Pace, 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 Pace, 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 Woodbine Rd, a major retail road, that averages 18,000 vehicles passing by daily. The site is located directly next to Stonebrook Plaza, a 235,000+ SF shopping plaza, which is anchored by Publix, Starbucks, Subway and more. Other nearby national/credit tenants including Circle K, Anytime Fitness, Scooters Coffee, FedEx, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is located in close proximity to Thomas L Sims Middle School (1,098 students) and S S Dixon Intermediate School (920 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 40,000 and 8,000 employees, providing a direct consumer base from which to draw. Residents within a 1-mile radius of the subject property boast an affluent average household income of $130,371.