For Sale
$5,718,000

2169 Bobo Newsom HwyHartsville, SC 29550

Net-leased Tractor Supply; strong returns.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a brand-new, 2023-built, 22,433 square foot Tractor Supply store in Hartsville, South Carolina. Located at 2169 W Bobo Newsom Hwy, this single-tenant, net-leased property boasts a 15-year lease commencing November 23, 2023, with a 5% rent increase every five years. The lease is corporately guaranteed by Tractor Supply Company (TSCO), a Fortune 500 company with a BBB S&P rating, providing exceptional financial stability. The property sits on a 4-acre lot with 60 parking spaces and benefits from excellent visibility and access on W Bobo Newsom Hwy, experiencing approximately 113,360 vehicles per day. The property enjoys a prime location, serving as the only Tractor Supply within a 16-mile radius, catering to an affluent area with an average household income exceeding $117,218 within a one-mile radius. The building features a new 15-year roof warranty, transferable to the buyer at closing. Landlord responsibilities are limited to roof, structure, and parking lot maintenance. The property's strong performance is reflected in its current Net Operating Income (NOI) of $343,095, yielding a 6.00% cap rate on the asking price of $5,718,000. This is a rare opportunity to acquire a high-quality, net-leased investment property anchored by a financially sound, industry-leading tenant with significant growth potential. The property's proximity to Sunoco's global headquarters and Carolina Pines Regional Medical Center further enhances its strategic value.

Highlights

  • Brand new, 2023 build-to-suit Tractor Supply store.
  • Investment-grade, corporate-guaranteed lease (BBB S&P rating).
  • Tractor Supply Co. (TSCO) ranks #291 on the Fortune 500, with aggressive growth plans.
  • Largest US rural lifestyle retailer, operating over 2,200 stores nationwide, generating $14.9B in 2023 revenue (10.24% YoY growth) and boasting a $28B market cap (3/27/24).
  • 15-year Net Lease with 5% rent bumps every 5 years; $343,095 annual NOI; 6% cap rate.

Property Details for 2169 Bobo Newsom Hwy

Property type
Retail properties, Retail space
Square Feet
22,433 SF
Class
B
Year Built
2023
Buildings
1
Lot Size (sq. ft)
174,240 SF
Units
1

Location Insight

City
Hartsville
County
Darlington
State
South Carolina
Latitude
34.361162
Longitude
-80.124881
2169 Bobo Newsom Hwy, Hartsville, South Carolina

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2169 Bobo Newsom Hwy
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