Casselberry, FL - Petsmart

Description:

• PetSmart has successfully operated at this location for 30-years and recently extended their lease term 12+ years through August 2037; the tenant has
4 (5-year) options remaining
• This corporate signed lease features 7.5% rental increases at the beginning of each option period
• PetSmart operates more than 1,670 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel® dog and cat boarding facilities
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor in a state with no state income tax

• The asset is located along S U.S. Hwy 1792 averaging 66,000 VPD
• PetSmart is part of a larger development that features Target, Taco Bell, Steak ‘n Shake, and more
• Tenant synergy within the shopping center will promote crossover store exposure to the subject site
• U.S. Hwy 1792 is a strong retail thoroughfare with several national tenants such as The Home Depot, Publix, Lowe’s, Floor & Decor, and more
• More than 241,000 residents and 128,000 employees support the trade area
• $101,254 average household income
• Casselberry is currently growing at a rate of 1.58% annually and its population has increased by 6.63% since the most recent census