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Home Depot

Seekonk, Massachusetts

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The NNN Pro Group is pleased to present the exclusive listing for The Home Depot condo located at 95 Highland Avenue in Seekonk, MA. The site consists of roughly 135,857 rentable square feet of building space on estimated 3.54-acre parcel of land. The Home Depot is subject to an original 30-year absolute triple-net (NNN) ground lease, which has roughly 12.25+ years of lease term remaining. The annual rent is $1,157,628 and is set to increase in roughly two years by five percent (5%). The 5% increases will continue throughout the remainder of the lease term and in the thirteen (13), five (5)-year tenant renewal options.

About the Investment:

✓ Long-Term Absolute Triple-Net (NNN) Ground Lease with 12.25 Years Remaining
✓ Full Corporate Guaranty from Home Depot U.S.A., Inc | $132B in 2020 Annual Sales
✓ 5% Rent Increases Every Five Years | Next Increase in 2+ Years | Increases CAP Rate by 20+ Basis Points
✓ Thirteen (13), Five (5) Year Tenant Renewal Options | Showing Home Depot’s Committed to This Location

About the Location:

✓ Premier Retail Corridor in Southeast Massachusetts | High Barrier to Entry Market |Extremely Low Vacancy Corridor
✓ Notable Tenants in Surrounding Area Include Walmart, Target, Stop & Shop, Kohl’s, BJ’s Wholesale, At Home, Lowe’s, and Best Buy
✓ Dense Residential Area | Over 206,000 People in a Five Mile Radius
✓ Positioned on the Border of Massachusetts and Rhode Island |The Site Benefits From Close Proximity to the RI State Capital, Providence
✓ Strong Traffic Counts | Highland Avenue has Nearly 23,000 Vehicles Per Day While Interstate-195 has Over 126,000 Per Day

About the Tenant/Brand:

✓ Home Depot is the World’s Largest Home Improvement Retailer in the World
✓ The Company has an Extremely Strong S&P Investment Grade Credit Rating of A
✓ As of 2021, Home Depot Operates Nearly 2,300 Locations in all 50 States, Puerto Rico, US Virgin Islands, Guam, Canada, and Mexico
✓ Home Depot was Founded in 1978 by Bernie Marcus and Arthur Blank and is Headquartered in Atlanta, GA

Key Details

Cap Rate:
Annual Rent:
95 Highland Avenue, Seekonk, Massachusetts 02771
Property Type:
Net Leased Retail
Lease Type:
Absolute Triple-Net (NNN) Ground Lease

Original Lease Term:
30 Years
Lease Expiration:
January 31, 2034
Lease Term Remaining:
12.25 Years
Rental Increases:
Five (5) Percent Every Five Years
Lot Size:
+/- 3.54 Acres
Building Size:
135,857 SF
Home Depot

Broker of record

Thomas Shihadeh

License: 1000485

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