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PetSuites of Houston

8320 Copper Creek Lane, Missouri City, Texas, USA Map
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Prime Build-to-Suit Absolute NNN Lease with Rent Increases in Base and Options, Strong Amazon-Proof Tenant

Listing Price $5,690,000

Status Closed
Lease Type Absolute Net
CAP Rate 6.00%
GLA (Sq. Ft.) 14,240
NOI $341,379
Lease Term Remaining 19 Years
Increases 10% Every 5 Years
Options Five, 5-Year Options
State (BOR) TX
Broker of Record Tim Speck
License # (BOR) Lic. # 9002994
Close Date Mar 15, 2021

Investment Highlights

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  • Subject Property is a Build-to-Suit, 14,240 Square-Foot Building on a 1.70-Acre Lot, with 36 Parking Spots
  • Absolute NNN Lease with 20 Years Base Term and Zero Landlord Responsibility
  • Robust Traffic Counts from Highway 6 (55,773 VPD) and Five Miles from the I-69 Interchange
  • Surrounded by Affluent Suburban Housing with an Average Household Income of Over $145K within Five Miles and Strategically Located Between Sienna and Riverstone, Master-Planned Residential Communities
  • Tenant Pet Suites of America is Owned by National Veterinary Associates (NVA), Purchased in 2019 by JAB Holding Co. | JAB Holding Has a Credit Rating of A- by S&P

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in new, build-to-suit, PetSuites absolute net lease investment located at 8320 Copper Creek Lane, Missouri City, Texas 77459 (the “Property”). Built in 2019, and delivered July 2019, the Property comprises a +/- 14,240 SF building on a highly visible +/- 1.70-acre parcel, that is strategically positioned to be easy to access for 56,000 vehicles per day at Highway 6, surrounded by residential and commercial development.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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