Petco | 2731 S State Rd
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Petco 2731 S State Rd
10,900 SF Retail Building Ionia, MI 48846 $6,656,439 CAD ($611 CAD/SF) 6.25% Cap Rate
Investment Highlights
- 2023 Build-To-Suit
- Corporate Guaranty
- 13,000+ Daily Traffic Counts
- New 15-Year Absolute NNN Lease
- 8.50% Increases Every 5-Years
- 40,000+ Population Within 10-Miles
Executive Summary
Embree Capital Markets Group is pleased to present a build-to-suit Petco locate in Ionia, MI. This is an opportunity for an investor to acquire a well-located Petco retail store with an attractive 15-year absolute NNN lease that features 8.5% rental increases every five years.
Financial Summary (Actual - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$416,069
|
$38.17
|
Financial Summary (Actual - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $416,069 |
| Annual Per SF | $38.17 |
Property Facts
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
10,900 SF
Building Class
B
Year Built
2023
Price
$6,656,439 CAD
Price Per SF
$611 CAD
Cap Rate
6.25%
NOI
$416,069 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.72 AC
Amenities
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Petco
- -
- 10,900 SF
- $38.17 CAD
- Net
- Jul 2038
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Petco | - | 10,900 SF | $38.17 CAD | Net | Jul 2038 |
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Petco | 2731 S State Rd
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