Exclusively Represented By:
Rob Sutton
The Royston Group
Phone: 310.451.2100
Lic Number: 04168136
455 Cochrane Street, Simi Valley, California
ACTUAL PROPERTY


PETSMART


Simi Valley, California
Absolute Triple Net Lease
Adjacent to Wal-Mart, Home Depot,
Office Depot and Party City
S&P “BB+” Rated Tenant
Major Retail Corridor
Price $7,350,000 – 5.45% Cap Rate
PETSMART.GC
VENTURA
The information set forth herein has been received by us from sources we believe to be reliable, but we have made no independent
investigation of the accuracy or completeness of the information and make no representation with respect thereto. The above is
submitted subject to errors, prior sale or lease, change in status or withdrawal without notice.
11661 San Vicente Blvd., Suite 707 Los Angeles, CA 90049-5515 ph 310.451.2100 fax 310.395.3557
www.theroystongroup.com
Exclusively Represented By:
Rob Sutton
The Royston Group
Phone: 310.451.2100
[email protected]
S&P “BB+” RATED TENANT
ADJACENT TO HOME DEPOT AND WALMART
EXISTING ASSUMABLE FINANCING
OVER $100,000 AVERAGE HOUSEHOLD INCOME
LOCATION:
Located at 455 Cochran Street in Simi Valley, California. The subject property is
in a mall with Wal-Mart, Home Depot, Office Depot, Party City and BevMo.
Costco is less than one block away.
LOT SIZE:
Approximately 3.04 acres.
IMPROVEMENTS:
The improvements consist of a single story retail building of approximately
19,240 square feet built in 2000.
LEASE:
Leased to PetSmart on an absolute net basis with an original lease term of 15
years commencing August 1, 2003 and expiring July 31, 2018. The tenant is
responsible for taxes, insurance and maintenance including the roof, walls and
foundation. The rent is flat for the primary term. There are four 5-year options to
renew.
NET ANNUAL
INCOME:
$400,895
PRICE:
$7,350,000 (5.45% Return)
PRICE PER
SQUARE FOOT:
$382.02
RENT PER
SQUARE FOOT:
$20.83
EXISTING
FINANCING:
CASH FLOW
ANALYSIS:
There is an existing assumable loan with the original balance of $3,500,000 at
5.89% interest, amortized over 30 years, all due and payable August 1, 2018.
The current balance is approximately $3,000,000 and in 2018 the loan will have a
balance of $2,474,848. The loan must be assumed.
Price
Debt
Down
$7,350,000
$3,000,000
$4,350,000
Net Income
Debt Service
Cash on Cash
$400,895
$248,849
$152,046
3.50% Cash on Cash Return
DEMOGRAPHICS:
Radius
Population
Average HH Income
1 mile
2,693
$91,284
3 mile
48,804
$105,887
5 mile
124,757
$110,913
Average Trips Per Day: Cochrane & Madera – 35,000 cars per day
Cochrane & Freedom – 14,000 cars per day
118 Freeway & Madera – 96,000 cars per day
PETSMART.GC
VENTURA
The information set forth herein has been received by us from sources we believe to be reliable, but we have made no independent
investigation of the accuracy or completeness of the information and make no representation with respect thereto. The above is
submitted subject to errors, prior sale or lease, change in status or withdrawal without notice.
11661 San Vicente Blvd., Suite 707 Los Angeles, CA 90049-5515 ph 310.451.2100 fax 310.395.3557
ABOUT
THE AREA:
Simi Valley is an incorporated city located in a valley of the same name in the
southeast corner of Ventura County, California, bordering the San Fernando
Valley of Los Angeles in the Greater Los Angeles Area. According to the United
States Bureau of the Census, the city had a population of 124,237 in 2010 up
from 111,351 in 2000.
Simi Valley is the home of the Ronald Reagan Presidential Library, where the
former president was laid to rest following his death in 2004. The city of Simi
Valley is surrounded by the Santa Susana Mountain range and the Simi Hills,
west of the San Fernando Valley and east of the Conejo Valley. It is largely a
commuter bedroom community feeding the larger cities in Ventura County to the
west and the Los Angeles area and the San Fernando Valley to the east.
Simi Valley repeatedly appears on Safest Cities in America lists.
ABOUT THE
TENANT:
PetSmart, Inc., together with its subsidiaries, operates as a specialty retailer of
products, services, and solutions for pets in the United States, Puerto Rico, and
Canada. The company offers consumables, such as pet food, treats, and litter;
and hard goods, which include pet supplies and other goods comprising collars,
leashes, health care supplies, grooming and beauty aids, toys, apparel, and pet
beds and carriers, as well as aquariums and habitats, accessories, décor, and
filters for fish, birds, reptiles, and small pets. It also provides fresh-water fish,
small birds, reptiles, and small pets; and pet services, such as grooming,
including precision cuts, baths, nail trimming and grinding, and teeth brushing, as
well as training, boarding, and day camp services. In addition, the company
operates PetsHotels that offer boarding for dogs and cats; provides personalized
pet care, an on-call veterinarian, temperature controlled rooms and suites, daily
specialty treats and play time, and day camp services for dogs; and operates
veterinary hospitals, which offer services comprising routine examinations and
vaccinations, dental care, a pharmacy, and surgical procedures.
As of January 29, 2012, it operated 1,232 retail stores; 192 PetsHotels; 791
veterinary hospitals under the trade name of Banfield, The Pet Hospital; and 8
hospitals operated through other third parties in Canada. The company also
offers its products through an e-commerce and community site, PetSmart.com.
PetSmart, Inc. was founded in 1986 and is based in Phoenix, Arizona. PetSmart
has a Standard & Poor “BB+”.
FYE Feb.
Revenues
Net Earnings
Stockholders Equity
PETSMART.GC
2012
$6.1 billion
$290 million
$1.15 billion
2011
$5.6 billion
$239 million
$1.17 billion
2010
$5.3 billion
$198 million
$1.17 billion
VENTURA
The information set forth herein has been received by us from sources we believe to be reliable, but we have made no independent
investigation of the accuracy or completeness of the information and make no representation with respect thereto. The above is
submitted subject to errors, prior sale or lease, change in status or withdrawal without notice.
11661 San Vicente Blvd., Suite 707 Los Angeles, CA 90049-5515 ph 310.451.2100 fax 310.395.3557