PetsMart | 2925 Lancaster Dr NE
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PetsMart 2925 Lancaster Dr NE
25,021 SF 100% Leased Retail Building Salem, OR 97305 £4,679,051 (£187/SF) 5.20% Net Initial Yield
Investment Highlights
- PetSmart is located on Lancaster Dr., which is one of the busiest arterials in Salem, OR.
- PetSmart is within the overall neighborhood Shopping Center of Grocery Outlet, Planet Fitness, O'Reilly's Auto Parts & Dollar Tree.
Executive Summary
PetSmart, Inc. is the largest specialty pet retailer of services and solutions for the lifetime needs of pets. They operate more than 1,650 stores across the United States, Canada and Puerto Rico. They have a revenue in excess of $9.6 Billion in 2023 and Forbes ranked PetSmart as the 53rd largest private company in the United States. PetSmart has two (2) additional five year option periods after June 30, 2030 in their current NNN Lease. The current Lease expires on June 30, 2030. To date, PetSmart has operated in excess of 23 years at this location.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
25,021 SF
Building Class
B
Year Built
1994
Price
£4,679,051
Price Per SF
£187
Net Initial Yield
5.20%
NOI
£243,311
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Loading Docks
2 Exterior
Building FAR
0.21
Lot Size
2.69 AC
Zoning
CR - Commercial - Neighborhood Shopping Center
Parking
135 Spaces (5.4 Spaces per 1,000 SF Leased)
Frontage
191 ft on Lancaster Dr
Amenities
- Bus Route
- Pylon Sign
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 559285 | Improvements Assessment | £1,002,678 |
| Land Assessment | £1,320,259 | Total Assessment | £2,322,938 |
PROPERTY TAXES
Parcel Number
559285
Land Assessment
£1,320,259
Improvements Assessment
£1,002,678
Total Assessment
£2,322,938
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Presented by
Ruggles Commercial Realty
PetsMart | 2925 Lancaster Dr NE
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