ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

PetSmart – North Smithfield, RI – NN Lease

15 Dowling Village Boulevard
Sold

SALE PRICE: $3,092,542
CAP RATE: 6.49%

PROPERTY HIGHLIGHTS:

  • PRIME RETAIL — Within Dowling Village premier power center (600K SF, mixed-use development) anchored by Lowe’s, Walmart Supercenter & ALDI Supermarket — North Smithfield’s largest site for commercial development (trade area of nearly 190K people) featuring cross easements with box tenants & added development potential near the property site.
  • EXCELLENT LOCATION — 20 minutes from Providence (1.7M+ people) & less than 1 hour from Boston; I-295 runs just south of the town with direct access from nearby North Smithfield Expressway.
  • NATIONAL TENANT — PetSmart is the largest specialty pet retailer of services and solutions for the lifetime needs of pets with 1,433 stores and 202 in-store PetSmart PetsHotels® dog and cat boarding facilities in the U.S., Canada & Puerto Rico.
  • QUALITY INVESTMENT — Minimal landlord obligations; rent increases throughout base term and options.
  • LARGE, DENSE WORKFORCE TRADE AREA — Over 94,000 people, with an average household income of nearly $73K, within five miles of the property.
  • There are no features available

$3,092,542

12,164 SF

Price:

$3,092,542

Cap Rate:

6.49%

Building Size:

12,164 SF

SF Land Area:

1.27 acres

Current NOI:

$200,706

Lease Type:

NN

Remaining Term:

Seven & One-Half (7.5) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Michael O'Mara

(617) 239-3616

Download Offering Memorandum
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