Year Renovated 2022
Stories 1
Acreage 0.330
Parking Spaces 25 spaces
Parking Per SqFt 3.51
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 02/01/2023
Ground Lease No
Sale Condition N/A

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

Listing Contacts

KH
TX TX 755222
JLL Austin
NT
GA 428496
Listed by JLL Austin

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$191,957.00
$15,996.42/mo

Valuation Metrics

0
DSCR
7.25%
Cap Rate
7.25%
ROI

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Additional Information

Name
Doug Opalka
License
493181
Title
Broker of Record
Name
Kirby Hayes
License
TX 755222
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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