The Snyder Carlton National Net Lease Team is pleased to offer to investors an excellent opportunity to purchase a true absolute NNN PetSmart in Castleton, IN. The tenant just extended their lease for a brand new 12-year term and has a 24-year operating history at this location. The roof was replaced in 2017 by the tenant.
The property is strategically located between The Fashion Mall at Keystone anchored by Nordstrom and the Castleton Square Mall which is the largest mall (1.1 million SF) in the state. 82nd Street is a high traffic commercial throughfare for the wealthiest trade area in the state and boasts AADT over 86,300 at its intersection. The upscale surrounding trade area has a population of over 168,400 residents with an average household income exceeding $121,000. Nearby retailers include Trader Joes, Whole Foods, Chick-fil-A, REI, Fresh Thyme Market, HomeGoods, Floor & Decor, The Container Store, Lifetime Fitness, PGA Tour Superstore, and Nordstrom Rack. PetSmart, Rated B+ by Standard & Poor’s, had $9.7 billion in revenue in 2023. It is the largest pet specialty chain in the U.S., and operates over 1,660 stores with 750+ in-store vet clinics.