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Tractor Supply Company, Oroville, CA

Tractor Supply Company, Oroville, CA


Investment Summary

Price $12,333,000
Cap Rate Contact for Confidentiality Agreement
NOI Contact for Confidentiality Agreement
Lease Term 20 years
Lease Type Net, with landlord responsible for roof, structure, and parking lot
Rental Increases 7% rental increases every five (5) years
Year Built 2024
Building Size 23,729 SF, plus a Greenhouse, Feed Room, and Forage Shed
Lot Size 4.7 acres (204,732 SF)
Status Available
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Investment Highlights

NET LEASE WITH SCHEDULED RENT INCREASES TO STRONG NATIONAL TENANT (S&P: “BBB+” RATED)
» Leased to Tractor Supply Company (NASDAQ: “TSCO”) for 20 years, plus three (3) five-year option periods
» Relocation from high volume store to expand to new prototype
» Rare 7% rental increases every five years
» Tractor Supply is a Fortune 500 company whose net sales for fiscal 2023 increased 2.5% to$14.56B from $14.20B in fiscal 2022

HIGH TRAFFIC LOCATION WITH FREEWAY FRONTAGE AND VISIBILITY
» Just off California Highway 70, the county’s primary traffic corridor which experiences traffic volume of 22,700 vehicles per day near the property
» High tourist volume to Lake Oroville each year (approximately 1,000,000 annual visitors) increases traffic to the greater Oroville area
» Located 41.9 miles from Beale Air Force Base, home to the west coast’s main Air Refueling wing of the U.S. Air Force and 1,300 servicemen that live on the installation

CENTRALIZED LOCATION WITH STRONG CUSTOMER BASE – ONLY TRACTOR SUPPLY COMPANY WITHIN 22-MILE RADIUS
» Proximity to farms, ranches, and residential neighborhoods, representing a large portion of Tractor Supply’s target customers
» Strong agriculture presence in Butte County, catering towards high value and consistent customers for this Tractor Supply Company
» Proximity to many other top national retailers including Walmart, Ross Dress for Less, Smart & Final Extra!, Harbor Freight Tools, Goodwill, Family Dollar, and The Home Depot, adding to store traffic and visibility along Feather River Boulevard

NEW 2024 BUILT-TO-SUIT CONSTRUCTION
» High-quality 2024 construction built to latest Tractor Supply Company prototype
» Property features excellent visibility with a freeway pylon sign and monument sign on site
» Features latest Tractor Supply Company store designs and concepts, plus a greenhouse, forage shed, feed room, fenced outdoor sales area, and ample onsite parking
» New building, limiting near-term deferred maintenance or capital costs

Property Description

» High-Visibility Location: This Tractor Supply store is prominently positioned on State Highway 70 and near the signalized intersection of Oroville Dam Boulevard East and Feather River Boulevard, which collectively see nearly 40,000 vehicles travel along them each day
» Prime Setting: The location features a prime setting in Oroville, a major agriculturally focused town on the east side of the Sacramento Valley, making Tractor Supply Company a very attractive shopping destination
» Reliable Customer Base: The site greatly benefits from its close proximity to Oroville farms, ranches, and residential neighborhoods, representing a large portion of Tractor Supply’s target customers
» Beneficial Proximity to Schools: The Northwest Lineman College – Oroville campus, Las Plumas High School,
and Oroville High School are located within three miles from the property, providing consistent traffic from the combined 6,833 students that attend these schools
» Excellent Demographics: 38,901 residents live within a five-mile radius of the subject property, supported by an average annual household income of $73,176 (projected to increase by more than 17% over the next five years)
» High Tourist Volume: Lake Oroville and the local recreation areas welcome approximately 1,000,000 annual visitors, increasing traffic to the greater Oroville area

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