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Banfield Pet Hospital 190 County Ave 4,370 SF Retail Building Secaucus, NJ 07094 $1,913,400 ($437.85/SF) 6% Cap Rate
Investment Highlights
- REGIONAL RETAIL HUB WITH OUTSIZED CONSUMER DRAW
- RECESSION-RESISTANT, NEEDS-BASED USE
- LOW BASIS, PRIVATE CAPITAL-FRIENDLY INVESTMENT
Executive Summary
CORPORATE CREDIT – MARS, INC. BACKED
- Banfield operates as a wholly owned subsidiary of Mars, Incorporated ($50B+ revenue), providing institutional-grade credit and eliminating single-operator risk.
DENSE NYC INFILL LOCATION
- 1.26M+ people and $199K+ AHHI within 5 miles, with strong employment density and limited new retail supply.
LONG-TERM LEASE WITH 3% ANNUAL GROWTH
- Over 9 years of remaining term with 3% annual rent increases, creating a durable and compounding income stream.
RECESSION-RESISTANT, NEEDS-BASED USE
- Veterinary care is non-discretionary, supported by rising pet ownership and sustained growth in pet healthcare spending.
LOW BASIS, PRIVATE CAPITAL-FRIENDLY INVESTMENT
- Attractive price point and low basis appeals to investors seeking passive income with credit tenancy in a high-barrier market.
REGIONAL RETAIL HUB WITH OUTSIZED CONSUMER DRAW
- $1.59B in retail sales driven by commuter traffic and proximity to major regional demand drivers.
- Banfield operates as a wholly owned subsidiary of Mars, Incorporated ($50B+ revenue), providing institutional-grade credit and eliminating single-operator risk.
DENSE NYC INFILL LOCATION
- 1.26M+ people and $199K+ AHHI within 5 miles, with strong employment density and limited new retail supply.
LONG-TERM LEASE WITH 3% ANNUAL GROWTH
- Over 9 years of remaining term with 3% annual rent increases, creating a durable and compounding income stream.
RECESSION-RESISTANT, NEEDS-BASED USE
- Veterinary care is non-discretionary, supported by rising pet ownership and sustained growth in pet healthcare spending.
LOW BASIS, PRIVATE CAPITAL-FRIENDLY INVESTMENT
- Attractive price point and low basis appeals to investors seeking passive income with credit tenancy in a high-barrier market.
REGIONAL RETAIL HUB WITH OUTSIZED CONSUMER DRAW
- $1.59B in retail sales driven by commuter traffic and proximity to major regional demand drivers.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
4,370 SF
Building Class
B
Year Built/Renovated
1948/2011
Price
$1,913,400
Price Per SF
$437.85
Cap Rate
6%
NOI
$114,796
Tenancy
Single
Building Height
1 Story
Building FAR
0.44
Lot Size
0.23 AC
Parking
13 Spaces (2.97 Spaces per 1,000 SF Leased)
Frontage
57’ on County Avenue
Amenities
- Bus Line
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Banfield Pet Hospital
- -
- 4,370 SF
- -
- Dec 2035
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Banfield Pet Hospital | - | 4,370 SF | - | Dec 2035 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Contacts
-
Eric Suffoletto -
David Hoppe -
Mike Lucier -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Kendra Doherty -
Atlantic Capital Partners
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Banfield Pet Hospital | 190 County Ave
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