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Views: 152 DOM: 369 Updated: 10.31.24 Posted: 11.29.23 Status: Active

Summary

Price $2,215,385
Built/Renov 2000/2020
Tenant Tractor Supply Company
Cap Rate 6.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 34,886
Lease Start 05-15-2020
#Units 2,414
Price/SF $63.50
Expiration 04-30-2030
Tenant Type General Retail
NOI $144,000
R. Term 5.5
Ownership Fee Simple
Rent/SF $4.13
Increases 5.0%/2/yrs
Pop 5Mi 10,397
Lot/AC 3.71
Options 4/5yrs/5%
AHHI 5Mi $74,602

Lease Highlights

  • Tractor Supply has 5+ years remaining on the current lease term with 4 (5-year) options
  • Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
  • Corporate guaranteed lease (NASDAQ: TSCO)
  • Investment grade tenant (S&P: BBB)

Location Description

Tractor Supply Company is strategically located on W Pine Lake Drive, with access to 6,522 vehicles passing by daily. The immediate area is surrounded by well-known national retailers such as Subway, O’Reilly’s, Wendy’s, Auto Zone, Family Dollar, Ace Harware and more. Moreover, the Newaygo public school district, with an enrollment of 1,545 students, is in close proximity to the site. The...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Tractor Supply Company (also known as TSCO or TSC), founded in 1938, is an American retail chain of stores that sells products for home improvement, agriculture, lawn and garden maintenance,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,609 6,437 10,527
2023 Total Population : 2,547 6,352 10,492
2023 Employed Civilian Pop : 1,145 3,040 4,882
2023 Total Businesses : 180 242 328
2023 Average Household Income : $ 80,472 $ 90,039 $ 88,083
2023 Total Consumer Spending : $ 69 M $ 198 M $ 318 M
2023 Median Age : 37 40 41
2023 Total Households : 988 2,487 4,098
2023 Pop Age 25+: Bachelor's Degree : 120 481 907
2023 Average Home Value : $ 206,801 $ 223,964 $ 232,705
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
82nd Street Evergreen St 2022 6,385 0.19 mi
82nd St State St 2019 6,378 0.26 mi
Mason Drive Cooperative Center Dr 2022 12,703 0.35 mi
M 37;M 82 Frederick St 2021 12,502 0.35 mi
State Highway 37 Frederick St 2022 11,257 0.36 mi
Linden Ave Sunset Dr 2005 1,051 0.42 mi
Mason Dr E 88th St 2015 12,600 0.68 mi
E 88th St Mason Dr 2005 1,763 0.82 mi
East 88th Street Mason Dr 2022 1,686 0.84 mi
State Road Water St 2022 13,369 1.10 mi

Listing Broker

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