Building Details

Tenancy Single

Listing Agency: Colliers b***@colliers.com Show Phone

Listed By: Robert Rohrer Show Phone

Source: Moodyscre

Added: Jun 11 Changed: Jul 10 Last Checked: Aug 8 at 4:59AM

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Investment Insights

Based on property information with market context.

This single-tenant retail property is 100% leased and guaranteed by Tractor Supply Company. The tenant has operated at the location since 2011 and recently executed a long-term lease extension. Tractor Supply is described in the remarks as Investment Grade (Standard & Poor’s: BBB), supporting the stability of the existing occupancy.

The property is located at 437 Route 125 in Brentwood, New Hampshire, a setting positioned to serve both regional and rural shoppers. The remarks also note that New Hampshire does not impose a state income tax, a factor that can be relevant for investors evaluating overall operating and holding considerations.

For buyers or operators seeking a straightforward, fully occupied retail asset, this offering provides a current tenant with a documented commitment to the site through a long-term extension. The property’s profile is centered on the existing use and ongoing tenancy by Tractor Supply, making it a practical fit for investment strategies that prioritize leased, guaranteed income from a single credit tenant.

Key Highlights

• 100% leased net‑leased retail property fully occupied by Tractor Supply Company under a guaranteed lease
• Tractor Supply has operated at this location since 2011 and recently executed a long‑term lease extension
• Tenant credit: S&P BBB (investment grade) and Standard & Poor’s: BBB is referenced in the remarks

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$261,538

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

5.20%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$5,230,760 $5.2M

Cap Rate 7%

$3,736,257 $3.7M

Cap Rate 9%

$2,905,978 $2.9M

Market Conditions

NOI Build-Up for 18,500 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$399.6K $21.60/SF

− Vacancy

−$26.0K −$1.40/SF

EGI

$373.6K $20.20/SF

− OpEx

−$112.1K −$6.06/SF

NOI

$261.5K $14.14/SF

Area

Rockingham County, NH

Vacancy

6.50%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$5,230,760

Cap Rate 7%

$3,736,257

Cap Rate 9%

$2,905,978

Alternative Uses

Best Use

Retail

$3.74M

$3.27M – $4.36M (±1% cap)

NOI $261,538 @ 7.0% cap · market cap 5.20%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$6.16M

$5.39M – $7.19M (±1% cap)

NOI $431,142 @ 7.0% cap · market cap 8.58%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Electrical Service Plumbing Service Locksmith Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

103

Businesses Nearby

22k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 52% Dining 48%

Tractor Supply Co. Home Improvements & Furnishings

11,347 visits/mo 0.1 miles

Burger King Dining

10,308 visits/mo 0.5 miles

Demographics for 03833, NH

22,662

Population

9,789

Households

2.3

Avg Household Size

47

Median Age

54%

College-Educated

98%

High-School Grad

48.5 sq mi

ZIP Area

467

Density / Sq Mi

$110,566

Median Household Income

$59,220

Median Earnings

$1,632

Median Rent

$456,000

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Net-leased retail property fully occupied by an investment-grade tenant with a long-term lease extension.

Where is this retail space located?

The property is located at 437 Route 125 Brentwood, NH.

What is the asking price?

The asking price for this property is $5,025,000.

What are key features of this property?

This property features: 100% leased net‑leased retail property fully occupied by Tractor Supply Company under a guaranteed lease; Tractor Supply has operated at this location since 2011 and recently executed a long‑term lease extension; Tenant credit: S&P BBB (investment grade) and Standard & Poor’s: BBB is referenced in the remarks