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Single-Tenant Office Medical

Pet Paradise - Charlotte

9873 Harrisburg Rd, Indian Land, SC 29707

Listing Price: $5,508,331

Cap Rate
6.35%
Tenant Name
Pet Paradise
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
17,281
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.24

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Indian Land, South Carolina. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location houses one of its larger facilities, and features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned right off of the US-521 and is across the street from a 600k+ square foot office development. Charlotte has consistently been one of the fastest growing markets in the United States. This offering presents the rare opportunity to acquire a stabilized veterinary asset with a completely passive ownership structure for almost 20 years and outstanding security in the value of the underlying real estate.

Investment Highlights

  • The Asset is subject to an ideal absolute triple-net lease with just under 20 years remaining and up to 2.0% annual increases.
  • Strategic suburban location, with almost 27% of household entertainment spending allotted towards pets and other related hobbies.
  • The Asset is well located in a growing suburban Charlotte area and has limited full service competition within the immediate trade area.
  • The Asset is mission critical to the tenant's business, and offers essential services like veterinary services.
  • The Greater Charlotte Metropolitan Area is one of the fastest growing markets in the country.
  • Affluent area with a median income well over $100,000.
  • The surrounding area continues to see substantial residential and commercial expansion. Within a three mile radius, there is over 5.2 million SF of office, industrial, and retail space with only a 5% vacancy factor. 1.2 million SF has been developed in the past four years.
  • Brand new construction (2019 build).

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Single-Tenant Office Medical

Pet Paradise - Charlotte

Listing Price: $5,508,331

Cap Rate
6.35%
Tenant Name
Pet Paradise
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
17,281
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.24

Investment Highlights

  • The Asset is subject to an ideal absolute triple-net lease with just under 20 years remaining and up to 2.0% annual increases.
  • Strategic suburban location, with almost 27% of household entertainment spending allotted towards pets and other related hobbies.
  • The Asset is well located in a growing suburban Charlotte area and has limited full service competition within the immediate trade area.
  • The Asset is mission critical to the tenant's business, and offers essential services like veterinary services.
  • The Greater Charlotte Metropolitan Area is one of the fastest growing markets in the country.
  • Affluent area with a median income well over $100,000.
  • The surrounding area continues to see substantial residential and commercial expansion. Within a three mile radius, there is over 5.2 million SF of office, industrial, and retail space with only a 5% vacancy factor. 1.2 million SF has been developed in the past four years.
  • Brand new construction (2019 build).

Investment Overview

We are pleased to offer for sale the fee simple interest in a freestanding, single-tenant full service pet resort and veterinary clinic containing Pet Paradise (the “Property” or “Asset”) located in Indian Land, South Carolina. Pet Paradise is a leader in pet industry, with interests in multiple business lines, including grooming, boarding and vet services. This location houses one of its larger facilities, and features a long term lease with an absolute triple net structure, with up to 2.0% increases annually over the term. The Property is positioned right off of the US-521 and is across the street from a 600k+ square foot office development. Charlotte has consistently been one of the fastest growing markets in the United States. This offering presents the rare opportunity to acquire a stabilized veterinary asset with a completely passive ownership structure for almost 20 years and outstanding security in the value of the underlying real estate.

Exclusively Listed By

  • Peter Bauman

    Senior Vice President Investments

    (602) 687-6685

    Email Peter

    License(s): AZ: SA647389000, NV: S.0186153

    Phoenix

  • Tivon Moffitt

    Senior Vice President Investments

    (602) 687-6688

    Email Tivon

    License(s): AZ: BR639369000, NV: S.0186027, UT: 11178542-AB00

    Phoenix

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

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