1400 Oak St - Department Store FOR SALE


Kenova, WV 25530
$4,422,865 USD
404-823-6754
1400 Oak St, Kenova, WV for Sale
$4,422,865 USD
Department Store - FOR SALE
1/3
null | 6.25% Cap Rate

1400 Oak St
Kenova, WV 25530


HIGHLIGHTS

  • Long Term Lease w/ Attractive Rental Escalations
  • Corporate Guaranty from Fastest-Growing Tool & Equipment Retailer in the U.S.
  • Kenova's Primary Home Improvement Store & Top Visited Harbor Freight Tools Location
  • Prime Frontage Store Relocation
  • Brand New Harbor Freight Build-to-Suit w/ Minimal Landlord Maintenance
  • Proximity to Marshall University & Major Medical Hub

OVERVIEW

Harbor Freight Tools is operating under a recently executed, 15-year lease with 14 years of primary term remaining. The Lease also features attractive 10% rent bumps every 5 years during the base term and throughout the five (5), five (5) year renewal option periods, providing increasing returns and an effective hedge against inflation. The Property is a brand new build-to-suit for Harbor Freight Tools featuring state-of-the-art construction and the latest standalone prototype architecture. The Property also benefits from a highly passive NN lease with limited landlord responsibilities. The Property serves as the primary home improvement store for the residents of Kenova and is the only Harbor Freight Tools store within 20+ miles. In addition, this HFT location had approximately 226.9K visits in the past 12 months, which ranks in the Top 15% of all home improvement stores in West Virginia as well as nationwide, and nearly triples the number of annual visits of the nearest competitor - Ace Hardware (Kenova, WV) 87K visits. (Source: Placer)

FOR SALE DETAILS

PRICE

$4,422,865 USD

PRICE/SF

$276 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Freight Tools

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

62

LAND DETAILS

LAND ACRES

1.8 AC

LAND SF

78,408 SF

ZONING

UZ

APN/PARCEL ID

07-9-02640000

ASK ABOUT THIS PROPERTY

Jason PowellNorthmarqMore Info
404-823-6754

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Jason PowellNorthmarqMore Info
404-823-6754

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.