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Norther Tool + Equipment | Recent Extension 1705 Old Fort Pky 25,984 SF Retail Building Murfreesboro, TN 37129 $7,911,488 CAD ($304.48 CAD/SF) 6.35% Cap Rate

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Investment Highlights

Recent 5-Year Extension | 20-Year Operating History
Established Retail Corridor | Frontage to 43,600 VPD

Modified NNN | Fee Simple Ownership | Limited Landlord Responsibilities
Dense & Affluent Trade Area | Nashville MSA (40 Min | 33 Miles)

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Northern Tools + Equipment investment property located in Murfreesboro, Tennessee. The tenant, Northern Tool & Equipment Company, Inc has 5+ years remaining on their lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.5% annual increases throughout the remainder of term and 2% annual increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is Modified NNN with limited landlord responsibilities making it an ideal, low management investment opportunity for an out of state investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

25,984 SF

Building Class

Year Built

2006

Price

$7,911,488 CAD

Price Per SF

$304.48 CAD

Cap Rate

6.35%

NOI

$502,401 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.10

Lot Size

6.20 AC

Opportunity Zone

Yes

Zoning

Parking

105 Spaces (4.04 Spaces per 1,000 SF Leased)

Frontage

317’ on Old Fort Pky

Pylon Sign

Signage

Wholesaler
99,999 SF
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Northern Tool + Equipment is a multi-channel retailer offering a wide selection of products, ranging from consumer goods to industrial and construction equipment, catering to do-it-yourselfers, contractors, and professional shops through catalogs, the internet (northerntool.com), mobile, and retail locations. The company’s headquarters are in Burnsville, MN, with warehouses in Savage, MN, Fort Mill, SC, and Arlington, TX. They manufacture North Star, Powerhorse, and several other brands at their facilities in Faribault, MN, and Ningbo, China. Northern Tool has a strong retail presence across the U.S. However, the Northern Tool experience goes beyond that, with year-round catalog offerings, a website packed with tools, curbside store pickup, nationwide delivery, and a dedicated team ready to assist customers by phone, ensuring endless possibilities.