Enumclaw, WA - Tractor Supply Co

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 Co. (Nasdaq: TSCO) investment property located in Enumclaw, Washington. The corporate entity recently signed a 15-year lease with options to extend at close of escrow. The lease features 5% scheduled rental increases throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Tractor Supply Company has more than 2,400 locations across the U.S. and maintains strong financial performance with a national average unit volume of approximately $6.5MM.

Tractor Supply is located near the signalized, hard-corner intersection of Griffin Avenue and 1st Street, combining to average over 29,000 vehicles passing by daily. Griffin Avenue serves as Enumclaw’s primary commercial thoroughfare and is home to a dense concentration of national/credit tenants including Safeway, Grocery Outlet, Walgreens, Verizon, Starbucks, Taco Bell, Dollar Tree, O’Reilly Auto Parts, Les Schwab, AutoZone, McDonald’s, Ford, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 15-mile trade area is supported by strong residential growth, solid household incomes, and a diverse employment base, providing a stable consumer foundation for the tenant. Residents within 5 miles of the subject property benefit from convenient access to the city’s primary retail corridor and daily-needs destinations.

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Listing ID: a28TP000002CAqTYAW