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This Listing is: Expired

Tractor Supply Co. | Rare NNN Lease | 9% CAP

6360 B Drive North Battle Creek, MI 49015
No Photos
No photos available
 
Sale Price: $1,800,000
Property Type: Retail 
Available Space:
0.0 SF
Total Building: 39,557 SF
Cap Rate: 9.0 
On the market for: 1358 days
MTB Listing ID: COM18040
 
  • Scheduled Increases in Rent
  • Strong Credit with Lease Backed by Tractor Supply Co.
  • Significnat Upside Potential
  • Established Location Across from Meijer's

Description

The property is subject to a net lease with Tractor Supply Company. Tractor SupplyCompany executed a new 15 year net lease in 2002. There are approximately 7 years remaining on the lease.Additionally an investor will benefit form significant upside potential by leasing out the balance of 17,000 +/- square feet at a conservative rent of $3.00 a square foot annually. The seller will guarantee the CAM charges for until next Tractor Supply Company rental increase in 2012. The seller is not capitalizing the pro-forma rent which would increase the capitalization rate to 11%+.

The property sits across from a Meijer Hyper Supermarket.Battle Creek is a city is in northwest Calhoun County, at the confluence of theKalamazoo and Battle Creek Rivers. It is the principal city of the Battle Creek, Michigan Metropolitan Statistical Area, which encompasses all of Calhoun county. As of the 2000 census, the city had a total population of 53,364.

Property Details

Cap Rate: 9.0 %

Building Details

Not provided

Tax Details

Not provided

Cost Details

Not provided