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Harbor Freight Tools, Moultrie, GA

Harbor Freight Tools, Moultrie, GA


Investment Summary

Price $2,789,000
Cap Rate 6.75%
NOI $188,250
Lease Term 9+ years remaining
Lease Type Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof (transferable warranty), structure, and parking lot replacement (tenant responsible for parking lot maintenance)
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
» 24,950 residents within a five-mile radius
» $63,762 average annual household income within five miles of the site (13% projected growth by 2028)
» 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 24,950 residents within a five-mile radius and an average household income of $63,762 (projected to grow by 13% by 2028), 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.

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