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Single-Tenant Office Medical

Pet Paradise - Greenville

615 Congaree Rd, Greenville, SC 29607

Listing Price: $6,406,047

Cap Rate
6.35%
Tenant Name
Pet Paradise
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
13,298
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$30.59

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 Greenville, 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 newer 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 Interstate-385 exit ramp and is down the street from the Haywood Mall. There are over 25,000 households within 3 miles of the asset. Greenville is a fast growing, highly desirable sunbelt market. 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

  • Robust commercial corridor with 30 million SF of office, retail and industrial assets within 3 miles and only a 7.5% vacancy rate providing a large customer labor pool for tenant.
  • The Asset is well located in the Greenville market 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.
  • Greenville is a fast growing, sunbelt market.
  • New Construction (2018 build).
  • The Asset is subject to an ideal absolute triple-net lease with just under 20 years remaining and 2.0% annual increases, allowing for a completely passive investment structure with income appreciation
  • Strategic suburban location, with almost 28% of household entertainment spending allotted towards pets and other related hobbies.
  • I-385 frontage.

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 - Greenville

Listing Price: $6,406,047

Cap Rate
6.35%
Tenant Name
Pet Paradise
Years Remaining On Lease
19.5
Guarantor
Corporate Guarantee
Rentable SF
13,298
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$30.59

Investment Highlights

  • Robust commercial corridor with 30 million SF of office, retail and industrial assets within 3 miles and only a 7.5% vacancy rate providing a large customer labor pool for tenant.
  • The Asset is well located in the Greenville market 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.
  • Greenville is a fast growing, sunbelt market.
  • New Construction (2018 build).
  • The Asset is subject to an ideal absolute triple-net lease with just under 20 years remaining and 2.0% annual increases, allowing for a completely passive investment structure with income appreciation
  • Strategic suburban location, with almost 28% of household entertainment spending allotted towards pets and other related hobbies.
  • I-385 frontage.

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 Greenville, 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 newer 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 Interstate-385 exit ramp and is down the street from the Haywood Mall. There are over 25,000 households within 3 miles of the asset. Greenville is a fast growing, highly desirable sunbelt market. 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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