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Miscellaneous

Rent-A-Center & Aubuchon Hardware

32 Clinton St, Gouverneur, NY 13642

Listing Price: $828,056

Cap Rate
10.00%
Tenant Name
Rent-A-Center & Aubuchon Hardware
Years Remaining On Lease
4.3
Guarantor
Corporate Guarantee
Rentable SF
19,650
Lease Type
Double Net
Rent Per Square Feet
$4.21

Investment Overview

Rent-A-Center (commonly referred to as RAC) is an American public furniture and electronics rent-to-own company based in Plano, Texas. The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, Puerto Rico, and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count. In 2014, Fortune Magazine listed Rent-A-Center at number 711 on the Fortune 1000 list of the largest U.S. corporations, based on revenues alone. The rent-to-own business was started by Ernie Talley in Wichita, Kansas during the 1960s when he told customers of his store, Mr. T's Rental, that they had rented a washer and dryer for a long enough duration that they had paid for it in full and now owned it. Thomas Devlin, a former employee of Mr. T's rental, recognized the potential of renting name-brand products and partnered with W. Frank Barton and founded the Rent-A-Center brand in Wichita, Kansas in 1973. RAC provides new and used brand-named furniture, appliances, computers and electronics from brands, such as Ashley Furniture, Sony, Whirlpool Corporation, Dell and HP. As part of their rent-to-own business model, Rent-A-Center generally makes its items available with small initial payments and no long-term obligations. Customers can return an item at any time, for any reason, without penalty, and also have the option to re-rent the same item and pick up the payments where they left off. Delivery, pick-up, service and repair are also included in the stated rental price. Customers can also upgrade items while they are renting—the payments will change accordingly.

Investment Highlights

  • Very Low Rent Location (Tenants Paying a Blended $4.44 PSF)
  • Convenient Location in Downtown Retail Area | Main Shopping Center for Town
  • Neighboring Retailers Include Family Dollar, Tractor Supply, Save a Lot, Dollar General, USPS, Dunkin' Donuts, McDonald's and 7-Eleven
  • Location is Minutes from School System and Main Medical Center

Exclusively Listed By

Financing By

Miscellaneous

Rent-A-Center & Aubuchon Hardware

Listing Price: $828,056

Cap Rate
10.00%
Tenant Name
Rent-A-Center & Aubuchon Hardware
Years Remaining On Lease
4.3
Guarantor
Corporate Guarantee
Rentable SF
19,650
Lease Type
Double Net
Rent Per Square Feet
$4.21

Investment Highlights

  • Very Low Rent Location (Tenants Paying a Blended $4.44 PSF)
  • Convenient Location in Downtown Retail Area | Main Shopping Center for Town
  • Neighboring Retailers Include Family Dollar, Tractor Supply, Save a Lot, Dollar General, USPS, Dunkin' Donuts, McDonald's and 7-Eleven
  • Location is Minutes from School System and Main Medical Center

Investment Overview

Rent-A-Center (commonly referred to as RAC) is an American public furniture and electronics rent-to-own company based in Plano, Texas. The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, Puerto Rico, and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count. In 2014, Fortune Magazine listed Rent-A-Center at number 711 on the Fortune 1000 list of the largest U.S. corporations, based on revenues alone. The rent-to-own business was started by Ernie Talley in Wichita, Kansas during the 1960s when he told customers of his store, Mr. T's Rental, that they had rented a washer and dryer for a long enough duration that they had paid for it in full and now owned it. Thomas Devlin, a former employee of Mr. T's rental, recognized the potential of renting name-brand products and partnered with W. Frank Barton and founded the Rent-A-Center brand in Wichita, Kansas in 1973. RAC provides new and used brand-named furniture, appliances, computers and electronics from brands, such as Ashley Furniture, Sony, Whirlpool Corporation, Dell and HP. As part of their rent-to-own business model, Rent-A-Center generally makes its items available with small initial payments and no long-term obligations. Customers can return an item at any time, for any reason, without penalty, and also have the option to re-rent the same item and pick up the payments where they left off. Delivery, pick-up, service and repair are also included in the stated rental price. Customers can also upgrade items while they are renting—the payments will change accordingly.

Exclusively Listed By

Financing By

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