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Views: 59 Updated: 12.04.23 Posted: 07.20.23 Status: Inactive

Summary

Price $1,246,667
Built/Renov 1973
Tenant American Freight
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 18,900
Lease Start 12-09-2020
#Units 371
Price/SF $65.96
Expiration 12-09-2025
Tenant Type General Retail
NOI $93,500
R. Term 1.5
Ownership Fee Simple
Rent/SF $4.95
Increases 4.8%/2/yrs
Pop 5Mi 69,356
Lot/AC 1.96
Options 3/5yrs/4.76%
AHHI 5Mi $83,305

Lease Highlights

  • New roof installed in 2021 with a 16-year warranty
  • Tenant has 2+ years remaining on their primary lease with 3 (5-year) renewal options
  • Lease features 4.76% rental increases at the start of each option period
  • Corporate guaranteed lease

Location Description

American Freight is positioned at the hard corner, signalized intersection along Milton Ave with access to 26,000 vehicles passing per day. The property is in a retail corridor with Big Lots, CVS, Kohl’s, Walgreens, Target, Walmart, Sam’s Club, ALDI and many other national retail tenants. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: American Freight
  • Guarantor:Corp Rated
  • Company:Franchise Group Inc.
  • # Units:371
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

American Freight is an American retail company that sells furniture, mattresses and home appliances. The company sells brand name products and appliances from Frigidaire, Electrolux, GE, LG,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,154 51,978 69,309
2023 Total Population : 8,304 52,064 69,596
2023 Employed Civilian Pop : 4,117 25,667 34,067
2023 Total Businesses : 469 2,085 2,509
2023 Average Household Income : $ 70,100 $ 82,675 $ 84,817
2023 Total Consumer Spending : $ 232 M $ 1579 M $ 2131 M
2023 Median Age : 42 40 40
2023 Total Households : 3,778 21,974 28,897
2023 Pop Age 25+: Bachelor's Degree : 986 7,510 9,795
2023 Average Home Value : $ 181,886 $ 235,645 $ 241,031
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Randolph Rd Milton Ave 2019 5,100 0.05 mi
N Randall Ave Black Bridge Rd 2019 5,900 0.06 mi
Milton Ave Randolph Rd 2016 26,300 0.08 mi
Milton Avenue Kennedy Rd 2019 25,000 0.09 mi
Kennedy Rd Norwood Rd 2019 4,500 0.12 mi
Milton Avenue Newman St 2019 22,600 0.28 mi
Milton Avenue Refset Dr 2019 24,700 0.31 mi
Milton Ave Refset Dr 2013 24,900 0.31 mi
Milton Ave Creston PkDr 2016 20,600 0.38 mi
N Randall Ave Mount Zion Ave 2019 5,400 0.39 mi

Listing Broker

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