Retail

4240 S Mooney Blvd


4240 S Mooney Blvd
VisaliaCA 93277

4240 S Mooney Blvd

Retail: Big Box

4240 S Mooney Blvd, VisaliaCA 93277

Details

Total Size
19,638 SF
Land
1.29 Acres
Building Status
Existing
Number of Buildings
1
Number of Floors
1
Occupancy Type
Single Tenant
Percentage Leased
100
County
Tulare

Current Listings

4240 S Mooney Blvd

Retail For SalePetSmart - SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE
$5,960,000
Cap Rate: 6.1%
CBRE

PetSmart - SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

4240 South Mooney Boulevard, Visalia, CA 93277

Price: $5,960,000

Square Footage: 19,638 ft²

Lot Size: 1.28 acres

Price PSF: $303

Cap Rate: 6.10%

Year Built: 2004

Lease Expiration: July 31, 2029

APN: 126-730-016-000

Tenant/Lessee: PetSmart (PetSmart, Inc.)

Increases: 10% / 5 Yrs.

Zoning: CR (Commercial)

Lease Type: NNN

Ownership: Fee Simple (Land & Building)

NOI (Year 1): $363,344

Parking: Reciprocal

Traffic Counts: ±32,000 VPD ​​​​​​​(S Mooney Blvd & ​​​​​​​Visalia Pkwy)

SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

Sector Leasing Operator | Dominant Brand

Founded in 1986, PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. With over 55,000 associates operating more than 1,500 pet stores in the United States, Canada, and Puerto Rico, as well as 200 in-store PetSmart PetsHotel dog and cat boarding facilities.

High Credit Tenancy / Recent Long-Term Renewal

100% leased to PetSmart, the largest specialty pet retailer on a recently extended ten (10) year Corporate NNN Lease with built in 10% increases every five (5) years.

Proven Location

The subject property has operated as a PetSmart since its original construction in 2004. PetSmart recently exercised their second (2nd) and third (3rd) renewal options simultaneously showing their strong commitment to this location. The Visalia PetSmart location boasts sales that rank it in the top third of CA PetSmart stores.

Improving Returns

Due to embedded increases, the Net Operating Income is projected to increase 20% over the anticipated hold period, providing an inflation hedge compared to many "flat" STNL investments.

Coupon Clipper

NNN Lease Structure with limited Landlord Responsibility, perfect for passive investors looking to "collect coupons."

NNN Expense Pass Through

100% leased to Michaels Arts & Crafts on a NNN lease structure which includes Admin Fee reimbursement.

EXCELLENT RETAIL LOCATION

Regional Draw

PetSmart is located within Packwood Creek East Shopping Center, one of Visalia's largest and most prominent Power Centers. The center features a dynamic tenant line up including: Lowe's, PetSmart, Pier 1, Cost Plus World Market, Tuesday Morning, Guitar Center, and many more.

Strong Big Box Sales

The Big Box Anchor within Packwood Creek East (Lowe's) and immediately surrounding centers (Target in Packwood Creek West) and Costco boast extremely strong sales.*

Packwood Creek East Lowe's is Ranked #6 out of 86 store locations in CA

Packwood Creek West Target is ranked #38 out of 168 store locations in CA

Costco Warehouse annual sales are in excess of $225 million and Costco Fuel Sales of $30 million.

*source: Visalia Chamber of Commerce

High Identity / High Traffic Location

Ideal retail location with clear line of sight visibility, multiple ingress/egress driveways along South Mooney Boulevard and Visalia Parkway, and an intersection traffic count of ±32,000 VPD.

Residential and Commercial Proximity

Proximity to both commercial and residential density drives frequent customer visits/traffic to the center throughout the business day.

High Growth Trade Area

Visalia is the cultural, economic, and commercial hub of Tulare County. The thriving economy is comprised of farming, manufacturing, and distribution providers. Retail sales per capita in Visalia are $16,625, far exceeding California's of $12,561.

STRONG SAN JOAQUIN VALLEY DEMOGRAPHICS

County Seat

As the county seat of Tulare County, Visalia serves as the economic and governmental center to one of the most productive single agricultural counties in the Country.

More than 144,000 people and 58,828 employees with an Average Household Income of over $83,000 (Projected Growth to $100,599 by 2023) within a three (3) mile radius of the site.

EXCELLENT 1031 EXCHANGE UPLEG OR PASSIVE PORTFOLIO ADDITION

Low Management Offering

National tenant with proven operating history and recently renewed long term NNN lease provides an excellent low management, low hassle investment opportunity.

