PetSmart
26,290 SF | Retail Building | Indianapolis, IN 46250 | $7,836,000 ($298/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,836,000
- Property Type
-
Retail
- Square Feet
- 26,290 SF
- Price / Square Foot
- $298
Listing Contacts
Jereme Snyder
Verified Profile
Eric Carlton
Verified Profile
Saimir Qalliu
Verified Profile
- Property Info
Property Overview
The Snyder Carlton National Net Lease Team is pleased to offer to investors an excellent opportunity to purchase a true absolute NNN PetSmart in Castleton, IN. The tenant just extended their lease for a brand new 12-year term and has a 24-year operating history at this location. The roof was replaced in 2017 by the tenant.
The property is strategically located between The Fashion Mall at Keystone anchored by Nordstrom and the Castleton Square Mall which is the largest mall (1.1 million SF) in the state. 82nd Street is a high traffic commercial throughfare for the wealthiest trade area in the state and boasts AADT over 86,300 at its intersection. The upscale surrounding trade area has a population of over 168,400 residents with an average household income exceeding $121,000. Nearby retailers include Trader Joes, Whole Foods, Chick-fil-A, REI, Fresh Thyme Market, HomeGoods, Floor & Decor, The Container Store, Lifetime Fitness, PGA Tour Superstore, and Nordstrom Rack. PetSmart, Rated B+ by Standard & Poor’s, had $9.7 billion in revenue in 2023. It is the largest pet specialty chain in the U.S., and operates over 1,660 stores with 750+ in-store vet clinics.
The property is strategically located between The Fashion Mall at Keystone anchored by Nordstrom and the Castleton Square Mall which is the largest mall (1.1 million SF) in the state. 82nd Street is a high traffic commercial throughfare for the wealthiest trade area in the state and boasts AADT over 86,300 at its intersection. The upscale surrounding trade area has a population of over 168,400 residents with an average household income exceeding $121,000. Nearby retailers include Trader Joes, Whole Foods, Chick-fil-A, REI, Fresh Thyme Market, HomeGoods, Floor & Decor, The Container Store, Lifetime Fitness, PGA Tour Superstore, and Nordstrom Rack. PetSmart, Rated B+ by Standard & Poor’s, had $9.7 billion in revenue in 2023. It is the largest pet specialty chain in the U.S., and operates over 1,660 stores with 750+ in-store vet clinics.
Property Details
- Class
- C
- Year Built/Renovated
- 1998/2015
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 72,310 SF
Highlights
- Brand New 12 Year Lease Extension
- Rare Absolute NNN Corporate Lease – Zero Landlord Responsibilities
- PetSmart Operates Over 1,660 Stores with 750+ in Store Vet Clinics - Largest Pet Specialty Chain in the U.S
- Over 24 Year Operating History - Recent Lease Extension Demonstrating Strength of Location
- Roof Replaced in 2017 by the Tenant / 26,290 SF Bldg. on 1.66 Acres
- 7% Rental Increases Every 5 Years
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