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Dry Good

Northern Tool + Equipment | New 10-Year Lease | NNN | Highway-Exit Location | Cincinnati MSA

2310 Buttermilk Crossing, Crescent Springs, KY 41017

Listing Price: $4,360,000

Cap Rate
6.25%
Tenant Name
Northern Tool & Equipment Company
Years Remaining On Lease
9.8
Gross SF
24,768
Guarantor
No Guarantee
Rentable SF
24,768
Price/Gross SF
$176.03
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.00

Investment Overview

Marcus & Millichap is pleased to present for sale, Northern Tool + Equipment located in Crescent Springs, Kentucky. Northern Tool + Equipment is being offered for $4,360,000.

Investment Highlights

  • Freestanding Northern Tool 10-Year Triple-Net Lease in Crescent Springs, Kentucky (Cincinnati MSA)
  • Rent Just Commenced; Tenant Held Grand Opening on August 5th
  • Minimal Landlord Responsibility – Roof and Structure Only (New Roof Installed July 2023)
  • Highway Visible Store and Signage to 165,000 Vehicles per Day on I-71; Dedicated Pylon Sign Along/Above I-71 and Just off Exit Ramps at Buttermilk Pike
  • 10 Percent Rent Increase in 2028 and in Each Option
  • Shadow-Anchors the Highly-Occupied Buttermilk Crossing Shopping Center with Over $700,000 in Recent Improvements and Variety of Restaurants and Daily-Needs Retailers
  • Complete 2023 Renovation and Retrofit of Former 2004-Built Staples Box; Over $1.1 Million Invested by Seller in Renovations and Tenant Improvements
  • First of Several Northern Tool Commitments within Metro Cincinnati; Targeting Further Expansion Throughout the Midwest

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s) KY: 286261

    Kentucky

Financing By

Dry Good

Northern Tool + Equipment | New 10-Year Lease | NNN | Highway-Exit Location | Cincinnati MSA

Listing Price: $4,360,000

Cap Rate
6.25%
Tenant Name
Northern Tool & Equipment Company
Years Remaining On Lease
9.8
Gross SF
24,768
Guarantor
No Guarantee
Rentable SF
24,768
Price/Gross SF
$176.03
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$11.00

Investment Highlights

  • Freestanding Northern Tool 10-Year Triple-Net Lease in Crescent Springs, Kentucky (Cincinnati MSA)
  • Rent Just Commenced; Tenant Held Grand Opening on August 5th
  • Minimal Landlord Responsibility – Roof and Structure Only (New Roof Installed July 2023)
  • Highway Visible Store and Signage to 165,000 Vehicles per Day on I-71; Dedicated Pylon Sign Along/Above I-71 and Just off Exit Ramps at Buttermilk Pike
  • 10 Percent Rent Increase in 2028 and in Each Option
  • Shadow-Anchors the Highly-Occupied Buttermilk Crossing Shopping Center with Over $700,000 in Recent Improvements and Variety of Restaurants and Daily-Needs Retailers
  • Complete 2023 Renovation and Retrofit of Former 2004-Built Staples Box; Over $1.1 Million Invested by Seller in Renovations and Tenant Improvements
  • First of Several Northern Tool Commitments within Metro Cincinnati; Targeting Further Expansion Throughout the Midwest

Investment Overview

Marcus & Millichap is pleased to present for sale, Northern Tool + Equipment located in Crescent Springs, Kentucky. Northern Tool + Equipment is being offered for $4,360,000.

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s): KY: 286261

    Kentucky

Financing By

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