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Harbor Freight, Cumming, GA

Harbor Freight

Cumming, Georgia

Price $4,901,000
Cap Rate 5.75%
NOI $281,775
Lease Term 10 Years
Lease Type Net Lease, With Tenant Responsible For All Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot
Rental Increases Rental Increases Every Five (5) Years In Option Periods
Year Built 2021 (Under Construction)
Building Size 14,490 SF
Lot Size 1.33 Acres (57,935 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Jack Hinson
Brokerage
704.572.9921
jack.hinson@cushwake.com
CA RE License #02059267

Investment Highlights

NEW 10-YEAR NET LEASE WITH SCHEDULED RENTAL INCREASES TO STRONG RETAIL TENANT
» New 10-year net lease with five (5) five (5) year options, creating a stable, long-term investment
» Rental increases every five years in option periods, providing a hedge against inflation
» Net lease requires minimal landlord management, ideal for an out-of-area investor
» Harbor Freight Tools is one of the nation’s fastest growing retailers with over 1,100 stores nationwide, over 20,000 employees, and more than 40 million customers
» On July 28, 2020, Harbor Freight Tools launched its own credit card in partnership with Synchrony (NYSE: SYF), which offers its users substantial value and rewards on a wide variety of tools and equipment at all Harbor Freight locations nationwide

LOCATED IN DENSELY POPULATED AND AFFLUENT GEORGIA RETAIL CORRIDOR
» High-traffic location along State Route 9/Atlanta Highway (18,610 AADT), significantly increasing traffic to the site
» Beneficial proximity to highly trafficked Georgia thoroughfares, including State Route 20/ Buford Highway (45,500 AADT) and U.S. Route 19 (62,600 AADT)
» Population of 104,436 within a five-mile radius of the site, providing an extremely large customer base for the property
» Average annual household income of $137,506 within five miles of the site
» Projected 10 percent average annual household income increase within a five-mile radius of the site in the next five years, poising Harbor Freight and Cumming for significant concurrent growth

LOCATED NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Publix-anchored shopping center, greatly increasing traffic to the location
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, Big Lots, Kohl’s, McDonald’s, Burger King, Cracker Barrel, and many more
» 1.5 miles from Northside Hospital (298 beds, 3,000 employees), Forsyth County’s second largest employer
» Surrounded by high-density single family housing developments and large apartment and townhouse complexes
» Three miles from Lake Lanier, a major Georgia tourist attraction, which welcomes 10 million annual visitors and generates $5 billion in annual economic impact on the area

NEW 2021 CONSTRUCTION
» 2021 construction featuring latest store designs and concepts
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is conveniently located along State Route 9/Atlanta Highway (18,610 AADT), drawing significant traffic to the site. The location is strategically placed near highly trafficked Georgia thoroughfares, including State Route 20/Buford Highway (45,500 AADT) and U.S. Route 19 (62,600 AADT). The site is also located in a densely populated area, with a population of 104,436 within a five-mile radius of the site. The property is located in an extremely affluent area as well, with an average annual household income of $137,506 within five miles of the site. With a projected 10 percent average annual household income increase within a five-mile radius of the site in the next five years, Harbor Freight and Cumming are poised for significant concurrent growth.

Visibility to the property is increased by the site’s centralized location near large employers, retailers, and community hubs. The property is outparcel to a Publix-anchored shopping center, greatly increasing traffic to the site. The location is also surrounded by many major national retailers, including Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, Big Lots, Kohl’s, McDonald’s, Burger King, Cracker Barrel, and many others. The site maintains a beneficial proximity 1.5 miles from Northside Hospital (298 beds, 3,000 employees), Forsyth County’s second-largest employer. The property is surrounded by high-density single family housing developments and resides three miles from Lake Lanier, a major Georgia tourist attraction, which welcomes 10 million annual visitors and generates $5 billion in annual economic impact on the area.

Contact Us About This Property

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