Single Tenant Dick's Sporting Goods (Subleased to Sportsman's Warehouse)
Camp Hill, PA
The Opportunity
Summary
- Price: $9,400,000
- Cap Rate: 7.50%
- NOI: $704,228
- Lease Type: Fee Simple: NN
- Building Size: 50,302 SF
- Parcel Size: ~4 Acres (Denotes an Estimate)
- Year Renovated: 2015
- Remaining Lease Term: 8 Years
- Options: Two (2), Five (5) Year Options, One Four (4) Year, Eleven (11) Month Option
- Rental Increases: $0.50 PSF Every Five (5) Years
Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Dick's Sporting Goods (subleased to Sportsman's Warehouse), (the “Property”) in Camp Hill, PA, a borough within the Harrisburg-Carlisle MSA. As a subtenant to Dick's Sporting Goods (S&P: BBB), Sportsman’s Warehouse is operating on a NN lease with attractive $0.50 per square foot rental increases every five (5) years, including the option periods. Sportsman’s Warehouse has two (2), five (5) year options and one (1), four (4) year, eleven (11) month option remaining. Sportsman’s Warehouse benefits from excellent visibility as it can easily be seen by the 37,000 vehicles per day along US-15. Adjacent to a Walmart Supercenter, Sportsman's Warehouse sits as an outparcel to the highly trafficked Capital City Mall, which boasts approximately 614,000 square feet of retail space. According to Placer.ai, which uses GPS data from cell phones to track foot traffic, Capital City Mall ranks in the top 91st percentile of regional malls within the United States. Additionally, Sportsman’s Warehouse ranks in the top 80% within the U.S. when compared to other locations within its chain. Sportsman’s Warehouse is just under five (5) miles southwest of Harrisburg, the state capital of Pennsylvania home to over 38,000 state and federal daytime employees.