Debt Free

PetSmart will be offered free and clear of existing financing, allowing new buyer an opportunity to customize debt to achieve optimal returns.

CBRE

PetSmart - SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

4240 South Mooney Boulevard, Visalia, CA 93277

Price: $5,960,000

Square Footage: 19,638 ft²

Lot Size: 1.28 acres

Price PSF: $303

Cap Rate: 6.10%

Year Built: 2004

Lease Expiration: July 31, 2029

APN: 126-730-016-000

Tenant/Lessee: PetSmart (PetSmart, Inc.)

Increases: 10% / 5 Yrs.

Zoning: CR (Commercial)

Lease Type: NNN

Ownership: Fee Simple (Land & Building)

NOI (Year 1): $363,344

Parking: Reciprocal

Traffic Counts: ±32,000 VPD ​​​​​​​(S Mooney Blvd & ​​​​​​​Visalia Pkwy)

SECTOR LEADING TENANT / LOW MANAGEMENT HASSLE

Sector Leasing Operator | Dominant Brand

Founded in 1986, PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. With over 55,000 associates operating more than 1,500 pet stores in the United States, Canada, and Puerto Rico, as well as 200 in-store PetSmart PetsHotel dog and cat boarding facilities.

High Credit Tenancy / Recent Long-Term Renewal

100% leased to PetSmart, the largest specialty pet retailer on a recently extended ten (10) year Corporate NNN Lease with built in 10% increases every five (5) years.

Proven Location

The subject property has operated as a PetSmart since its original construction in 2004. PetSmart recently exercised their second (2nd) and third (3rd) renewal options simultaneously showing their strong commitment to this location. The Visalia PetSmart location boasts sales that rank it in the top third of CA PetSmart stores.

Improving Returns

Due to embedded increases, the Net Operating Income is projected to increase 20% over the anticipated hold period, providing an inflation hedge compared to many "flat" STNL investments.

Coupon Clipper

NNN Lease Structure with limited Landlord Responsibility, perfect for passive investors looking to "collect coupons."

NNN Expense Pass Through

100% leased to Michaels Arts & Crafts on a NNN lease structure which includes Admin Fee reimbursement.

EXCELLENT RETAIL LOCATION

Regional Draw

PetSmart is located within Packwood Creek East Shopping Center, one of Visalia's largest and most prominent Power Centers. The center features a dynamic tenant line up including: Lowe's, PetSmart, Pier 1, Cost Plus World Market, Tuesday Morning, Guitar Center, and many more.

Strong Big Box Sales

The Big Box Anchor within Packwood Creek East (Lowe's) and immediately surrounding centers (Target in Packwood Creek West) and Costco boast extremely strong sales.*

Packwood Creek East Lowe's is Ranked #6 out of 86 store locations in CA

Packwood Creek West Target is ranked #38 out of 168 store locations in CA

Costco Warehouse annual sales are in excess of $225 million and Costco Fuel Sales of $30 million.

*source: Visalia Chamber of Commerce

High Identity / High Traffic Location

Ideal retail location with clear line of sight visibility, multiple ingress/egress driveways along South Mooney Boulevard and Visalia Parkway, and an intersection traffic count of ±32,000 VPD.

Residential and Commercial Proximity

Proximity to both commercial and residential density drives frequent customer visits/traffic to the center throughout the business day.

High Growth Trade Area

Visalia is the cultural, economic, and commercial hub of Tulare County. The thriving economy is comprised of farming, manufacturing, and distribution providers. Retail sales per capita in Visalia are $16,625, far exceeding California's of $12,561.

STRONG SAN JOAQUIN VALLEY DEMOGRAPHICS

County Seat

As the county seat of Tulare County, Visalia serves as the economic and governmental center to one of the most productive single agricultural counties in the Country.

More than 144,000 people and 58,828 employees with an Average Household Income of over $83,000 (Projected Growth to $100,599 by 2023) within a three (3) mile radius of the site.

EXCELLENT 1031 EXCHANGE UPLEG OR PASSIVE PORTFOLIO ADDITION

Low Management Offering

National tenant with proven operating history and recently renewed long term NNN lease provides an excellent low management, low hassle investment opportunity.

Debt Free

PetSmart will be offered free and clear of existing financing, allowing new buyer an opportunity to customize debt to achieve optimal returns.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

©Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Catylist Real Estate Software, Inc. does not assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.