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Banfield Pet Hospital | Secaucus, NJ 190 County Ave 4,370 SF Retail Building Secaucus, NJ 07094 $1,913,267 ($437.82/SF) 6% Cap Rate
Investment Highlights
- CORPORATE CREDIT – MARS, INC. BACKED
- LONG-TERM LEASE WITH 3% ANNUAL GROWTH
- DENSE NYC INFILL LOCATION
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
Retail
Property Subtype
Building Size
4,370 SF
Building Class
B
Year Built/Renovated
1948/2011
Price
$1,913,267
Price Per SF
$437.82
Cap Rate
6%
NOI
$114,796
Tenancy
Single
Building Height
1 Story
Building FAR
0.44
Lot Size
0.23 AC
Parking
17 Spaces
Frontage
57’ on County Avenue
Amenities
- Bus Line
- Security System
- Signage
- Storage Space
- Air Conditioning
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-00034-0000-00009-0000-HM | Improvements Assessment | $613,300 |
| Land Assessment | $120,000 | Total Assessment | $733,300 |
Property Taxes
Parcel Number
09-00034-0000-00009-0000-HM
Land Assessment
$120,000
Improvements Assessment
$613,300
Total Assessment
$733,300
Contacts
-
Eric Suffoletto -
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Christopher Wiener -
Atlantic Capital Partners
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