PetSuites of Houston
8320 Copper Creek Lane, Missouri City, Texas, USA Map
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
- 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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