Miscellaneous
Harbor Freight Tools | New 12 Yr Lease | Renovated 2025 | Just Outside Syracuse, NY
1272 Front St, Binghamton, NY 13901
Listing Price: $2,347,000
Cap Rate
7.00%
Tenant Name
Harbor Freight Tools
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
16,500
Lease Type
Double Net
Rent Per Square Feet
$9.96
Investment Overview
We're pleased to present the offering for Harbor Freight Tools located just outside Syracuse, New York.
Harbor Freight Tools | New 12 Yr Lease | Renovated 2025 | Just Outside Syracuse, NY
Investment Highlights
- LONG-TERM CORPORATE LEASE: Harbor Freight Tools Recently Executed a 12-Year Lease with a Commencement Date of December 1, 2025, Providing a Stable, Long-Term Income Stream through 2037
- RECENT 2025 RENOVATION: The Property Underwent a Comprehensive a Complete Interior and Exterior Transformation to Suit Harbor Freight's Prototype
- INFLATION-HEDGE RENT GROWTH:The Lease Features a 8% Rent Increase Scheduled for 12/1/2031, Followed by 10% Increase during the First Option and 8% at the Start of the Remaining Option Terms
- PASSIVE LEASE STRUCTURE: The Tenant is Responsible for Reimbursing the Landlord for Taxes and Insurance. Additionally, the Tenant Maintains the Interior, HVAC, and Performs Routine Exterior Maintenance such as Snow removal and landscaping. Landlord responsibility is strictly limited to structural elements, including the foundation, roof, and exterior
- HIGH-TRAFFIC CORRIDOR: Situated on Upper Front Street with Exposure to Over 22,000 Vehicles Per Day (VPD), the Site Benefits from being Positioned Directly Between the I-81 On-and-Off Ramps
- DOMINANT EDUCATIONAL HUB: • SUNY BROOME COMMUNITY COLLEGE: Within Walking Distance, Boasting a Fall 2025 Enrollment of 6,000 students (a recent 15% surge). • BINGHAMTON UNIVERSITY (SUNY): A 12-minute drive to a premier R1 research institution with 20,000+ students and 2,000+ faculty members. • CHENANGO VALLEY SCHOOLS: Adjacent to the Middle and High school campus serving 1,600+ students.
- PROXIMITY TO REGIONAL RETAIL: Located 10 Minutes from Oakdale Commons, a Nearly 1 Million-Square-Foot Super Regional Shopping Destination Anchored by BJ's Wholesale, JCPenney, Dave & Buster's, and the Flagship Dick's House of Sport
- STRONG LOCAL DEMOGRAPHICS: The Site Serves a Dense Trade Area of Approximately 80,000 Residents Within a Five-Mile Radius. The Immediate One-Mile Radius Features Affluent Demographics with Average Household Incomes Exceeding $99,000
Miscellaneous
Harbor Freight Tools | New 12 Yr Lease | Renovated 2025 | Just Outside Syracuse, NY
Listing Price: $2,347,000
Cap Rate
7.00%
Tenant Name
Harbor Freight Tools
Years Remaining On Lease
11.6
Guarantor
Corporate Guarantee
Rentable SF
16,500
Lease Type
Double Net
Rent Per Square Feet
$9.96
Investment Highlights
- LONG-TERM CORPORATE LEASE: Harbor Freight Tools Recently Executed a 12-Year Lease with a Commencement Date of December 1, 2025, Providing a Stable, Long-Term Income Stream through 2037
- RECENT 2025 RENOVATION: The Property Underwent a Comprehensive a Complete Interior and Exterior Transformation to Suit Harbor Freight's Prototype
- INFLATION-HEDGE RENT GROWTH:The Lease Features a 8% Rent Increase Scheduled for 12/1/2031, Followed by 10% Increase during the First Option and 8% at the Start of the Remaining Option Terms
- PASSIVE LEASE STRUCTURE: The Tenant is Responsible for Reimbursing the Landlord for Taxes and Insurance. Additionally, the Tenant Maintains the Interior, HVAC, and Performs Routine Exterior Maintenance such as Snow removal and landscaping. Landlord responsibility is strictly limited to structural elements, including the foundation, roof, and exterior
- HIGH-TRAFFIC CORRIDOR: Situated on Upper Front Street with Exposure to Over 22,000 Vehicles Per Day (VPD), the Site Benefits from being Positioned Directly Between the I-81 On-and-Off Ramps
- DOMINANT EDUCATIONAL HUB: • SUNY BROOME COMMUNITY COLLEGE: Within Walking Distance, Boasting a Fall 2025 Enrollment of 6,000 students (a recent 15% surge). • BINGHAMTON UNIVERSITY (SUNY): A 12-minute drive to a premier R1 research institution with 20,000+ students and 2,000+ faculty members. • CHENANGO VALLEY SCHOOLS: Adjacent to the Middle and High school campus serving 1,600+ students.
- PROXIMITY TO REGIONAL RETAIL: Located 10 Minutes from Oakdale Commons, a Nearly 1 Million-Square-Foot Super Regional Shopping Destination Anchored by BJ's Wholesale, JCPenney, Dave & Buster's, and the Flagship Dick's House of Sport
- STRONG LOCAL DEMOGRAPHICS: The Site Serves a Dense Trade Area of Approximately 80,000 Residents Within a Five-Mile Radius. The Immediate One-Mile Radius Features Affluent Demographics with Average Household Incomes Exceeding $99,000
Investment Overview
We're pleased to present the offering for Harbor Freight Tools located just outside Syracuse, New York.
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