Kohl’s

Tenant

Kohl's

Location

New Hartford, NY

Price

$6,898,577

CAP Rate

6.75%

NOI

$465,654

Lease Term

11 Years Remaining

Occupancy

100%

Building Size

88,407 Sq. Ft,

Property Type

Single Tenant

Year Built

2005

Lot Size

6.83 acres

Status

Available

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

  • Absolute NNN Corporately Guaranteed Lease
  • Investment Grade Tenant | BBB (S&P)
  • Rent Increases of $0.48/SF in 2026 and $0.50/SF Every 5 Years Thereafter
  • Early 10 Year Lease Extension
  • High Traffic Location | 24,000 VPD
  • Excellent Demographics | 94k+ People in 5 Miles
  • Three Colleges in 5 Miles | 35,000+ Students
  • Near Many Prominent Retailers such as Walmart, Target, TJ Maxx, DSW, Planet Fitness, Barnes & Noble and more

The Iacono Team at Marcus and Millichap is pleased to exclusively present a Kohl’s in New Hartford, NY.  Kohl’s is subject to an Absolute NNN lease with 11 years remaining on the base term and five five-year renewal options. The lease calls for rental increases of $0.48 per square foot in 2026 and $0.50 per square foot every five years thereafter. Kohl’s has been operating at this location since 2004 and recently extended their lease 10 years demonstrating a strong commitment to the site.

Kohl’s is a leading omni-channel retailer that offers exclusive brand apparel, shoes, accessories, home and beauty products. Now publicly traded (NYSE: KSS), Kohl’s corporation is ranked #95 on the Fortune 500 list. With more than 1,100 brick-and-mortar stores across 49 states, Kohl’s is one of the largest department stores in the United States. Kohl’s generated a revenue of $20.2 Billion in 2018, which represents a growth of 0.7% from 2017. In 2017, Kohl’s entered a partnership with Amazon to offer fast and easy return shipping. Strategically aimed at driving traffic into stores, any Amazon customer can bring their eligible Amazon returns to their local Kohl’s, no box or label necessary. Kohl’s will pack it up and ship it back to Amazon, without cost.

The subject property is located in a dense retail corridor in New Hartford, NY. There are many prominent retailers near by including TJ Maxx, Barnes & Noble, Walmart, Target, DSW, Planet Fitness, Best Buy and many more. The area is a high traffic location with more than 46,000 combined vehicles per day. Additionally, there are three colleges less than 5 miles from the subject property with more than 35,000 students enrolled. The area is heavily populated with more than 94.000 people residing within 5 miles.