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