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Northern Tool + Equipment 3970 SW 3rd St 26,054 SF Retail Building Ocala, FL 34474 $7,407,249 CAD ($284.30 CAD/SF) 6.75% Cap Rate

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Investment Highlights

Change header to: Corporate Guarantee | 18-Year Operating History | Adjacent to a Soon-to-be CUI Heat
Interstate 75 Corridor | Visibility to 100,500 VPD

NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
Fast-Growing & Affluent Trade Area | Ocala MSA (#1 in U.S. Population Growth)

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Northern Tools + Equipment investment property located in Ocala, Florida. The tenant, Northern Tool & Equipment Company, Inc has approximately 7 years remaining on their lease with 2 (5-year) options to extend, demonstrating commitment to the site. The lease features 5% rental increases every 5 years throughout the remainder of the 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 an out of state investor.

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

26,054 SF

Building Class

Year Built

2008

Price

$7,407,249 CAD

Price Per SF

$284.30 CAD

Cap Rate

6.75%

NOI

$500,014 CAD

Tenancy

Single

Building Height

1 Story

Loading Docks

1 Exterior

Building FAR

0.19

Lot Size

3.15 AC

Zoning

B2 - Community Business

Parking

67 Spaces (2.57 Spaces per 1,000 SF Leased)

Frontage

272’ on SW 3rd St

Freeway Visibility

Signage

Wholesaler
-
$9.99
Jan 0000

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.