Investment Highlights
AQRE Advisors is pleased to present the opportunity to acquire a single-tenant, NN Tractor Supply Co. (NASDAQ: TSCO) in Bucyrus, OH. The +/-19,740 square foot building is 100% occupied by Tractor Supply with long-term operating history of 50+ years at this location.
Tractor Supply Company is strategically located just off US Route 30 on East Mansfield Steet providing easy access to US Route 30, the main east to west thoroughfare linking Bucyrus to Mansfield as well as Canton. The asset is ideally situated adjacent to Walmart Supercenter and ALDI, two of the largest grocers in the country that significantly increase traffic to the immediate trade area and promote increased exposure for the site. Additionally, the subject property is positioned near the Timken Bearing Plant, one of the many manufacturing plants of the publicly traded (NYSE: TKR) world leader in engineered bearings and power transmission products. Timken reported Q2 revenue of $1.1B in 2021 and is one of the largest employers in Bucyrus.
In 2021, Tractor Supply announced the acquisition of Orscheln Farm and Home, a farm and ranch retailer that operates 167 stores in the Midwest for approximately $300 million. The company has seen significant growth due to its aggressive strategic plan to identify and expand into all U.S. rural markets. During FY 2020, Tractor Supply Company reported $10.62 billion in net sales, $749.0 million in net income, and $7.05 billion in total assets.
- Long-term operating history with 50+ years at this location
- New roof completed in march of 2020 with 10-year 100% coverage on all labor and material
- Below market rent at $6.08/sf
- Features +/- 19,740 building with an additional 16,500 SF outdoor display area
- NN lease with minimal landlord responsibilities (roof and structure)
- Corporate Guaranty from Tractor Supply
- The nearest Tractor Supply is approximately 20 miles away
