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Miscellaneous

Rare Absolute Net PetSmart

4465 US-14, Crystal Lake, IL 60014

Listing Price: $4,269,334

Cap Rate
6.25%
Tenant Name
PetSmart
Years Remaining On Lease
11.4
Guarantor
Corporate Guarantee
Rentable SF
26,289
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.15

Investment Overview

Marcus & Millichap is pleased to present PetSmart located in Crystal Lake, Illinois. PetSmart is a national tenant and the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The location features a Banfield Pet Hospital, driving additional foot traffic into the store. There is over 11 years remaining on a corporately guaranteed rare triple-net lease with seven percent rent bump after the first two and a half years, and then a seven and a half percent rent bump every five years after that. There are five, five-year option periods with rental increases. No landlord responsibility – very rare for PetSmart leases. Ideally positioned on a signalized, hard-corner intersection of Northwest Highway and Illinois Route 31 | 64,175 total vehicles passing per day. Attractive real estate, adjacent to the Home Depot with access from Route 31, Northwest Highway and Sands Road. There are four points of ingress/egress. Situated along a major east-west thoroughfare, directly off Route 31. Notable major retailers in the area include Target, Walmart, Walgreens, Aldi, Ace Hardware, T.J. Maxx, Ross Dress For Less, Ulta, Hobby Lobby, Burlington, Petland, Menards and much more. Dense, affluent demographics with the average household income is $124,419 within one mile and $128,734 within five miles. The population within five miles is 126,268 and within three miles the daytime population is 52,481 and 109,480 within five miles. In 2020, the pet industry reached a milestone with total sales of $103.6 billion, a historic high | 6.7 percent increase from previous year. The forecast predicts the global pet care market will reach $358.62 billion by 2027.

Investment Highlights

  • National Tenant | PetSmart
  • Over 11 Years Remaining on a Corporately Guaranteed Rare Triple-Net Lease
  • Ideally Positioned on a Signalized, Hard-Corner Intersection of Northwest Highway and Illinois Route 31 | 64,175 Total Vehicles Passing per Day
  • Attractive Real Estate | Adjacent to The Home Depot | Access from Route 31, Northwest Highway and Sands Road | Four Points of Ingress/Egress
  • Situated Along a Major East-West Thoroughfare, Directly Off Route 31
  • Dense, Affluent Demographics
  • In 2020, The Pet Industry Reached a Milestone with Total Sales of $103.6 Billion, a Historic High | 6.7 Percent Increase from Previous Year

Exclusively Listed By

Miscellaneous

Rare Absolute Net PetSmart

Listing Price: $4,269,334

Cap Rate
6.25%
Tenant Name
PetSmart
Years Remaining On Lease
11.4
Guarantor
Corporate Guarantee
Rentable SF
26,289
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.15

Investment Highlights

  • National Tenant | PetSmart
  • Over 11 Years Remaining on a Corporately Guaranteed Rare Triple-Net Lease
  • Ideally Positioned on a Signalized, Hard-Corner Intersection of Northwest Highway and Illinois Route 31 | 64,175 Total Vehicles Passing per Day
  • Attractive Real Estate | Adjacent to The Home Depot | Access from Route 31, Northwest Highway and Sands Road | Four Points of Ingress/Egress
  • Situated Along a Major East-West Thoroughfare, Directly Off Route 31
  • Dense, Affluent Demographics
  • In 2020, The Pet Industry Reached a Milestone with Total Sales of $103.6 Billion, a Historic High | 6.7 Percent Increase from Previous Year

Investment Overview

Marcus & Millichap is pleased to present PetSmart located in Crystal Lake, Illinois. PetSmart is a national tenant and the largest specialty pet retailer of services and solutions for the lifetime needs of pets. The location features a Banfield Pet Hospital, driving additional foot traffic into the store. There is over 11 years remaining on a corporately guaranteed rare triple-net lease with seven percent rent bump after the first two and a half years, and then a seven and a half percent rent bump every five years after that. There are five, five-year option periods with rental increases. No landlord responsibility – very rare for PetSmart leases. Ideally positioned on a signalized, hard-corner intersection of Northwest Highway and Illinois Route 31 | 64,175 total vehicles passing per day. Attractive real estate, adjacent to the Home Depot with access from Route 31, Northwest Highway and Sands Road. There are four points of ingress/egress. Situated along a major east-west thoroughfare, directly off Route 31. Notable major retailers in the area include Target, Walmart, Walgreens, Aldi, Ace Hardware, T.J. Maxx, Ross Dress For Less, Ulta, Hobby Lobby, Burlington, Petland, Menards and much more. Dense, affluent demographics with the average household income is $124,419 within one mile and $128,734 within five miles. The population within five miles is 126,268 and within three miles the daytime population is 52,481 and 109,480 within five miles. In 2020, the pet industry reached a milestone with total sales of $103.6 billion, a historic high | 6.7 percent increase from previous year. The forecast predicts the global pet care market will reach $358.62 billion by 2027.

Exclusively Listed By

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