Listed by Marcus & Millichap - Minneapolis
$4,631,000
Northern Tool + Equipment - Corporate Guarantee
Details
Property Type Retail
Sub Type Storefront, Hardware store
Square Footage 22,000
Cap Rate 7.15%
NOI $331,100
Tenancy Single
Lease Type NN
Lease Term 12
Lease Expiration 03/29/2034
Remaining Term 8
Rent Bumps Yes
Lease Options 2, 5 Year Options
Year Built 2022
Acreage 2.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/17/2022
Ground Lease No
10% Rental Increases | 2022 Construction | No Income Tax State
Marketing description
- Eight-Plus Years Remaining on Lease with Corporate Guaranty by Northern Tool + Equipment
- 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
- Dense Sioux Falls Trade Area with 163,658 Residents within a Five-Mile Radius
- Sioux Falls is the Most Populous City in the State of South Dakota
- Households and Population Projected to Increase 7 Percent-Plus in the Immediate Area by 2030
- Excellent Access and Visibility from Interstate 29 (±66,000 Cars per Day), a Major Connector for the Sioux Falls MSA
- Highly Accessible Location via West 12th Street / Interstate 29B (±45,500 Cars per Day)
- Central Location with Immediate Proximity to Great Plains Zoo, W.H. Lyon Fairgrounds, The Country Club of Sioux Falls, Minnehaha Country Club, and Downtown Sioux Falls
Investment highlights
Northern Tool + Equipment is an industry leader, offering a wide selection of products, from consumer goods to industrial and construction equipment. With over 120 store locations across more than 20 states, Northern Tool has a strong retail presence in the U.S. Northern Tool reaches an even wider audience through year-round catalog offerings, a website packed with over 100,000 tools, curbside store pickup, and nationwide delivery.
Sioux Falls is the most populous city in the state of South Dakota and is the county seat of Minnehaha County. The city’s population sits at approximately 225,000 people. In 2025, the city’s population grew by 2.3 percent, which aligns with the city’s long-term growth rate.
Listing Contacts
Listed by Marcus & Millichap - Minneapolis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$331,100.00
$27,591.67/mo
Valuation Metrics
0
DSCR
7.15%
Cap Rate
7.15%
ROI
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