Asking Price
NOI Net Operating Income
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Asking Price
NOI Net Operating Income
Cap Rate

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Attributes

Year Built 2000
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Rural King in Butler, PA, which is 27 miles north of Pittsburgh and a part of the city’s MSA. Rural King, who is considered an essential retailer and open for business during this current COVID-19 pandemic, recently exercised their five (5) year renewal option, demonstrating commitment to this location. The strong-performing Rural King has four more options remaining, with the next five (5) year option resulting in a robust 14.29% rental increase. Rural King is currently paying a rent of $1.74 per square foot, which is below replacement cost and allows the 100,000 square feet building to be offered just above $2 million, creating flexibility and rental upside to the new owner.


This Rural King location is the number 1 location in Pennsylvania and is in the top 10% nationally among all Rural Kings based on consumer foot traffic. It benefits from its excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) and is attached to the Clearview Mall. National and renowned retailers such as Dollar General, Wendy’s, ALDI, Advance Auto Parts, Texas Roadhouse, Eat’n Park, Giant Eagle, and Sheetz are within a mile from the premises, further driving customers to the area.


Rural King, headquartered in Mattoon, Illinois, is a farm supply store that currently operates 116 stores in thirteen states. The stores sell a robust selection of items such as, work clothing and work boots, equine and pet supplies, hunting equipment, supplies, firearms, tractor/trailers as well as their parts and accessories, lawn and garden supplies, sprinkler/irrigation parts, power tools, fencing, welding and pump supplies.

Investment Highlights

  • Rural King exercised their five (5) year renewal option earlier this year, demonstrating commitment to the site, and their next five (5) year renewal option comes with a 14% rental increase
  • The Property benefits from its excellent accessibility to a large consumer draw, as it sits along PA Route 8 (22,000 vehicles per day) and is attached to the Clearview Mall
  • Rural King is considered an essential retailer who has been and is currently open during the COVID-19 pandemic
  • National and renowned retailers such as Wendy’s, Dollar General, ALDI, Advance Auto Parts, Texas Roadhouse, Eat’n Park, Giant Eagle, and Sheetz are within a mile from the premises, further driving customers to the area
  • Rural King is a strong performing store with a very low rent to sales ratio and is currently paying $1.74 per square foot in rent, which is below replacement cost and allows the 100,000 square feet building to be offered just above $2 million, creating flexibility and rental upside to the new owner 
  • This Rural King location is the number 1 location in Pennsylvania and is in the top 10% nationally among all Rural Kings based on consumer foot traffic (Placer AI) 
Last Updated Date: 06 Oct 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 06 Oct 2020

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