Fort Myers, FL - Tractor Supply

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Tractor Supply Company investment property located in Fort Myers, Florida. The tenant recently signed a brand-new 15 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, structure, foundation, parking lot (re-striping/sealing), & exterior utility lines making it an ideal, low-management investment opportunity for a passive investor. The newly-constructed building features a state-of-the-art design with high-quality materials. Tractor Supply is the largest rural lifestyle retailer in the U.S., ranking 293 on the Fortune 500. The Company’s more than 50,000 Team Members are known for delivering legendary service and helping customers pursue their passions.

The subject property is located along County Rd 876 which averages 59,500 VPD. The site benefits from nearby direct on/off ramp access to Interstate 75, a major thoroughfare that averages 54,000 vehicles passing by daily. The asset is near Daniels Marketplace, a 106,000+ SF shopping center, that is anchored by a Whole Foods. Other nearby national/credit tenants include Publix, Walgreens, CVS, Truist, Panera, Cava, McDonald’s, Dunkin’, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 130,000 and 100,000 employees, providing a direct consumer base from which to draw. Residents within a 3-mile radius of the subject property boast an affluent average household income of $145,097.