3-National Tenant Long Term Leased Investment 1200 10th Ave S

MONTANA BROKER OF RECORD .. SCOTT DeYOUNG... MT RRE-BRO-LIC 98615
Faris Lee Investments is pleased to present an exceptional opportunity to acquire a high performing, multi-tenant retail property strategically positioned in the heart of Great Falls, Montana. Located within Holiday Village Mall, the only regional enclosed mall in Northwest Montana, this asset serves as a premier destination for shopping, dining, and entertainment. Positioned along 10th Avenue S (35,000 VPD)—the most trafficked arterial in Great Falls—the property benefits from unmatched visibility and accessibility, attracting over 2.6 million annual visitors (Placer.ai). Surrounded by high-volume national retailers such as Target, Albertsons, Walmart Supercenter, and The Home Depot, the property is at the center of a thriving retail ecosystem that drives consistent customer traffic.
The property features a diverse and creditworthy tenant mix, including Harbor Freight Tools, JOANN Fabric and Crafts, and Fit Life Health Clubs, three recognized brands with proven operational strength. Harbor Freight Tools, with 1,500+ locations and $8 billion in 2024 revenue, is the only location within a 90+ mile radius, ensuring strong regional demand and customer loyalty. JOANN Fabric and Crafts, with 830+ stores and $2.2 billion in revenue, has been a cornerstone of the Great Falls community for over 30 years, demonstrating consistent success, and has recently relocated to this modern, upgraded space. As the only JOANN within a 90+ mile radius, it solidifies its market dominance. Fit Life Health Clubs, the only full-service health club in Great Falls, fills a key market gap and projects $11 million revenue with plans to develop 22 new locations
by 2028, underscoring its financial strength and impressive growth trajectory.
The property is fully leased with long-term NNN leases, the earliest executed in 2019 and others signed more recently. These leases feature built-in rental increases every five years and include multi-option periods, ensuring steady income growth and income stability for years to come. The favorable lease structures minimize landlord responsibilities, offering a stable investment opportunity with predictable cash flow. Priced well below replacement cost at under $162/SF, this property also delivers significant intrinsic asset value.
The property’s location within a thriving retail corridor further enhances its long-term success. Great Falls is experiencing steady residential and commercial growth, fueled by its affordability, high quality of life, and increasing demand for regional retail amenities. Ongoing residential developments and a growing population continue to strengthen the consumer base, supporting economic expansion and ensuring consistent tenant performance.
This investment represents a rare opportunity to acquire a stable, high-performing commercial asset in one of Montana’s most dynamic markets. With its prime location, long-term leases, and high-profile national tenants, the property promises reliable cash flow, strong intrinsic value, and an attractive return on investment for discerning buyers.