NNN Northern Tool + Equipment - Snellville, GA - Marketing Package - LoopNet
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NNN Northern Tool + Equipment Snellville, GA James Capital Advisors Northern Tool + Equipment Marketing Package 2240 Walton Court Snellville, GA 30078
PROPERTY INFO FINANCIAL SUMMARY
Tenant Northern Tool + Equipment Purchase Price $4,102,641
Street Address 2240 Walton Court Cap Rate 8.75%
City Snellville Net Operating Income $358,981.11
State GA Price / SF $157.46
Zip 30078 Rent / SF $13.78
APN 6-051 -238
GLA 26,055 SF Listing Agent Vance Exstrom
Lot Size 2.80 AC Phone Number (424) 325-2629
Year Built 2006 Email SUBMIT OFFER
INVESTMENT HIGHLIGHTS
100% Passive Investment
The subject property operates under an Absolute Net (NNN) lease with no landlord responsibilities. The tenant is
responsible for real estate taxes, insurance, CAM and roof and structure.
Significant Rental Increases
Every five years, there is a significant 7% rental increase and there are two, five-year options remaining, allowing for
healthy and constant rental growth.
Corporate Guarantee from Financially Strong Tenant
The tenant, Northern Tool + Equipment, operates more than 90 locations in 20+ states, with six locations in Georgia
alone. Since 1981, Northern Tool + Equipment has grown substantially.
Attractive Yield and Low Rent Per Square Foot
Ideal investment offered at an above average cap rate of 8.25% at $13.78/SF on a 26,055-square-foot building.
James Capital Advisors Northern Tool + Equipment
The Offering 2240 Walton Court Snellville, GA 30078
James Capital Advisors Northern Tool + Equipment Property Image 2240 Walton Court Snellville, GA 30078
LEASE SUMMARY
Lease Type Absolute Net (NNN) Real Estate Taxes Tenant Responsible
Type of Ownership Fee Simple Insurance Tenant Responsible
Original Lease Term 15 Years Repairs & Maintenance Tenant Responsible
Commencement Date March 1, 2006 Zero Landlord Responsibilities
Lease Expiration February 28, 2021 Lease Guarantor Corporate
Term Remaining 1.75 Years Company Name Northern Tool & Equipment Co. Inc
Increases 7% Every 5 Years Ownership N/A
Options Two, Five-Year Years in Business 38
ROFR / ROFO Yes Number of Locations 90
INVESTMENT HIGHLIGHTS
Surrounding National Retailers
National retailers in the immediate area include Chick-fil-A, Walmart, McDonald’s, Sherwin-Williams, Arby’s, KFC,
Zaxby’s and numerous others.
Above Average Household Income
The average household income within a five-mile radius of the subject property is over $93,000. Snellville’s average
household income is 68% higher than the average city in Georgia.
Modern Construction
Built in 2006, the subject property has been exceptionally maintained throughout the life of the asset and provides a
modern and attractive appearance for a hardware-focused store.
Proximity to Major Traffic Artery
The subject property receives high exposure on Route 78, the main highway that funnels directly into the heart of one
of Atlanta’s bedroom communities.
James Capital Advisors Northern Tool + Equipment
Lease Summary 2240 Walton Court Snellville, GA 30078
Representative Photo James Capital Advisors Northern Tool + Equipment Property Image 2240 Walton Court Snellville, GA 30078
Rent Schedule PERIOD ANNUAL RENT MONTHLY RENT INCREASE RENT / SF CAP RATE
03/01/2006-02/28/2011 Base Term $313,548.00 $26,129.00 - $12.03 7.64%
03/01/2011-02/28/2016 Base Term $335,496.36 $27,958.03 7.00% $12.88 8.18%
03/01/2016-02/28/2021 Base Term $358,981.11 $29,915.09 7.00% $13.78 8.75%
03/01/2021-02/28/2026 1st Option $384,109.78 $32,009.15 7.00% $14.74 9.36%
03/01/2026-02/28/2031 2nd Option $410,997.47 $34,249.79 7.00% $15.77 10.02%
James Capital Advisors Northern Tool + Equipment
Rent Schedule 2240 Walton Court Snellville, GA 30078
ABOUT THE BRAND
Company Overview
Since 1981, family-owned Northern Tool + Equipment has grown into the ultimate destination for hard working do-
it-yourselfers and professionals. The company’s selection of generators, pressure washers, power and hand tools,
air compressors, welders, material handling equipment and more includes top national brands and Northern Tool +
Equipment’s own world-class products, which are engineered and built in the company’s own manufacturing facilities.
