Skip to main content

Dry Good

Tractor Supply Co

480 N Mill St, Tehachapi, CA 93561

Listing Price: $6,300,000

Cap Rate
4.80%
Tenant Name
Tractor Supply Company
Years Remaining On Lease
6.6
Gross SF
19,031
Guarantor
Corporate Guarantee
Rentable SF
19,031
Price/Gross SF
$331.04
Lease Type
Double Net
Rent Per Square Feet
$15.90

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for the fee simple interest in an outstanding net leased Tractor Supply Company in the farming and agricultural community of Tehachapi, California. New build-to-suit construction in 2014, the initial term of the corporately guaranteed, 15-year lease expires in March of 2029 and features four, five-year options thereafter. The lease provides for 10% rental increases every five years in the initial term as well as the option periods. The next 10% rental increase is scheduled for April 2024. It is hard to overstate the strength and quality of an investment in the Tractor Supply Company brand. The investment grade credit tenant has experienced continuing growth and record sales achievements, conservatively overseen an exemplary balance sheet while maintaining minimal debt, and continuously makes improvements to an outstanding business model that efficiently and effectively accommodates ranchers and the daily needs of homeowners alike. The Subject Tractor Supply Co. is located 4,000 feet above sea level in the Tehachapi Mountains of California. Conveniently located with easy access to many larger markets, major transportation hubs and expanding industry.

Investment Highlights

  • Tractor Supply Company: Record Annual Sales in 2021 of $12B+
  • Superior Investment Grade Credit Tenant: Impeccable Financials and Minimal Debt
  • TSCO: NASDAQ & S&P 500 Company $12.69 Billion Market Cap
  • $21.69 Billion Market Cap 2,000+ Stores in 49 States
  • Corporately Guaranteed Lease With 10% Increases Every Five Years
  • Near Term 10% Rental Increase in April 2024
  • Adjacent to Highway 58 With 30,000 AADT
  • Record Sales in Fiscal Year 2021 Followed By Most Recent 2nd Quarter 2022

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s) CA: 01253407

    California

Dry Good

Tractor Supply Co

Listing Price: $6,300,000

Cap Rate
4.80%
Tenant Name
Tractor Supply Company
Years Remaining On Lease
6.6
Gross SF
19,031
Guarantor
Corporate Guarantee
Rentable SF
19,031
Price/Gross SF
$331.04
Lease Type
Double Net
Rent Per Square Feet
$15.90

Investment Highlights

  • Tractor Supply Company: Record Annual Sales in 2021 of $12B+
  • Superior Investment Grade Credit Tenant: Impeccable Financials and Minimal Debt
  • TSCO: NASDAQ & S&P 500 Company $12.69 Billion Market Cap
  • $21.69 Billion Market Cap 2,000+ Stores in 49 States
  • Corporately Guaranteed Lease With 10% Increases Every Five Years
  • Near Term 10% Rental Increase in April 2024
  • Adjacent to Highway 58 With 30,000 AADT
  • Record Sales in Fiscal Year 2021 Followed By Most Recent 2nd Quarter 2022

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for the fee simple interest in an outstanding net leased Tractor Supply Company in the farming and agricultural community of Tehachapi, California. New build-to-suit construction in 2014, the initial term of the corporately guaranteed, 15-year lease expires in March of 2029 and features four, five-year options thereafter. The lease provides for 10% rental increases every five years in the initial term as well as the option periods. The next 10% rental increase is scheduled for April 2024. It is hard to overstate the strength and quality of an investment in the Tractor Supply Company brand. The investment grade credit tenant has experienced continuing growth and record sales achievements, conservatively overseen an exemplary balance sheet while maintaining minimal debt, and continuously makes improvements to an outstanding business model that efficiently and effectively accommodates ranchers and the daily needs of homeowners alike. The Subject Tractor Supply Co. is located 4,000 feet above sea level in the Tehachapi Mountains of California. Conveniently located with easy access to many larger markets, major transportation hubs and expanding industry.

Exclusively Listed By

Broker of Record

  • Jim Markel

    First Vice President/Regional Manager

    (818) 212-2700

    License(s): CA: 01253407

    California

MM Texture Background
MM Textured Background Lower