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Tractor Supply | New, 15-Yr Lease | 5% Bumps 911 Griffin Ave 22,016 SF Retail Building Enumclaw, WA 98022 $9,260,000 ($420.60/SF) 5.50% Cap Rate
Investment Highlights
- Brand New, 15-Year Lease | 5% Rent Increases every 5 Years | Corporate Signature (Nasdaq: TSCO)
- Strategic Enumclaw Location
- NN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased Tractor Supply Co. (Nasdaq: TSCO) investment property located in Enumclaw, Washington. The corporate entity recently signed a 15-year lease with options to extend at close of escrow. The lease features 5% scheduled rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Tractor Supply Company has more than 2,400 locations across the U.S. and maintains strong financial performance with a national average unit volume of approximately $6.5MM.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
22,016 SF
Year Built
2015
Price
$9,260,000
Price Per SF
$420.60
Cap Rate
5.50%
NOI
$509,308
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
2.26 AC
Zoning
HCB - Highway and Community Business
Parking
56 Spaces (2.54 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Monument Signage
Walk Score®
Very Walkable (83)
Nearby Major Retailers
Property Taxes
| Parcel Number | 712730-0005 | Improvements Assessment | $2,692,700 |
| Land Assessment | $1,526,500 | Total Assessment | $4,219,200 |
Property Taxes
Parcel Number
712730-0005
Land Assessment
$1,526,500
Improvements Assessment
$2,692,700
Total Assessment
$4,219,200
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Tractor Supply | New, 15-Yr Lease | 5% Bumps | 911 Griffin Ave
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