Charlotte, NC 28208

Pet Paradise

Property Address

2919 Boyer Street, Charlotte, NC, USA

Offering Summary

  • Price: $9,541,215
  • Lot Size: 4.01 Acres
  • Cap Rate: 6.50%
  • Year Built: 2009 / 2021
  • Building SF: 24,429
  • Status: Available
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  • The Asset is well located within the Charlotte MSA, in immediate proximity to the Charlotte Douglas International Airport
  • High volume facility, with Pet Paradise expanding the site by 4,787 SF in 2020 to accommodate the need for additional space
  • This site is one of five Pet Paradise’s in the Charlotte MSA, signifying their market penetration and local knowledge
  • Strategic airport location, providing customers the easy opportunity to drop off and pick up their animals before and after traveling
  • The Asset is subject to an ideal absolute triple net lease with +/- 16.6 years of firm term remaining and up to 2.00% annual increases, allowing for a completely passive investment structure with income appreciation consistently over the primary term
  • Charlotte continues to experience significant in-migration with over 200,000 new residents moving to the MSA over the past five years

Broker Information