Tractor Supply Company

61 Tower Drive, Middletown, NY 10941

$6,075,000

Cap Rate 6.00%

Views: 176 DOM: 689 Updated: 10.21.24 Posted: 02.10.23 Status: Active

Summary

Price $6,075,000	Built/Renov 2016	Tenant Tractor Supply Company
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 19,097	Lease Start 02-18-2017	#Units 2,414
Price/SF $318.11	Expiration 02-29-2032	Tenant Type General Retail
NOI $364,492	R. Term 7.2	Ownership Fee Simple
Rent/SF $19.09	Increases 10.0%/4/yrs	Pop 5Mi 67,771
Lot/AC 4.27	Options 4/5yrs/10%	AHHI 5Mi $104,255

Lease Highlights

Tractor Supply has been operating in this location since 2017
The tenant has 7+ years remaining on its current term with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years and at the beginning of each option
Corporate guarantee by Tractor Supply Company (NASDAQ: TSCO)
Investment grade tenant (S&P: BBB)

Location Description

Tractor Supply property, located in Middletown, NY, is strategically located along Tower Drive and adjacent to State Route 211 which sees more than 32,000 vehicles per day. The site comprises a 19,097 SF building on a 4.27-acre lot and is positioned near the intersection of State Route 17 and Interstate 84 across from Hannaford (supermarket) and near the recently constructed Residence Inn, La...

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Key Features

Near major nationals
Big Box center
Freeway close
Highway close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Tractor Supply Wikipedia Tractor Supply Co. Wikipedia Middletown, New York Zip Code 10941 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 :	6,319	41,843	70,135
2023 Total Population :	6,015	40,975	69,038
2023 Employed Civilian Pop :	3,412	20,147	33,517
2023 Total Businesses :	502	1,989	3,070
2023 Average Household Income :	$ 107,679	$ 103,972	$ 104,564
2023 Total Consumer Spending :	$ 205 M	$ 1353 M	$ 2280 M
2023 Median Age :	38	38	39
2023 Total Households :	2,218	15,099	25,433
2023 Pop Age 25+: Bachelor's Degree :	885	4,590	8,145
2023 Average Home Value :	$ 381,053	$ 330,415	$ 354,752

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Highway 211		2018	23,134	0.28 mi
	Metro Way	2021	2,295	0.44 mi
State Highway 211	Commercial Ave	2021	21,733	0.48 mi
	Wickham Ave	2021	3,650	0.49 mi
	Dunning Rd	2021	5,784	0.49 mi
Blumel Rd	Laddie Rd	2008	4,968	0.50 mi
I 787	Wickham Ave	2018	5,861	0.51 mi
	I- 86	2021	14,200	0.52 mi
	Milo Dr	2021	728	0.54 mi
	State Rte 211	2021	1,947	0.57 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
24402 Views
59 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
26256 Views
63 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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