Tractor Supply Company,
Apple Valley , CA Investment Summary
| Price | $6,981,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 15 Years |
| Lease Type | Net, with landlord responsible for roof, structure, and parking lot replacement |
| Rental Increases | CALL FOR DETAILS |
| Year Built | 2019 |
| Building Size | 18,800 SF |
| Lot Size | |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NET LEASE WITH SCHEDULED RENT INCREASES TO STRONG NATIONAL TENANT
» Leased to Tractor Supply Company (NASDAQ: “TSCO”) for 15 years, plus four fiveyear option periods
» 5% rental increases every five years, providing a hedge against inflation
» Tractor Supply is a Fortune 500 company with revenues of $7.9 billion
HIGH-TRAFFIC LOCATION IN PRIMARY RETAIL CORRIDOR
» Excellent visibility and access to 35,500 vehicles per day directly in front of the site on the corner of Bear Valley Road and Braeburn Road
» Bear Valley Road serves as one of Apple Valley’s primary retail corridors, and the property is close to several large shopping center and national tenants
» Notable retailers near the property include Target, Lowe’s, Stater Bros., Rite Aid, Best Buy, Bed Bath & Beyond, PetSmart, Big 5, Home Depot, Walmart, Big Lots, and more
STRONG CUSTOMER BASE WITH ROBUST DEMOGRAPHICS
» Close to several schools, including Victor Valley College, which has 12,892 students and 803 employees
» Densely populated area, with 105,867 residents living within a five-mile radius
» High average household income of $88,822 within one mile of the property
» Surrounded by farms, ranches, and residential neighborhoods, representing a large portion of Tractor Supply’s target customers
» 44% of Tractor Supply’s store sales come from pets and livestock, which bodes well for rural and suburban locations
NEW 2019 BUILT-TO-SUIT CONSTRUCTION
» High-quality construction due to be completed in early 2019
» Built to Tractor Supply Company’s exact specifications
» Features latest Tractor Supply Company store designs and concepts, including fenced outdoor sales area and ample onsite parking
CLICK HERE TO DOWNLOAD CONFIDENTIALITY AGREEMENT
Property Description
<b>Sold</b>
The property is located and the corner of Bear Valley Road and Braeburn Road, with excellent visibility and access to 35,500 vehicles per day directly in front of the site. Bear Valley Road serves as one of Apple Valley’s primary retail corridors, and the property is close to several large shopping center and national tenants. Notable retailers near the property include Target, Lowe’s, Stater Bros., Rite Aid, Best Buy, Bed Bath & Beyond, PetSmart, Big 5, Home Depot, Walmart, Big Lots, and more.
The property is close to several schools, including Victor Valley College, which has 12,892 students and 803 employees. Additionally, the property is surrounded by farm and ranch land, as well as densely populated residential neighborhoods, with 105,867 people living within five miles of the property. Tractor Supply caters to farmers, ranchers, and homeowners, amongst others; the property’s proximity to residential neighborhoods, farms, and ranches provides a strong customer base for Tractor Supply.
