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Petco 2545 W Florida Ave 13,500 SF Retail Building Hemet, CA 92545 $4,767,599 CAD ($353.16 CAD/SF) 5.70% Cap Rate

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Investment Highlights

Dominant Pet Retailer, Corporate Tenancy – Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) is a leading pet specialty retailer
Strong Operating History – Petco has operated at the property since 2005
Dominant Retail Hub Location – Situated directly along W Florida Ave (±41,800 CPD), Hemet’s most dominant retail street

Brand New 12 Year Lease Extension – Petco recently executed a brand new 12-year NNN lease extension (expiring October 2037)
Complimentary Co-Tenancy & Grocer Shadow Anchor – Petco benefits from a synergistic and high-quality mix of co-tenants

Executive Summary

* Dominant Pet Retailer, Corporate Tenancy – Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) is a leading pet specialty retailer, operating ±1,500 locations throughout the United States, Puerto Rico, and Mexico. Petco has a market cap of ±$903 million and annual revenue of ±$6 billion

* Brand New 12 Year Lease Extension – Petco recently executed a brand new 12-year NNN lease extension (expiring October 2037), with three additional 5-year renewal options, demonstrating the tenant’s strength and commitment to this location

* Strong Operating History – Petco has operated at the property since 2005 (over 20 years!), reflecting a proven track record of stability, customer demand, and successful operations at this location

* Complimentary Co-Tenancy & Grocer Shadow Anchor – Petco benefits from a synergistic and high-quality mix of co-tenants, including Smart & Final Extra!, Applebee’s, Edward Jones, and more, producing a consistent daytime and evening draw to the center

* Dominant Retail Hub Location – Situated directly along W Florida Ave (±41,800 CPD), Hemet’s most dominant retail street, and hub in the immediate trade area, proving the viability of Petco as a retail property and location. In addition to the co-tenants within the shopping center, adjacent retailers include The Home Depot, Target, Lowe’s, Ross Dress for Less, Stater Bros., In-N-Out Burger, Sprouts, Grocery Outlet, Raising Cane’s, McDonald’s, Vallarta Supermarkets, El Pollo Loco, and many other national and regional retailers – this is THE location for retail!

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

13,500 SF

Building Class

Year Built

2005

Price

$4,767,599 CAD

Price Per SF

$353.16 CAD

Cap Rate

5.70%

NOI

$271,630 CAD

Tenancy

Single

Building Height

1 Story

Loading Docks

1 Exterior

Building FAR

0.27

Lot Size

1.15 AC

Zoning

C-2 - C-2 General Commercial

Parking

346 Spaces

Frontage

123’ on W Florida Ave

Retailer
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Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and their own Petco partners. Since their founding in 1965, they’ve been trailblazing new standards in pet care, delivering comprehensive wellness solutions through their products and services, and creating communities that deepen the pet-pet parent bond. Since its founding in 1999 as the Petco Foundation, Petco Love, an independent nonprofit organization, has empowered animal welfare organizations by investing in adoption and other lifesaving efforts.