Tractor Supply Company

717 East Lake Shore Drive, Manistique, MI 49854

$2,215,385

Cap Rate 6.50%

Views: 123 DOM: 393 Updated: 10.31.24 Posted: 11.29.23 Status: Active

Summary

Price $2,215,385	Built/Renov 2000/2020	Tenant Tractor Supply Company
Cap Rate 6.50%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 35,299	Lease Start 05-15-2020	#Units 2,414
Price/SF $62.76	Expiration 04-30-2030	Tenant Type General Retail
NOI $144,000	R. Term 5.4	Ownership Fee Simple
Rent/SF $4.08	Increases 5.0%/2/yrs	Pop 5Mi 4,588
Lot/AC 3.93	Options 4/5yrs/5%	AHHI 5Mi $68,239

Lease Highlights

Tractor Supply has 5+ years remaining on the current lease term with 4 (5-year) options
Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
Corporate guaranteed lease (NASDAQ: TSCO)
Investment grade tenant (S&P: BBB)

Location Description

Tractor Supply Company is strategically located on E Lakeshore Drive, with access to 6,574 vehicles passing by daily. The immediate area is surrounded by well-known national retailers such as Family Dollar, Ace Hardware, NAPA, Hardees, Dollar General and more. Moreover, the Ford Dealership is conveniently situated in the vicinity of the property. In addition, the Manistique Area School, with...

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Key Features

Recent renovation
Near major nationals
Strategically located
Strong tenant synergy
Limited competition
Traded and rated company
Over 2000 units backed
Corporate Guarantee

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Links

Tractor Supply Company Wikipedia Tractor Supply Company Wikipedia Manistique, Michigan Zip Code 49854 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Tractor Supply Company
Guarantor:Corp T and Rated
Company:Tractor Supply Company
# Units:2,414
Tenant S&P: BBB
Moody’s: Baa1
Stock: NASDAQ: TSCO

About Tenant

Tractor Supply Company (also known as TSCO or TSC), founded in 1938, is an American retail chain of stores that sells products for home improvement, agriculture, lawn and garden maintenance,...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,309	3,161	4,323
2023 Total Population :	1,329	3,206	4,385
2023 Employed Civilian Pop :	567	1,399	1,867
2023 Total Businesses :	156	254	285
2023 Average Household Income :	$ 61,476	$ 68,271	$ 72,672
2023 Total Consumer Spending :	$ 35 M	$ 91 M	$ 131 M
2023 Median Age :	44	45	49
2023 Total Households :	642	1,501	2,015
2023 Pop Age 25+: Bachelor's Degree :	118	228	362
2023 Average Home Value :	$ 138,630	$ 141,938	$ 173,622

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Lakeshore Dr	E Lake Shore Dr	2015	5,700	0.11 mi
Cattaraugus Street	Wilson St	2022	299	0.65 mi
S Maple St	Oak St	2015	3,200	0.72 mi
South Maple Street	Walnut St	2022	2,384	0.80 mi
West Lakeshore Drive	Stoney Pointe Dr	2022	6,818	0.98 mi
US 2	US Hwy 2	2021	6,978	0.98 mi
	W Lakeshore Dr	2022	6,423	1.00 mi
River Street	N Cedar St	2022	4,560	1.00 mi
Tannery Road	East Rd	2022	1,170	1.15 mi
Chippewa Avenue	Harbor View Dr	2022	2,497	1.29 mi

Listing Broker

Daniel Kukes

Landmark

Contact

17 Listings
3330 Views
3 Sold

Max Lippitt

Landmark

Contact

18 Listings
3498 Views
3 Sold

Daniel Kukes

Daniel Kukes is a Partner of Landmark Commercial Real Estate Services, LLC and a Co-Founder and Partner of the Landmark Investment Sales Team. Daniel specializes in the sale of retail shopping centers and single tenant net lease investment properties of all property types across the country. He currently represents some of the nation’s largest institutional funds, private equity funds, and high net worth investors in listing investment properties nationwide. Since 2010, Daniel has closed dea

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Max Lippitt

Maxwell Lippitt graduated from Michigan State University in 2016 with a Bachelor of Science degree in Economics. During College, Max was an intern in Landmark’s Investment Sales department. Upon graduating, Max became an associate broker at CBRE specializing in the disposition of single tenant medical, retail, and office properties. While at CBRE, Max researched, sourced, and tracked thousands of investment properties while building strong relationships with a wide variety of property owners al

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