45 Farm Ln
Ionia, MI 48846
Tractor Supply | Ionia, MI · Retail Property For Sale

Rare, Absolute NNN Lease – Tenant is responsible for taxes, utilities, HVAC, roof, structure, and parking lot. Most Tractor Supply leases obligate the landlord to be responsible for roof, structure, and parking lot, which makes the subject property’s lease structure exceptionally valuable. Commitment to Location - After 10 years of occupancy, Tractor supply demonstrated strong commitment and confidence in this location by extending the lease term an additional 10 years. As a result, there is still over 11 years remaining of guaranteed term on the lease. Heavy Retail Corridor – Located next to other major retailers such as Walmart, Menards, Meijer, and ALDI, among others. Tractor Supply has strong frontage and visibility to S State Rd which boasts ±36,800 VPD Strong Fortune 500 Tenant – Tractor Supply is a Fortune 500 Company with a market cap of ±$10.8B and a solid increase in revenue over the past decade. In 2018, the total revenue was ±$8B, an increase of 9% from 2017. Debt Free Company – Tractor Supply is an incredibly healthy company with zero debt. For example, their Net Income for 2018 was ±$532MM, a 26% increase from 2017. E-Commerce Proof – As e-commerce continues to grow, Tractor Supply continues to thrive as 70% of online orders are fulfilled in-store. This remains an encouraging development as the company continues to invest in its brick-and-mortar properties and digital presence to further capture market share in rural communities. Corporate Guaranty with Rent Increases - The 15-year lease is corporately backed by Tractor Supply Company and is subject to a 2% rent increase in 2021 and 5% increases in each option period.