925 Spears Crk Ct Elgin, SC 29045-8281

Property Details for 925 Spears Crk Ct

Year built

2008

Lot size

2.63 lot acres

Property size

4,800 SF

Zone code

M-1

Property type

Commercial real estate

APN

R28802-02-01

APU

R288020201

Description

This exceptional investment opportunity presents a 15,000 square foot, fee-simple owned pet resort in Elgin, South Carolina. The property is currently 100% occupied by Destination Pet, a major national operator with over 180 locations, under a triple-net (NNN) lease. The lease commenced April 27, 2022, and expires April 30, 2032, with four, five-year renewal options. The asking price is $1,300,000, representing a 7.38% cap rate and a price per square foot of $86.67. The property boasts a strong net operating income (NOI) of $96,000, with built-in rent increases of 10% every five years, providing a hedge against inflation. Situated on a 2.63-acre lot, the facility was built in 2008 and enjoys a prime location off Interstate 20, ensuring high visibility and convenient access. The tenant provides comprehensive pet services, including boarding, grooming, daycare, and training, catering to a wide range of customer needs. The robust growth of the pet care industry, coupled with the tenant's strong financial backing and the recession-resistant nature of the business, makes this a compelling investment opportunity with significant long-term potential. The current below-market rent provides further upside potential for future owners. This is a rare chance to acquire a high-performing, net-leased property with a reputable national tenant and significant built-in growth.