Investment Summary
Price | $3,061,000 |
Cap Rate | 6.15% |
NOI | $188,250 |
Lease Term | 9+ years remaining |
Lease Type | Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot. |
Rental Increases | Approximate 10% rental increases every five (5) years in options |
Year Built | 2022 |
Building Size | ±15,000 SF |
Lot Size | 2.00 acres (87,120 SF) |
Status | Available |
Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Jack Hinson Brokerage 704.572.9921 j.hinson@cushwake.com CA RE License #02059267 Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
10-YEAR CORPORATE GUARANTEED NET LEASE WITH SCHEDULED RENTAL INCREASES
» 10-year net lease with scheduled rental increases
» Landlord responsibilities limited to roof & structure
» Corporate guaranteed by Harbor Freight Tools USA, Inc.
» Harbor Freight Tools is one of the nation’s fastest-growing retailers with over 1,300 stores nationwide, over 23,000 employees, and more than 40 million customers
» High-quality 2022 construction with ample parking on site
EXCELLENT VISIBILITY AND ACCESS TO OVER 20K DAILY VEHICLES
» Prominent location along North Veterans Parkway which experiences 20,400 vehicles per day in front of the site
» Situated right off freeway 319 with nearby national retailers such as Lowe’s Home Improvement, The Home Depot, The UPS Store, Starbucks, Publix Supermarket, Chick-fil-A, Walmart Supercenter, and more
» Near Southern Regional Technical College – Moultrie (4,360 students), and Colquitt County High School (2,754 students)
» Minutes from Holiday Inn Express & Suites Moultrie, an IHG Hotel (68 rooms), and Hampton Inn Moultrie (62 rooms)
DENSELY POPULATED AND AFFLUENT COMMUNITY WITH ACCESS TO THE MASSIVE ATLANTA TRADE AREA
» Moultrie is a growing economy with strong demand for commercial real estate
» 24,753 residents within a five-mile radius
» $59,559 average annual household income within five miles of the site (14% projected growth by 2027)
» Ideal location for Harbor Freight Tools’ target market of both professional contractors and DIY enthusiasts
» Location serves Moultrie and surrounding rural areas, which lack other tools and hardware retail options allowing Harbor Freight Tools a wider geographic area reach to attract potential customers
Property Description
» Prime location: Situated along North Veterans Parkway with high traffic counts of 20,400 vehicles per day and convenient freeway access, Additionally, the property is surrounded by well-known national retailers such as Lowe’s, Home Depot, Publix Super Market, Starbucks, and more.
» Proximity to well-attended educational institutions: The property has the potential to attract a diverse customer base of students, parents, and faculty with its location near Southern Regional Technical College and Colquitt County High School (over 7,000 combined students).
» Nearby hotels: The property is just minutes away from two major hotels – Holiday Inn Express & Suites Moultrie and Hampton Inn Moultrie, providing a nearby customer base for the tenant.
» Growing economy and population: With 24,753 residents within a five-mile radius and an average household income of $59,559 (projected to grow by 14% by 2027), Moultrie’s growing economy and strong demand for commercial real estate make it an attractive location for investment.
» Ideal for Harbor Freight Tools: The property’s location, demographics, and proximity to other prominent retailers make it an ideal fit for Harbor Freight Tools’ target market of both professional contractors and DIY enthusiasts.
» Wider trade area reach: The property is located strategically to serve Moultrie and surrounding rural areas, which lack other tools and hardware retail options, giving Harbor Freight Tools a wide trade area to attract potential customers from a large geographic area.