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Petco 2545 W Florida Ave 13,500 SF Retail Building Hemet, CA 92545 $3,495,000 ($258.89/SF) 5.70% Cap Rate
Investment Highlights
- Dominant Pet Retailer, Corporate Tenancy – Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) is a leading pet specialty retailer
- Strong Operating History – Petco has operated at the property since 2005
- Dominant Retail Hub Location – Situated directly along W Florida Ave (±41,800 CPD), Hemet’s most dominant retail street
- Brand New 12 Year Lease Extension – Petco recently executed a brand new 12-year NNN lease extension (expiring October 2037)
- Complimentary Co-Tenancy & Grocer Shadow Anchor – Petco benefits from a synergistic and high-quality mix of co-tenants
Executive Summary
* Dominant Pet Retailer, Corporate Tenancy – Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) is a leading pet specialty retailer, operating ±1,500 locations throughout the United States, Puerto Rico, and Mexico. Petco has a market cap of ±$903 million and annual revenue of ±$6 billion
* Brand New 12 Year Lease Extension – Petco recently executed a brand new 12-year NNN lease extension (expiring October 2037), with three additional 5-year renewal options, demonstrating the tenant’s strength and commitment to this location
* Strong Operating History – Petco has operated at the property since 2005 (over 20 years!), reflecting a proven track record of stability, customer demand, and successful operations at this location
* Complimentary Co-Tenancy & Grocer Shadow Anchor – Petco benefits from a synergistic and high-quality mix of co-tenants, including Smart & Final Extra!, Applebee’s, Edward Jones, and more, producing a consistent daytime and evening draw to the center
* Dominant Retail Hub Location – Situated directly along W Florida Ave (±41,800 CPD), Hemet’s most dominant retail street, and hub in the immediate trade area, proving the viability of Petco as a retail property and location. In addition to the co-tenants within the shopping center, adjacent retailers include The Home Depot, Target, Lowe’s, Ross Dress for Less, Stater Bros., In-N-Out Burger, Sprouts, Grocery Outlet, Raising Cane’s, McDonald’s, Vallarta Supermarkets, El Pollo Loco, and many other national and regional retailers – this is THE location for retail!
* Brand New 12 Year Lease Extension – Petco recently executed a brand new 12-year NNN lease extension (expiring October 2037), with three additional 5-year renewal options, demonstrating the tenant’s strength and commitment to this location
* Strong Operating History – Petco has operated at the property since 2005 (over 20 years!), reflecting a proven track record of stability, customer demand, and successful operations at this location
* Complimentary Co-Tenancy & Grocer Shadow Anchor – Petco benefits from a synergistic and high-quality mix of co-tenants, including Smart & Final Extra!, Applebee’s, Edward Jones, and more, producing a consistent daytime and evening draw to the center
* Dominant Retail Hub Location – Situated directly along W Florida Ave (±41,800 CPD), Hemet’s most dominant retail street, and hub in the immediate trade area, proving the viability of Petco as a retail property and location. In addition to the co-tenants within the shopping center, adjacent retailers include The Home Depot, Target, Lowe’s, Ross Dress for Less, Stater Bros., In-N-Out Burger, Sprouts, Grocery Outlet, Raising Cane’s, McDonald’s, Vallarta Supermarkets, El Pollo Loco, and many other national and regional retailers – this is THE location for retail!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,500 SF
Building Class
C
Year Built
2005
Price
$3,495,000
Price Per SF
$258.89
Cap Rate
5.70%
NOI
$199,125
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.27
Lot Size
1.15 AC
Zoning
C-2 - C-2 General Commercial
Parking
346 Spaces
Frontage
123’ on W Florida Ave
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Petco began in 1965 as a mail-order veterinary supply company in California. The first retail store opened in 1976, expanding the business model. Today the company operates numerous locations nationwide selling pet food, supplies, and live animals. Additional services include grooming, training, and veterinary care through in-store clinics and mobile units. Petco also offers digital resources like telehealth and subscription services for preventative pet care.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,637,706 | |
| Land Assessment | $753,621 | Total Assessment | $3,391,327 |
Property Taxes
Parcel Numbers
Land Assessment
$753,621
Improvements Assessment
$2,637,706
Total Assessment
$3,391,327
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Petco | 2545 W Florida Ave
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