Long Term Absolute NNN Les Schwab Tires | 1134 Princeton St
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Long Term Absolute NNN Les Schwab Tires 1134 Princeton St
10,800 SF 100% Leased Retail Building Vermillion, SD 57069 $1,700,000 ($157/SF) 5% Cap Rate
Investment Highlights
- Long term primary lease (±19 years remaining)
- Extremely low rent
- Rental increases every 5 years to hedge against inflation
- Brand new high quality construction
- Absolute NNN Ground Lease - no landlord responsibilities
- Les Schwab Tire Centers has over 500 locations across 13 states in the Western U.S.
Executive Summary
INVESTMENT HIGHLIGHTS
• Long term primary lease (±19 years remaining)
• Brand new high quality construction
• Extremely low rent
• Absolute NNN Ground Lease - no landlord responsibilities
• Rental increases every 5 years to hedge against inflation
TENANT HIGHLIGHTS
• Substantial annual sales above $2 Billion
• Les Schwab Tire Centers has over 500 locations across 13 states in the Western U.S.
• Founded in 1952, over 72 years in the business with over 7,000 employees
• Les Schwab has invested significantly in the site by building their own building and maintaining it
LOCATION HIGHLIGHTS
• Across the street from a Walmart Supercenter
• ±1.5 miles from the University of South Dakota (10,619 students)
• Neighboring national credit retailers such as Dollar Tree, Tractor Supply Co, Hy-Vee Grocery Store, and Runnings
• Near 612,00 SF Polaris facility with 25 year operations history and over $10M in improvements
• Long term primary lease (±19 years remaining)
• Brand new high quality construction
• Extremely low rent
• Absolute NNN Ground Lease - no landlord responsibilities
• Rental increases every 5 years to hedge against inflation
TENANT HIGHLIGHTS
• Substantial annual sales above $2 Billion
• Les Schwab Tire Centers has over 500 locations across 13 states in the Western U.S.
• Founded in 1952, over 72 years in the business with over 7,000 employees
• Les Schwab has invested significantly in the site by building their own building and maintaining it
LOCATION HIGHLIGHTS
• Across the street from a Walmart Supercenter
• ±1.5 miles from the University of South Dakota (10,619 students)
• Neighboring national credit retailers such as Dollar Tree, Tractor Supply Co, Hy-Vee Grocery Store, and Runnings
• Near 612,00 SF Polaris facility with 25 year operations history and over $10M in improvements
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,800 SF
Year Built
2024
Price
$1,700,000
Price Per SF
$157
Cap Rate
5%
NOI
$85,000
Percent Leased
100%
Building Height
1 Story
Opportunity Zone
Yes
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Les Scwab
- -
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Les Scwab | - | - | - | - |
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 15295-00600-040-00 | Improvements Assessment | $0 |
| Land Assessment | $38,150 | Total Assessment | $38,150 |
PROPERTY TAXES
Parcel Number
15295-00600-040-00
Land Assessment
$38,150
Improvements Assessment
$0
Total Assessment
$38,150
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Long Term Absolute NNN Les Schwab Tires | 1134 Princeton St
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