Harbor Freight Tools

Harbor Freight Tools

816 Saco Lowell Road
Easley (Greenville MSA), SC

Price: $3,734,746
Cap: 5.90%
NOI: $220,350
Building Size: 15,000 SF
Lot Size: 2.11 AC

Investment Highlights

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the newly constructed buildto- suit for Harbor Freight Tools. The freestanding retail building was completed in 2021 and totals 15,000 square-feet, fully leased to Harbor Freight Tools with a corporate guarantee. The subject property rests on approximately 2.11 acres, and features high-quality construction with upgraded brick exterior on all sides of the building. Harbor Freight Tools USA, Inc., is on a long-term NN lease with approximately 9.5 years of term remaining and five, 5-year options to renew with 10% rent escalations occurring each period. Located in a dense retail corridor, the property is directly adjacent to a Walmart Supercenter, Marshall’s, Kohl’s, Sam’s Club, Tractor Supply Co, & numerous other national retailers. Additionally, the subject property is situated on a hard corner lot with excellent visibility as the combined traffic count is over 56,000+ VPD.

The upstate region of South Carolina is located in the northwesternmost portion of the state. It is also known as the Greenville- Spartanburg-Anderson combined statistical area, consisting of 10 counties: Anderson, Greenville, Laurens, Pickens, Spartanburg, Union, Cherokee, Abbeville, Greenwood and Oconee. The area is home to 1.5 million residents. Greenville County boasts many large businesses and financial companies, houses various regional offices and continues to attract new firms. The county seat and most populous city is Greenville, with roughly 70,000 residents. Additional portions of the metro are known for manufacturing and a variety of other industries.

New 2021 Build | 100% Occupied by Harbor Freight Tools | Corporate Guarantee

Original NN Lease | Five, 5-Year Options to Renew Each with 10% Rent Increases | 9.5 Years of Term Remaining

Upgraded Brick Construction | No Deferred Maintenance or CapEx Needed | Minimal Landlord Responsibilities

Hard Corner Lot on Saco Lowell Rd & Just Off of Calhoun Memorial | Combined Traffic Count of 56,000+ VPD

Household Income is $82,808 within a 3-Mile Radius | Located in Dense Retail Corridor

Directly Adjacent to Walmart Supercenter, Sam’s Club, Marshall’s, & Many More

Less than 15 Minutes from Downtown Greenville | Less than 40 Miles to Spartanburg, SC

Tenant has Right of First Refusal

Don McMinn

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