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Miscellaneous

Harbor Freight Tools | New 2021 Build

1518 Tallahassee Hwy, Bainbridge, GA 39819

Listing Price: $3,256,000

Cap Rate
5.75%
Tenant Name
Harbor Freight Tools USA, Inc.
Years Remaining On Lease
9.1
Gross SF
15,500
Guarantor
Corporate Guarantee
Rentable SF
15,500
Price/Gross SF
$210.06
Lease Type
Double Net
Rent Per Square Feet
$12.08

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the newly constructed build-to-suit for Harbor Freight Tools. The freestanding retail building was completed in 2021 and totals 15,500 square-feet, fully leased to Harbor Freight Tools with a corporate guarantee. The subject property rests on approximately 1.87 acres, and features upgraded brick construction on all visible sides of the building and is positioned to have excellent visibility via Tallahassee Road (7,790+ VPD). The tenant is on a long-term NN lease with approximately 9.25 years of term remaining and five, 5-year options to renew with 10% rent escalations occurring each period. While sitting directly adjacent to Tractor Supply Co, the subject property is primely located in a dense retail corridor, immediately surrounded by other national retailers including Home Depot, Chick-Fil-A, Walmart Super Center, Tractor Supply Co, Popeyes, O’Reilly Auto Parts, & many more. In 2009, the Georgia State Legislature declared Bainbridge the “Bass Capitol of Georgia.” The Flint River and Lake Seminole offer abundant fishing and water sports. Both attract thousands of amateur and professional fishermen, and many top bass tournaments are held throughout the year. Located less than 38 miles from Tallahassee, Florida, Bainbridge is also home to the Taurus Firearms manufacturing facility, which recently relocated from Miami, FL bringing along 300+ new jobs to the community.

Investment Highlights

  • New 2021 Construction | 100% Occupied by Harbor Freight Tools | Corporate Guarantee
  • NN Lease | Five, 5-Year Options to Renew Each with 10% Rent Increases | 9.25 Years of Term Remaining
  • Upgraded 3-Sided Brick Construction | No Deferred Maintenance or CapEx Needed | Minimal Landlord Responsibilities
  • Located in Dense Retail Corridor | Just Off of I-85 (19,000+ VPD)
  • Other National Retailers in Immediate Surrounding Area Include Home Depot, Chick-Fil-A, Walmart Super Center, & More
  • Household Income is $62,700 within a 1-Mile Radius | Located Less than 38 Miles from Tallahassee, Florida
  • Firearms Manufacturer, Taurus, Relocated to Bainbridge, GA Creating Over 300+ Jobs for the Community
  • Tenant has Right of First Refusal

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Miscellaneous

Harbor Freight Tools | New 2021 Build

Listing Price: $3,256,000

Cap Rate
5.75%
Tenant Name
Harbor Freight Tools USA, Inc.
Years Remaining On Lease
9.1
Gross SF
15,500
Guarantor
Corporate Guarantee
Rentable SF
15,500
Price/Gross SF
$210.06
Lease Type
Double Net
Rent Per Square Feet
$12.08

Investment Highlights

  • New 2021 Construction | 100% Occupied by Harbor Freight Tools | Corporate Guarantee
  • NN Lease | Five, 5-Year Options to Renew Each with 10% Rent Increases | 9.25 Years of Term Remaining
  • Upgraded 3-Sided Brick Construction | No Deferred Maintenance or CapEx Needed | Minimal Landlord Responsibilities
  • Located in Dense Retail Corridor | Just Off of I-85 (19,000+ VPD)
  • Other National Retailers in Immediate Surrounding Area Include Home Depot, Chick-Fil-A, Walmart Super Center, & More
  • Household Income is $62,700 within a 1-Mile Radius | Located Less than 38 Miles from Tallahassee, Florida
  • Firearms Manufacturer, Taurus, Relocated to Bainbridge, GA Creating Over 300+ Jobs for the Community
  • Tenant has Right of First Refusal

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the newly constructed build-to-suit for Harbor Freight Tools. The freestanding retail building was completed in 2021 and totals 15,500 square-feet, fully leased to Harbor Freight Tools with a corporate guarantee. The subject property rests on approximately 1.87 acres, and features upgraded brick construction on all visible sides of the building and is positioned to have excellent visibility via Tallahassee Road (7,790+ VPD). The tenant is on a long-term NN lease with approximately 9.25 years of term remaining and five, 5-year options to renew with 10% rent escalations occurring each period. While sitting directly adjacent to Tractor Supply Co, the subject property is primely located in a dense retail corridor, immediately surrounded by other national retailers including Home Depot, Chick-Fil-A, Walmart Super Center, Tractor Supply Co, Popeyes, O’Reilly Auto Parts, & many more. In 2009, the Georgia State Legislature declared Bainbridge the “Bass Capitol of Georgia.” The Flint River and Lake Seminole offer abundant fishing and water sports. Both attract thousands of amateur and professional fishermen, and many top bass tournaments are held throughout the year. Located less than 38 miles from Tallahassee, Florida, Bainbridge is also home to the Taurus Firearms manufacturing facility, which recently relocated from Miami, FL bringing along 300+ new jobs to the community.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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