Tractor Supply Company

91 West Pine Lake Drive, Newaygo, MI 49337

$2,215,385

Cap Rate 6.50%

Views: 157 DOM: 389 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 34,886	Lease Start 05-15-2020	#Units 2,414
Price/SF $63.50	Expiration 04-30-2030	Tenant Type General Retail
NOI $144,000	R. Term 5.4	Ownership Fee Simple
Rent/SF $4.13	Increases 5.0%/2/yrs	Pop 5Mi 10,397
Lot/AC 3.71	Options 4/5yrs/5%	AHHI 5Mi $74,602

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 W Pine Lake Drive, with access to 6,522 vehicles passing by daily. The immediate area is surrounded by well-known national retailers such as Subway, O’Reilly’s, Wendy’s, Auto Zone, Family Dollar, Ace Harware and more. Moreover, the Newaygo public school district, with an enrollment of 1,545 students, is in close proximity to the site. The...

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Key Features

Recent renovation
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Traded and rated company
Over 2000 units backed
Corporate Guarantee
Investment grade tenant

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Links

Tractor Supply Company Wikipedia Tractor Supply Company Wikipedia Newaygo, Michigan Zip Code 49337 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 :	2,609	6,437	10,527
2023 Total Population :	2,547	6,352	10,492
2023 Employed Civilian Pop :	1,145	3,040	4,882
2023 Total Businesses :	180	242	328
2023 Average Household Income :	$ 80,472	$ 90,039	$ 88,083
2023 Total Consumer Spending :	$ 69 M	$ 198 M	$ 318 M
2023 Median Age :	37	40	41
2023 Total Households :	988	2,487	4,098
2023 Pop Age 25+: Bachelor's Degree :	120	481	907
2023 Average Home Value :	$ 206,801	$ 223,964	$ 232,705

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
82nd Street	Evergreen St	2022	6,385	0.19 mi
82nd St	State St	2019	6,378	0.26 mi
Mason Drive	Cooperative Center Dr	2022	12,703	0.35 mi
M 37;M 82	Frederick St	2021	12,502	0.35 mi
State Highway 37	Frederick St	2022	11,257	0.36 mi
Linden Ave	Sunset Dr	2005	1,051	0.42 mi
Mason Dr	E 88th St	2015	12,600	0.68 mi
E 88th St	Mason Dr	2005	1,763	0.82 mi
East 88th Street	Mason Dr	2022	1,686	0.84 mi
State Road	Water St	2022	13,369	1.10 mi

Listing Broker

Daniel Kukes

Landmark

Contact

17 Listings
3256 Views
3 Sold

Max Lippitt

Landmark

Contact

18 Listings
3418 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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