PetsMart 2100 McHenry Ave Local commercial 2 341 m² À vendre Modesto, CA 95350 5 712 571 € (2 440,06 €/m²) Taux de capitalisation 7 %

ALIVE Commercial Real Estate is pleased to offer this Absolute NNN PetSmart located in Modesto, CA at a list price of $6,228,000 7.0%
Cap Rate. Current ownership acquired this property in 1993 as a sale leaseback from PetSmart, who has been successfully operating at
this location for 30 + years. PetSmart is currently in their 3rd and final option period, with the term expiring June 30, 2028. The current
Net Operating Income is $435,966 which equates to $1.44 PSF, NNN. The improvements consist of a 25,200 SF building situated on a
2.29 acre parcel (both per public records). PetSmart is located along the high traffic McHenry Avenue corridor, with traffic counts
exceeding 36,500 vehicles per day. The property is located adjacent to a recently renovated UHAUL storage facility to the south and the
Organized Labor Credit Union to the north. Both McDonald’s and US Bank are positioned as outparcels within the center. Additional
retail tenants in the immediate trade area include: Safeway, Burlington, Sprouts, CVS, Rite Aid, Starbucks, Panera Bread, Chipotle, Habit
Burger as well as many others. In addition to the retail presence within the trade area, PetSmart also benefits from a densely populated
residential area comprised of more than 17,000 people within a 1-mile radius and just over 82,000 people within a 2-mile radius. The
lease is Absolute NNN and offers a passive income investment at an attractive yield of 7.0% Cap Rate. There is a scheduled 6% rental
increase on July 1, 2026, which would increase the yield to 7.4% at list price in just over 1 year.