Tractor Supply | NNN Lease | 9+ Years Remaining | Houston MSA
Price: $6,742,000
Status: Sold
Cap Rate: Confidential%
Year Built: 2015
NOI: $
Lot Size: 4.98 acres
Price Per Foot: $298
Lease Type: Triple-Net (NNN)
Remaining Term: 9+
GLA: 22,622 sqft
Property Intro
Lee & Associates, in conjunction with Texas Licensed Real Estate Broker Bang Realty-Texas, Inc., is pleased to exclusively offer the opportunity to acquire the fee simple interest (land & building) in a Tractor Supply investment property located in Tomball, TX (the “Property”). Constructed as a build to suit in 2005, the Property consists of a 22,622-square-foot retail building situated on a 4.98-acre parcel.
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, targeting the needs of recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years. Tractor Supply offers an extensive mix of products necessary to care for home, land, pets and animals with a focus on product localization, exclusive brands and legendary customer service for the Out Here lifestyle. Tractor Supply had revenues of $10.62B in 2020.
This Tractor Supply Co property has 9+ years remaining on its recently extended 10-year absolute triple-net (NNN) lease. The lease features substantial rent increases every 5 years in the Primary Term as well as the (3) 5-year renewal options. The rare absolute triple-net (NNN) lease structure provides for zero Landlord maintenance responsibilities on the asset, providing an investor with a passive income stream backed by a strong tenant.