From the beginning, Northern Tool + Equipment has experienced a continuous pattern of growth. In addition to
operating more than 100 thriving store locations, the company allows customers to browse and purchase over 40,000
products online and via catalog. Taken together, Northern Tool + Equipment’s operations generate over $1 billion in
sales each year. Today, Northern Tool + Equipment is a recognized leader in its industry, all while remaining family-
owned and operated. By staying true to its vision and core values, Northern Tool + Equipment has been able to
maintain success in its operations and thrive in good times and periods of uncertainty.
Mission Statement
Northern Tool + Equipment is a family business that takes pride in its ability to equip customers with the tools to
tackle tough challenges. The company strives to build lasting relationships and promote a fun and unique Northern
experience.
Core Values
• Know your customer
• Provide value
• Act with integrity
• Empower the individual
• Be entrepreneurial
• Have fun
James Capital Advisors Northern Tool + Equipment
About the Brand 2240 Walton Court Snellville, GA 30078
SNELLVILLE, GA
Substantial Development Planned
The City of Snellville has invested $100 million to build multifamily apartments, education and business buildings,
including 24 retail tenants with a city market and event center.
Extremely Strong Retail Sales
On average, Snellville generates $1 billion in retail sales each year. In 2018, the city’s retail sales totaled $1.6 billion.
Surge of Residential Development in Surrounding Area
Located less than two miles from the subject property, there are 100+ new single-family homes with recently finished
construction and by 2021, a 300-unit apartment complex will open near the site.
Strong Demographics
Being one of Atlanta’s neighboring cities, Snellville houses 151K residents within a five-mile radius. Since 2010, the
immediate area has seen 12.8% growth.
ATLANTA, GA
Thriving Atlanta MSA
Atlanta, located 26 miles from the subject property, is the business capital of the Southeast and the region continues
to outpace the nation’s best-known metropolitan regions.
15 Fortune 500 Companies Based in Atlanta
Atlanta is home to Fortune 500 companies such as The Home Depot, United Parcel Service (UPS), Delta Airlines, Inc.,
The Coca-Cola Company, Aflac, SunTrust Banks and several other massive companies.
#1 Moving Destination in the Nation
Penske Truck Rental named Atlanta the top moving destination in the U.S. for the eighth straight year in 2018. Penske
attributes Atlanta’s top spot to climate, the economy and low housing prices.
Less Than an Hour from the Busiest Airport in the World
Atlanta International Airport (ATL) is the busiest and most efficient airport in the world. ATL generates a $34.8 billion
economic impact for metro Atlanta and provides more than 63,000 jobs on-site.
James Capital Advisors Northern Tool + Equipment
Location Overview 2240 Walton Court Snellville, GA 30078
James Capital Advisors Northern Tool + Equipment Retail Aerial 2240 Walton Court Snellville, GA 30078
James Capital Advisors Northern Tool + Equipment Retail Aerial 2240 Walton Court Snellville, GA 30078
James Capital Advisors Northern Tool + Equipment Site Plan 2240 Walton Court Snellville, GA 30078
DEMOGRAPHICS
POPULATION 1 MILE 3 MILE 5 MILE 10 MILE
2023 Projection 8,619 65,366 182,616 675,902
2018 Estimate 8,070 61,361 170,530 633,785
00,000 VPD
2010 Census 7,263 56,210 150,550 568,210
Growth 2018 - 2023 6.80% 6.53% 7.09% 6.65% Street Name Here
Growth 2010 - 2018 11.111% 9.16% 13.27% 11.54%
Above Average Household Income
The average household income within a five-mile radius of the subject property is over $93,000. Snellville’s average
household income is 68% higher than the average city in Georgia.
