PetSense for Sale! NNN Investment Offering

Retail-Commercial for Sale
Catylist Listing ID: 30507321
Property Subtypes: Free-Standing Building, Retail-Pad, Street Retail, Other
Building Size (RSF): 5,625 SF
Gross Building Area: See Agent
Gross Land Area: 27,922 SF
Sale Price: $1,100,000
Unit Price: $195.56 PSF
Ceiling: 15 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: PetSense
Sale Terms: Cash to Seller
Cap Rate: 7.16%
Last Updated: 10/11/2019

Overview / Comments

Own a part of the rapidly growing Pet Supply & Services Industry! PetSense is a corporately backed retail outlet store found in outlet malls and rural markets across the country. This NNN investment is in the 2nd year of 10 year primary lease that calls for a 10% rent increase in year 6, plus 10% increases in each of its two, 5 year option terms.

The 5,625 sf single tenant, free-standing store sits on 27,922 sf as an outparcel of the Lauren Parc Shopping Center in Abbeville, LA (just outside Lafayette, LA) and is next door to the Wal-Mart Supercenter, Lowes & Abbeville General Hospital. Other neighbors include AT& T, Dollar Tree, Anytime Fitness, Papa John’s, Affordable Home Furnishings, CVS & Applebee’s. Parking surrounds the building and exceeds code.

This NNN investment is perfect for a 1031 Tax Exchange. Call for more information.

Additional Details

Nearest MSA: Lafayette
County: Vermilion
Zoning: NO ZONING
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention, Other
Property Located Between: S. Airport Rd. & John M. Hardy Dr.
Property Visibility: Excellent
Largest Nearby Street: Hwy 14
Highway Access: Hwy 14, I-10, Hwy 167, Hwy 90
Site Description: Level, Improved
Area Description: Mixed retail, office, medical & residential
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,625 SF
Property Condition: Excellent
Year Built: 2017
Roof Type: Flat
Total Parking Spaces: 28
Parking Type: Surface
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Lot 2-C-1-B, SEC 30, Greensburg Land District, City of Abbeville, Third Ward of Vermillion Parish, State of Louisiana

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 13,807 24,105
Median Age: 35.07 35.81
Households: 5,243 9,164

Contact

Photograph of Listing Agent

Michael E Allain

KW Commercial 889-9898 Metairie, LA 70002
Not a member of MCAR
Photograph of Listing Agent

Bob R Fraiche

KW Commercial 889-9898 Metairie, LA 70002
Not a member of MCAR
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