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Miscellaneous

Harbor Freight Tools | 2021 Build | Greenville MSA

816 Saco Lowell Rd, Easley, SC 29640

Listing Price: $4,006,364

Cap Rate
5.50%
Tenant Name
Harbor Freight Tools USA, Inc.
Years Remaining On Lease
9.7
Gross SF
15,000
Guarantor
Corporate Guarantee
Rentable SF
15,000
Price/Gross SF
$267.09
Lease Type
Double Net
Rent Per Square Feet
$14.69

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 15,000 square-feet, fully leased to Harbor Freight Tools with a corporate guarantee. The subject property rests on approximately 2.11 acres, and features high-quality construction with upgraded brick exterior on all sides of the building. Harbor Freight Tools USA, Inc., is on a long-term NN lease with approximately 9.8 years of term remaining and five, 5-year options to renew with 10% rent escalations occurring each period. Located in a dense retail corridor, the property is directly adjacent to a Walmart Supercenter, Marshalls, Kohl’s, Sam’s Club, Tractor Supply Co, & numerous other national retailers. Additionally, the subject property is situated on a hard corner lot with excellent visibility as the combined traffic count is over 56,000+ VPD. The upstate region of South Carolina is located in the northwesternmost portion of the state. It is also known as the Greenville-Spartanburg-Anderson combined statistical area, consisting of 10 counties: Anderson, Greenville, Laurens, Pickens, Spartanburg, Union, Cherokee, Abbeville, Greenwood and Oconee. The area is home to 1.5 million residents. Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms. The county seat and most populous city is Greenville, with roughly 70,000 residents. Additional portions of the metro are known for manufacturing and a variety of other industries.

Investment Highlights

  • New 2021 Build | 100% Occupied by Harbor Freight Tools | Corporate Guarantee
  • Original NN Lease | Five, 5-Year Options to Renew Each with 10% Rent Increases | 9.8 Years of Term Remaining
  • Upgraded Brick Construction | No Deferred Maintenance or CapEx Needed | Minimal Landlord Responsibilities
  • Hard Corner Lot on Saco Lowell Rd & Just Off of Calhoun Memorial | Combined Traffic Count of 56,000+ VPD
  • Household Income is $82,808 within a 3-Mile Radius | Located Less than 15 Minutes from Downtown Greenville, SC
  • Located in Dense Retail Corridor | Directly Adjacent to Walmart Supercenter, Sam's Club, Marshall's, & Many More | Tenant has Right of First Refusal

Exclusively Listed By

Miscellaneous

Harbor Freight Tools | 2021 Build | Greenville MSA

Listing Price: $4,006,364

Cap Rate
5.50%
Tenant Name
Harbor Freight Tools USA, Inc.
Years Remaining On Lease
9.7
Gross SF
15,000
Guarantor
Corporate Guarantee
Rentable SF
15,000
Price/Gross SF
$267.09
Lease Type
Double Net
Rent Per Square Feet
$14.69

Investment Highlights

  • New 2021 Build | 100% Occupied by Harbor Freight Tools | Corporate Guarantee
  • Original NN Lease | Five, 5-Year Options to Renew Each with 10% Rent Increases | 9.8 Years of Term Remaining
  • Upgraded Brick Construction | No Deferred Maintenance or CapEx Needed | Minimal Landlord Responsibilities
  • Hard Corner Lot on Saco Lowell Rd & Just Off of Calhoun Memorial | Combined Traffic Count of 56,000+ VPD
  • Household Income is $82,808 within a 3-Mile Radius | Located Less than 15 Minutes from Downtown Greenville, SC
  • Located in Dense Retail Corridor | Directly Adjacent to Walmart Supercenter, Sam's Club, Marshall's, & Many More | 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 15,000 square-feet, fully leased to Harbor Freight Tools with a corporate guarantee. The subject property rests on approximately 2.11 acres, and features high-quality construction with upgraded brick exterior on all sides of the building. Harbor Freight Tools USA, Inc., is on a long-term NN lease with approximately 9.8 years of term remaining and five, 5-year options to renew with 10% rent escalations occurring each period. Located in a dense retail corridor, the property is directly adjacent to a Walmart Supercenter, Marshalls, Kohl’s, Sam’s Club, Tractor Supply Co, & numerous other national retailers. Additionally, the subject property is situated on a hard corner lot with excellent visibility as the combined traffic count is over 56,000+ VPD. The upstate region of South Carolina is located in the northwesternmost portion of the state. It is also known as the Greenville-Spartanburg-Anderson combined statistical area, consisting of 10 counties: Anderson, Greenville, Laurens, Pickens, Spartanburg, Union, Cherokee, Abbeville, Greenwood and Oconee. The area is home to 1.5 million residents. Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms. The county seat and most populous city is Greenville, with roughly 70,000 residents. Additional portions of the metro are known for manufacturing and a variety of other industries.

Exclusively Listed By

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