Available For Sale - Retail

10,980 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
10,980 SF
Price/SF
Show Pricing $
Listing ID
SA448778
Notes
Property Tour :

https://www.youtube.com/watch?v=...



VITAL DATA

Price $4,473,000

Cap Rate 6.00%

Gross Leasable Area 10,980 Sq. Ft.

Lot Size 2.48 +/- Acres

Year Built 2020

Construction Type Brick and Stone Masonry



INVESTMENT HIGHLIGHTS:

» Subject is Currently Under Construction, Proposed to be 10,980-Square-Feet of Gross Leasable Area on a 2.48-Acre Lot, with Rent Commencement Projected

December 2020

» Tenant PetSuites of America is Owned by National

Veterinary Associates, Inc., NVA Was Purchased in 2019 by JAB Holding Co. | JAB Holding Has a Credit

Rating of A- by S&P

» Absolute NNN Lease with 20 Years Base Term and

CPI Increases | Zero Landlord Responsibility

» PetSuites of America, a Growing National Pet Resort, Spa, and Daycare Chain, Specializes in the Boarding and Grooming of Dogs and Cats. They Currently Have 38 Locations in 12 States Throughout the U.S.

» Animal Adoption Through Q2 in 2020 is at Record

Highs | An Estimated $99 Billion Will be Spent on Pets in the U.S. in 2020, Up From $95.7 Billion in

2019 (Source: AmericanPetProducts.org)

» E-Commerce Resistant: PetSuites is Entirely Service- Based, Not Dependent Upon the Sale of any Pet Supplies or Soft Goods

» Property Offers High Visibility and Immediate Access to Grand River Avenue with Over 18,650 Vehicles per Day and Beck Road with 26,825 Vehicles Daily

» Subject is Located Just One Mile to the Ascension

Providence Park Hospital Campus, One of the Largest Private Healthcare Systems in the U.S.

» Prime Retail Location, New Development Across the Street, and Surrounding Retailers Include The Home Depot, Staples, Kroger, Subway, Outback Steakhouse, Applebee’s, and Starbucks, and More

» According to Forbes, There are Now More Pet-Owning Households Than There are Those with Children, 84.6 Million Compared to 52.8 Million | In 2018, US Spending on Pets Reached $72.1 Billion, up 8.1-Percent from 2016

» Detroit Metropolitan Wayne County Airport is Located Only 26-Minutes from Subject, it is an International Airport, Serving Over 140 Destinations with 36.7 Million Annual Passengers

» Strong Demos with Over 61,000 People Living Within Novi, MI City Limits, Known as an Affluent Community with an Average Household Income of Over $181,120 Within a One-Mile Radius of Subject
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jesse Limon, Marcus & Millichap - NYC