Address: 3100 Highway 80, Pearl, MS 39208 (Jackson MSA)
The McEnery Company is pleased to offer the opportunity to acquire a freestanding investment property leased to Harbor Freight Tools. Located in Pearl, Mississippi (Jackson MSA) along the main retail corridor of Highway 80; the property is shadow anchored by a freestanding Kroger grocery store. Harbor Freight Tools has been a tenant in the property since 2000, and is currently under lease until 3/31/29. The lease provides for a 3.5% increase in base rent on 4/1/24, and features three (3) remaining 5-year extension options. The lease is NN+ with landlord responsible for roof, structure, and CAM (reimbursed monthly by the Tenant).
Harbor Freight Tools is a privately held discount tool and equipment retailer with over 20 thousand employees and over 40 million satisfied customers Founded in 1977 the company has grown to over 1000 locations nationwide. Harbor Freight offers more than 7 000 high quality tools and accessories but at up to 80% cheaper prices that the competition These tools and accessories include tools, generators, air/power tools, shop equipment and automotive tools The company also backs their products with a 100 satisfaction guarantee, easy return policy and hand tool lifetime warranty.
List Price: $1,545,000 | $103 Per SF
Gross Building Area: 15,000 SF
Land Area: 1.13 Acres
Cap Rate: 7%
Annual Base Rent: 108,900
Please contact Chris Dozier 504-722-5393 for further listing details or to schedule a showing