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Tractor Supply Company, Elgin, TX

Tractor Supply Company

Elgin, TX

Price $7,453,000
Cap Rate 4.85%
NOI $361,450
Lease Term 15 Years (11 Years Remaining)
Lease Type Net, With Tenant Responsible For All Taxes, Insurance And Maintenance Excluding Roof, Exterior, Structure And Parking Lot
Rental Increases 5% Rental Increases Every Five (5) Years
Year Built 2017
Building Size 21,702 SF
Lot Size 5.59 Acres (243,500 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

Investment Highlights

CORPORATE NET LEASE TO MAJOR NATIONAL TENANT
» 5% rental increases every five years, providing an excellent hedge against inflation
» Long-term lease to investment-grade tenant, rated “BBB” by Standard & Poor’s
» Tractor Supply Company is the largest operator of rural lifestyle retail stores in the United States with more than 2,200 stores nationwide

HIGH-TRAFFIC LOCATION IN GROWING AND AFFLUENT AREA
» Located on Highway 290 with more than 31,000 vehicles per day in front of the property
» 16,255 residents within a five-mile radius of the property, with a projected population increase of more than 12 percent within the next five years
» Central location in an affluent area, with an average household income of $96,566 within a one-mile radius of the site
» Projected 17 percent AHI increase within one mile of the site in the next five years, poising Tractor Supply Company and the Elgin area for significant concurrent growth

PROMINENT LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Close proximity to many major employers including the Samsung Austin Semiconductor, Applied Materials, Tesla and many others
» Many major Fortune 500 companies have headquarters or regional offices in Austin including 3M, Amazon, Apple, Facebook, Google, IBM, Intel, Oracle, Texas Instruments, Whole Foods and many others

HIGH QUALITY 2017 CONSTRUCTION IN TAX FREE STATE
» High quality 2017 construction built to Tractor Supply Company’s latest prototype
» Texas has no State Income Tax, Estate Tax, or Inheritance Tax



Property Description

The property benefits from both its location in the Austin metropolitan area as well as its proximity to major farming operations. Austin has more than 37,500 acres of farmland and more than 40,000 brood cows providing Tractor Supply Company with a large customer base. The property also benefits from its proximity to many of the area’s major employers including the Samsung Austin Semiconductor, Applied Materials, Tesla and many others. The property is also 20 miles from the University of Texas at Austin with more than 60,000 faculty and staff.

The property is strategically located on Highway 290 with more than 31,000 vehicles per day directly in front of the property. The surrounding area is growing rapidly with more than 16,000 residents within five miles and population growth projected to exceed 12% over the next five years. The property is centrally located in a robustly affluent area with an average household income over $96,000 within a one mile radius of the property and 17% projected growth in the next five years. The property is located in the Austin MSA, the 29th largest metropolitan are in the United States and rapidly growing.

Contact Us About This Property

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