Harbor Freight

1742 North Richmond Road, McHenry, IL 60051

$2,305,630

Cap Rate 6.50%

Views: 96 DOM: 303 Updated: 07.26.24 Posted: 11.18.23 Status: Active

Summary

Price $2,305,630	Built/Renov 1997	Tenant Harbor Freight
Cap Rate 6.50%	Lease Type Double NN	Guarantor Corp Rated
Size/SF 15,563	Lease Start 11-15-2023	#Units 1,500
Price/SF $148.15	Expiration 11-30-2033	Tenant Type General Retail
NOI $149,866	R. Term 9.2	Ownership Fee Simple
Rent/SF $9.63	Increases 10.0%/5/yrs	Pop 5Mi 63,615
Lot/AC 1.29	Options 3/5yrs/10%	AHHI 5Mi $111,685

Isaiah Harf

Northmarq

Contact

Lease Highlights

Harbor Freight recently signed a brand new 10-year lease with 3 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
High residual value with replaceable rent | $10 rent PSF
Corporate guaranteed lease

Location Description

Harbor Freight is strategically located within a prime retail corridor along N Richmond Road, with access to 22,200 vehicles passing by daily. The property is conveniently situated in proximity to major national retailers, including The Home Depot, Meijer, Kohl’s, and more. Additionally, it serves as an outparcel to McHenry Plaza, a community shopping center anchored by notable establishments...

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Key Features

Dense retail corridor
Near major nationals
Strategically located
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Brand new lease
Long 10+ yr lease
Corporate Guarantee
Over 1000 units backed

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Links

Harbor Freight Tools Wikipedia Harbor Freight Tools Wikipedia McHenry, Illinois Zip Code 60051 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Harbor Freight
Guarantor:Corp Rated
Company:Harbor Freight Tools USA, Inc.
# Units:1,500
Tenant S&P: BB-
Moody’s: B1
Stock:Private

About Tenant

Harbor Freight Tools (aka Harbor Freight) is a privately held tool and equipment retailer, which operates a chain of stores, as well as an e-commerce business. The chain offers more than 7,000...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,754	36,450	67,208
2023 Total Population :	7,337	34,980	63,615
2023 Employed Civilian Pop :	4,080	18,805	34,880
2023 Total Businesses :	495	1,271	1,953
2023 Average Household Income :	$ 108,710	$ 108,939	$ 111,685
2023 Total Consumer Spending :	$ 288 M	$ 1302 M	$ 2406 M
2023 Median Age :	39	41	41
2023 Total Households :	3,101	13,984	25,180
2023 Pop Age 25+: Bachelor's Degree :	1,184	5,399	10,247
2023 Average Home Value :	$ 269,140	$ 264,941	$ 271,892

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Richmond Rd	Washington St	2007	24,200	0.11 mi
N Richmond Rd	Washington St	2009	16,600	0.13 mi
N Richmond Rd	Maple Ave	2013	23,500	0.15 mi
N Richmond Rd	McCullom Lake Rd	2009	16,600	0.15 mi
Richmond Rd	Grand Ave	2007	24,200	0.22 mi
Maple Ave	Freund Ave	2013	2,200	0.26 mi
Pearl St	Green St	2009	5,900	0.27 mi
Green St	Pearl St	2013	6,050	0.30 mi
N Riverside Dr	Washington St	2009	5,800	0.30 mi
Richmond Rd	Pearl St	2013	23,500	0.31 mi

Listing Broker

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