Tractor Supply Co. | Rare NNN Lease | 9% CAP
|Total Building:||39,557 SF|
|On the market for:||1549 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
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.
|Cap Rate:||9.0 %|