HOUSEHOLDS 1 MILE 3 MILE 5 MILE 10 MILE
2023 Projection 2,852 21,943 60,333 226,590
2018 Estimate 2,675 20,631 56,450 212,917
2010 Census 2,421 18,961 50,135 192,125
Growth 2018 - 2023 6.62% 6.36% 6.88% 6.42%
Growth 2010 - 2018 10.49% 8.81% 12.60% 10.82%
HOUSEHOLDS
Avg. HH Income $70,907 $88,407 $93,167 $78,252
Med. HH Income $57,610 $71,119 $76,717 $61,236
James Capital Advisors Northern Tool + Equipment
Demographics 2240 Walton Court Snellville, GA 30078DISCLAIMER The information contained in this Marketing Brochure has been obtained from sources believed to be reliable. However, James Capital Advisors, Inc. & Brian Brockman (“Broker”) has not, and will not, verify any of this information, nor has Broker conducted, nor will it conduct, any investigation regarding these matters. Broker makes no representations, guarantees or warranties of any nature about the accuracy or completeness of any information provided. The information provided in this brochure is in no way a substitute for a thorough due diligence investigation by Buyer. Broker has made no investigation of, and has made no representations, guarantees, or warranties of any nature, with regard to income and expenses for this property nor the future financial performance of the property. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties as to the size and square footage of the property, the presence of any contaminating substances at the property, the physical condition of the property or compliance with any State, Local or Federal regulations. In addition, Broker has made no investigation of, and has made no representations, guarantees or warranties of any nature, with regard to the financial condition or future financial condition of any tenants, nor any future plans or intentions of tenants with regard to the continued occupancy of the property. All parties are aware that Broker has no affirmative obligation to conduct a due diligence examination of the property for any Buyer. Any and all projections or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of the property to any Buyer depends on numerous factors that must be evaluated by Buyer and Buyer’s legal, tax, construction and financial advisors. Buyer and Buyer’s advisors should conduct a thorough, independent investigation of the property to determine its suitability for Buyer’s intended usage. This investment, as with all real estate investments, carries a substantial risk. As such, Buyer and Buyer’s legal and financial advisors are strongly advised to request and review all legal and financial documentations related to the property and tenants. A tenant’s past performance is not a guarantee of future performance. The lease rate stated for some properties may be based on a tenant’s projected sales with little or no record of actual performance or comparable rents for the area in question. Returns are in no way guaranteed. Tenants may fail to pay the rent or property taxes or any other tenant obligations under the terms of the lease. Regardless of tenant’s history of performance, and/or any lease guarantors and/or guarantees, Buyer is responsible for conducting Buyer’s own investigation of all matters related to any and all tenants and lease agreements. Broker is not, in any way, responsible for the performance of any tenant or for any breach or default by any tenant of any terms of any lease agreement related to the property. Further, Buyer is responsible for conducting Buyer’s own independent investigation of all matters related to the value of the property, including, but not limited to, the value of any long term leases. Buyer must carefully evaluate the possibility of tenants vacating the property or breaching their leases and the likelihood and financial impact of being required to find a replacement tenant if the current tenant should default and/or abandon the property. Buyer must also evaluate Buyer’s legal ability to make alternate use of the property in the event of a tenant abandonment of the property. CONFIDENTIALITY This Marketing Brochure and the information contained within, is propriety and strictly confidential. It is intended to be used only by the party receiving it from Broker. It should not be made available to any other person or entity without the express written consent of Broker. RELEASE This Marketing Brochure has been prepared to provide basic, unverified information for prospective purchasers. By accepting this Marketing Brochure, the recipient agrees to release and hold harmless Broker. from any claim, demand, liability or loss arising out, or relating in any way, to the information contained in this Marketing Brochure and from Buyer’s investigation of the property. NON-ENDORSEMENT Broker is not affiliated with, endorsed by or sponsored in any way by any tenant or lessee identified in this Marketing Brochure. The presence of any entity’s logo or name is not intended in any way to indicate affiliation, sponsorship or endorsement by said entity of Broker. James Capital Advisors Northern Tool + Equipment Disclaimer 2240 Walton Court Snellville, GA 30078
Contact Information
Vance Exstrom Brian Brockman
Associate Bang Realty - Georgia, Inc
(424) 325-2629
Vance.Exstrom@JamesCapitalAdvisors.com
CA RE Lic. 02049703 GA RE Lic. 378952
SUBMIT OFFER
James Capital Advisors Northern Tool + Equipment
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