Lee & Associates, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale, the fee-simple interest in the single-tenant PetSuites property located at 219 Archdale Drive in Charlotte, North Carolina. PetSuites, operating under the National Veterinary Associates umbrella, has established itself as a premium pet care destination offering comprehensive boarding, daycare, grooming, and training services. The brand's commitment to exceptional pet care and state-of-the-art facilities has positioned it as a leader in the rapidly expanding pet services industry.
This investment offers an Absolute NNN lease structure with built-in rent increases of 3% every third year, providing investors with consistent, inflation-hedged income growth. The lease includes three five-year renewal options, offering long-term stability and potential for extended tenancy. It is secured by a corporate guaranty from National Veterinary Associates, which is majority-owned by JAB Holdings Co. (Krispy Kreme, Dr. Pepper, Keurig, Peet's Coffee & Tea, Panera Brands, and more), whose assets under management exceed $50 billion.
The property is strategically positioned within Charlotte's thriving Steele Creek retail corridor, surrounded by major national retailers including Costco Wholesale, McDonald's, Ross Dress for Less, and The Whitehall Commons Shopping Center (Walmart, Lowe’s, Publix, Chick-fil-a). Located directly off the Interstate 77 and Nations Ford Road interchange with traffic counts exceeding 165,000 vehicles per day, the property ensures exceptional visibility and customer accessibility.
Charlotte ranks as the 3rd fastest growing city nationally, adding approximately 30,000 newcomers between July 2023 and July 2024. This explosive growth drives sustained demand for premium pet services, while the surrounding trade area's 202,479 residents boast an average household income of $149,976 - approximately 76% above the national median.
The investment benefits from North Carolina's business-friendly environment, featuring a 2.5% corporate income tax rate and no estate or inheritance taxes. Combined with the pet care industry's projected growth from $256 billion in 2024 to $476 billion by 2034, this property represents an exceptional opportunity in one of America's most dynamic metropolitan markets.