Long Term Investment Grade- Rare NY Asset | Tractor Supply
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Long Term Investment Grade- Rare NY Asset Tractor Supply
19,097 SF Retail Building Middletown, NY 10941 $8,543,880 CAD ($447 CAD/SF) 6% Cap Rate
Investment Highlights
- Long Term Corp. Lease (Fee- 9+ Yrs.) by Tractor Supply (NASDAQ: TSCO)- Market CAP $21.4B
- Attractive 10% Rent Bumps thru Primary Term/Options – Minimal LL Duties- Large 4.27 Acre
- High Profile Site across from Sam’s Club/Walmart/Home Depot/Lowe’s and Hannaford Market
- Largest Operator of Rural Lifestyle Retail Stores in the U.S. - 2016+ Locations in 49 States
- Affluent Suburb Community outside of New York City- Strong Demo’s ($104K HHI) and Growth
Executive Summary
The SnyderCarlton Team is pleased to offer to qualified investors an opportunity to purchase an investment grade single tenant net leased asset that is fully occupied by Tractor Supply (NASDAQ: TSCO) with over 9.7 lease years remaining. Located in Middletown, NY, the property comprises a ~19,097 SF building on a 4.27-acre lot and is positioned near the intersection of State Route 17 and Interstate 84 across from Hannaford (supermarket) and near the recently constructed Residence Inn, La Quinta Inn and Starbucks. Additionally, the subject property is next to major regional draw tenants such as Sam’s Club, Lowe’s, Petco, Walmart Supercenter, The Home Depot, and more. This is an excellent opportunity to own an investment grade credit tenant (NASDAQ: TSCO – rated “BBB” by S&P) with over 9.7 years of lease term remaining, 10% rental increases every 5 years and minimal landlord management responsibilities.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
19,097 SF
Building Class
B
Year Built
2016
Price
$8,543,880 CAD
Price Per SF
$447 CAD
Cap Rate
6%
NOI
$512,622 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Land Acres
4.30 AC
Zoning
TC
Parking
63 Spaces (3.3 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Tractor Supply
- Retailer
-
99,999 SF
- -
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Tractor Supply | Retailer | 99,999 SF | - | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 335200-041-000-0001-096.130-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $2,946 CAD | Total Assessment | $2,946 CAD |
PROPERTY TAXES
Parcel Number
335200-041-000-0001-096.130-0000
Land Assessment
$2,946 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,946 CAD
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Eric Carlton -
Jereme Snyder -
Kenneth Enos -
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Long Term Investment Grade- Rare NY Asset | Tractor Supply
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