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Views: 114 DOM: 148 Updated: 10.18.24 Posted: 06.26.24 Status: Active

Summary

Price $2,824,615
Built/Renov 2011
Tenant Herc Rentals
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 31,210
Lease Start 11-01-2023
#Units 410
Price/SF $90.50
Expiration 10-31-2033
Tenant Type General Retail
NOI $183,600
R. Term 8.11
Ownership Fee Simple
Rent/SF $5.88
Increases 2.0%/1/yrs
Pop 5Mi 520,298
Lot/AC 7.00
Options 3/5yrs/2%
AHHI 5Mi $121,021

Lease Highlights

  • Herc Rentals has 9 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease (NYSE: HRI)

Location Description

Herc Rentals is strategically located at the signalized, hard corner intersection of E Goforth Road and Fritz Swanson Road, with access to a combined daily traffic count of 2,528 vehicles. The property enjoys exceptional frontage, visibility, and access, with four points of entry along both roads. Additionally, it is conveniently situated 0.5 miles from State Highway 135, the area's primary...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Herc Rentals
  • Guarantor:Corp T and Rated
  • Company:Herc Holdings Inc
  • # Units:410
  • Tenant S&P: BB
  • Moody’s: Ba2
  • Stock: NYSE: HRI

About Tenant

Founded in 1965, Herc Rentals is a leading equipment rental company that provides a broad range of products and services to various industries, including construction, industrial, government, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 758 8,821 22,114
2024 Total Population : 775 8,880 22,133
2024 Employed Civilian Pop : 310 3,617 9,846
2024 Total Businesses : 32 659 1,047
2024 Average Household Income : $ 72,980 $ 71,307 $ 85,553
2024 Total Consumer Spending : $ 17 M $ 201 M $ 618 M
2024 Median Age : 37 34 37
2024 Total Households : 278 3,130 8,112
2024 Pop Age 25+: Bachelor's Degree : 63 501 1,878
2024 Average Home Value : $ 362,864 $ 227,880 $ 241,369
*ESRI data is presented for informational purposes only

Listing Broker

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