FOR SALE SINGLE TENANT NET LEASED INVESTMENT

Transcription

1 FOR SALE SINGLE TENANT NET LEASED INVESTMENT

2 INVESTMENT HIGHLIGHTS OUTSTANDING TENANT INDUSTRY LEADER Tractor Supply Company is the largest operator of rural lifestyle retail stores in the United States. Stores supply the unique products to support their customers' rural lifestyle, from welders and generators to animal care products and men and women's workwear. Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners. PRICING $1,450,000 AREA HIGHLIGHTS-LOCATION Considered the Center of the Country, as defined by the U.S. Census Bureau, Boonville is located at the point in the country where 50% of the population is north and south of this area, and 50% of the population is east and west of the area. This prime location is within a 12-hour drive of nearly 75% of the country s population. STRONG CASH-FLOW As of October 1, 2006 the Tenant began a 10 year NN lease exercising an option to renew for 5 years with 4 additional renewals and 10% increase for each renewal. PRACTICAL LEASE STRUCTURE STRAIGHTFORWARD LEASE LANGUAGE Landlord Responsibilities: Capital Expenses Tenant Responsibilities: Insurance, Taxes, on a pro rata basis Repairs (other than capital)

3 LEASE SUMMARY ADDRESS SF PRICE/SF MONTHLY LEASE ANNUAL LEASE EXPIRATION LEASE TYPE TAXES GUARANTY 820 W Main Street 48,566 $29.86 $12,083 $145,000 9/30/2021 NN Tenant Tenant Notes: This is a former Walmart building and there are restrictions on the types of companies that may lease the space. The Special Warranty Deed restrictions regarding the Tractor Supply Company lease states that the property will not be used for the following: a general merchandise discount retail store, a wholesale membership club or warehouse club, a grocery store or supermarket, or a pharmacy/drug store. This does not apply to Wal-Mart Stores, Inc. or any parent company, affiliate, subsidiary, or related company. Current Cap Rate of 8.31% Upside potential Cap Rate of 13.96% by renting the additional 20,000 square feet of available space BUILDING SUMMARY Property Type: Retail Commercial Building: 1 Story Gross Building Area 48,566 SF TSC: 28,000 SF Available: 20,566 SF Superstructure: Block HVAC: Central heat and air Eave Height: 18 Electric: Vectren Restrooms: Two Sprinkler: Yes Docks: 2 truck docks Parking: 75 spaces +/-, 109,000 SF Gross Land Area: 274,864 SF or 6.31 Acres Roof: Rubber

4 PROPERTY DESCRIPTION Land Description: The property contains 6.31 acres or 274,864 gross square feet of land. Streets : Property s frontage is the north side of West Main Street and State Road 61 to the west. The neighborhood streets are asphalt paved, two-lane travel ways. Flood Hazard Designation :According to the Warrick GIS, the property is in a flood hazard area. PROPERTY DETAILS PURCHASE PRICE: $1,450,000 BUILDING SIZE: 48,566 SF PRICE PER SQUARE FOOT: $29.86 CAP RATE: Contact Broker ANNUAL RENTAL INCOME: $145,000/Year BUILDING TYPE: Retail OCCUPANCY: 58% NUMBER OF STORIES: 1 (20,000 SF available) YEAR BUILT: 1983 PARKING: 75 Plus LAND SIZE: 6.31 Acres +/- ZONING: C-2 FRONTAGE: W Main Street Utilities available to and being utilized by the property include city water and sanitary sewer supplied by the City of Boonville, electricity and natural gas supplied by Vectren.

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