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Views: 156 DOM: 571 Updated: 07.26.24 Posted: 04.23.23 Status: Active

Summary

Price $1,914,815
Built/Renov 1997
Tenant Harbor Freight
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 23,500
Lease Start 07-01-2021
#Units 1,500
Price/SF $81.48
Expiration 06-30-2031
Tenant Type General Retail
NOI $129,250
R. Term 6.7
Ownership Fee Simple
Rent/SF $5.50
Increases 10.0%/3/yrs
Pop 5Mi 33,295
Lot/AC 1.56
Options 3/5yrs/10%
AHHI 5Mi $64,476

Lease Highlights

  • Tenant has over 8 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and each option period
  • High residual value with replacement rent
  • Corporate guarantee by Harbor Freight Tools USA, Inc.

Location Description

Harbor Freight is strategically located along North Vermilion Street which sees 17,299 vehicles per day. The site is out-parcel to a Big R anchored shopping plaza. Located within a dense retail corridor, other nearby major national tenants include Red Lobster, Ross, Buffalo Wild Wings, County Market, Bath & Body Works, Dollar General, Culver’s, Dunkin’, Arby’s, McDonald’s and many more....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 2,877 17,482 32,100
2023 Total Population : 2,997 18,129 33,190
2023 Employed Civilian Pop : 1,346 7,509 12,710
2023 Total Businesses : 221 684 1,365
2023 Average Household Income : $ 76,787 $ 69,379 $ 62,916
2023 Total Consumer Spending : $ 102 M $ 490 M $ 782 M
2023 Median Age : 56 45 41
2023 Total Households : 1,529 8,065 14,131
2023 Pop Age 25+: Bachelor's Degree : 414 2,110 2,800
2023 Average Home Value : $ 174,347 $ 142,359 $ 127,507
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Vermilion St W Liberty Ln 2005 21,800 0.11 mi
US 136;IL 1 Thornhill Dr 2021 21,100 0.12 mi
E Liberty Ln Freedom Ct 2003 7,300 0.19 mi
Townway Rd E Liberty Ln 2003 2,550 0.25 mi
E Liberty Ln Ferndale Ave 2003 8,500 0.31 mi
US 136;IL 1 Lake Shore Dr 2021 20,500 0.34 mi
E Liberty Ln Liberty LnRd 2003 4,500 0.35 mi
Thornhill Drive N Vermilion St 2019 300 0.36 mi
Townway Rd Countryway St 2003 2,550 0.42 mi
North Vermilion Street Poland Rd 2019 18,100 0.43 mi

Listing Broker

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