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Harbor Freight – Kentucky

1235 N Main St, Madisonville, Kentucky, USA Map
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Net Lease w/ Upside

Listing Price $2,399,000

Status Closed
Lease Type NNN
CAP Rate 7.50%
GLA (Sq. Ft.) 24,711
NOI $179,915
Lease Term Remaining 8.1 Years
Increases 10% Every 5 Years
Options Five, 5-Year Options
State (BOR) KY
Broker of Record Colby Haugness
License # (BOR) Lic.# 00241410

Investment Highlights

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  • Subject is a 24,538 Square-Foot Freestanding Retail Building on 3.294 Acres with 87 Parking Spaces that was Recently Renovated in 2018
  • Situated Along Major Retail and Commuter Corridor North Main Street/U.S. Route 41 and KY-281 Intersection with Combined Traffic Counts of Over 40,000 Vehicles per Day
  • Triple Net Lease with a Corporate Guaranty from Harbor Freight Tools USA, Inc, with a “BB-” Rating from Moody’s
  • Harbor Freight is an Essential Retailer, Lease Calls for 10% Escalations Every 5 Years
  • Eight Years Remaining with Five (5-Year) Options, Next Rental Increase in 2023 and at the Beginning of Each Option Period

Investment Overview

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in a net leased Harbor Freight retail property located at 1235 North Main Street, Madisonville, Kentucky (the “Property”). Recently renovated in 2018, the Property comprises a +/- 24,538 SF building on a very busy +/- 3.294-acre parcel, that is strategically positioned to be visible and convenient to a combined 40,000+ vehicles per day at the signalized intersection of North Main Street and KY-281, and only one mile from Interstate 69 with highway traffic of about 24,000 vehicles per day.

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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