This page tracks Harbor Freight net lease properties observed for sale in the United States, refreshed automatically from listing broker materials, checks the tenant against the investment grade threshold, and walks through how to evaluate one before you make an offer. If you want the corporate credit story, the Harbor Freight credit rating and cap rate profile covers it. This page is about the inventory: what is on the market, what it is asking, how the pricing breaks down by term, state and lease type, and how a buyer, especially a 1031 exchange buyer, should work through it.
Harbor Freight Tools is not investment grade. Harbor Freight Tools USA, Inc. carries long-term issuer ratings of BB- (Positive outlook) from S&P Global Ratings, which is below the BBB-/Baa3 investment grade threshold. Ratings checked September 27, 2026. Ratings change; confirm before relying on any figure here. See the Harbor Freight Tools credit rating and NNN cap rate profile and the investment grade credit tenant ratings table.
26 Harbor Freight NNN properties observed for sale across 18 states as of October 2, 2026. Median asking cap rate 6.66% (range 4.82% to 8.76%). Median asking price $3.95M. Average remaining lease term 7.1 years (among 10 listings that state a term). Median building 22,980 SF. Figures update automatically from listing broker materials.
Harbor Freight Tools is not investment grade. Harbor Freight Tools USA, Inc. carries long-term issuer ratings of BB- (Positive outlook) from S&P Global Ratings, which is below the BBB-/Baa3 investment grade threshold. Ratings checked September 27, 2026. See the investment grade credit tenant ratings table.
Harbor Freight NNN Properties For Sale: Latest Listings
Up to twelve of the most recently listed single-tenant Harbor Freight properties with published pricing. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Location | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|
| Midland, MI | $1,945,000 | 7.00% | $136,173 | n/a | 1992 | Not stated | Get full property data |
| Binghamton, NY | $2,628,864 | 6.25% | $164,304 | n/a | 2024 | Not stated | Get full property data |
| Pearl, MS | $1,735,000 | 6.50% | $112,800 | n/a | n/a | Not stated | Get full property data |
| Victorville, CA | $4,131,000 | 5.65% | $233,413 | n/a | 1989 | Not stated | Get full property data |
| Cincinnati, OH | $5,612,000 | 7.50% | $420,900 | 10.0 yrs | 2023 | NN | Get full property data |
| Ocala, FL | $5,071,000 | 7.00% | $355,000 | 6.9 yrs | 2008 | NN | Get full property data |
| Moses Lake, WA | $4,583,333 | 6.00% | $275,000 | n/a | 2018 | NNN | Get full property data |
| Gurnee, IL | $1,654,510 | 7.25% | $119,952 | 7.9 yrs | 1972 | NN | Get full property data |
| Yakima, WA | $4,000,000 | 5.69% | $227,490 | n/a | 2015 | NNN | Get full property data |
| Albuquerque, NM | $2,861,000 | 6.75% | $193,145 | n/a | 1970 | NN | Get full property data |
| Dickinson, ND | $6,666,267 | 6.35% | $423,308 | n/a | 1981 | NNN | Get full property data |
| Lithia Springs, GA | $2,524,234 | 8.00% | $201,938 | 5.7 yrs | 2000 | NN | Get full property data |
Showing the 12 most recently listed of 26 observed listings; listings without a published asking price and cap rate are not shown here.
Search all 26 Harbor Freight properties on the market
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the listing party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Get new Harbor Freight Tools listings in your cap rate band
New Harbor Freight Tools net lease listings matched to your criteria, emailed as they are observed on the market. One email per match, nothing else.
Own a Harbor Freight Tools? Considering selling?
Investment Grade Income Property, LP advises owners nationally through Broker of Record co-listing partnerships in all 50 states. You choose the process: a quiet off-market placement with qualified 1031 buyers already searching this inventory, or a full on-market campaign. Either way it starts with a free valuation benchmark against the live Harbor Freight Tools listings on this page.
Investment Grade Income Property, LP is a licensed commercial real estate brokerage. Your details are used to send the information you requested and are never shared with listing brokers without your permission.
What You Are Actually Buying
Harbor Freight stores are company-operated. The company is privately held and its agency ratings sit below investment grade, so the rent should be underwritten as a speculative grade obligation. Stores are midsize retail boxes, frequently second-generation space in existing centers rather than new pads.
Footprints vary across this inventory, from smaller in-line or pad formats to larger freestanding stores, which is why the price band inside the inventory is wide. Cap rate alone is a poor comparison tool here; price per square foot and rent per square foot relative to market are better.
Across the current inventory, roughly 14% of listings with a reported build year were delivered in the last four years, and about 27% are marketed as NN, NN+ or simply Net, which usually means the landlord retains roof and structure and sometimes parking and HVAC. Read the lease rather than the brochure headline. If the rating framework behind investment grade tenancy is unfamiliar, the investment grade guide explains it.
Harbor Freight Cap Rate, Price and Term Distribution
These tables are generated from the live inventory and refresh every few hours. Use them to place any individual listing in context rather than judging an asking cap rate in isolation.
| Asking Cap Rate Band | Listings | Share | Avg Asking Price |
|---|---|---|---|
| Under 5.00% | 1 | 4% | $2.90M |
| 5.00% to 5.49% | 1 | 4% | $3.57M |
| 5.50% to 5.99% | 2 | 8% | $4.07M |
| 6.00% to 6.49% | 6 | 23% | $5.53M |
| 6.50% to 6.99% | 3 | 12% | $2.30M |
| 7.00% and above | 10 | 38% | $4.95M |
| Asking Price Band | Listings | Share | Avg Cap Rate |
|---|---|---|---|
| Under $1.5M | 1 | 4% | 8.76% |
| $1.5M to $2.5M | 4 | 15% | 7.06% |
| $2.5M to $3.5M | 6 | 23% | 6.46% |
| $3.5M to $5M | 7 | 27% | 6.17% |
| $5M and above | 7 | 27% | 7.00% |
| Remaining Lease Term | Listings | Avg Cap Rate |
|---|---|---|
| Under 5 years | 3 | 6.91% |
| 5 to 10 years | 5 | 7.20% |
| 10 to 15 years | 2 | 6.88% |
| Lease Type (as marketed) | Listings |
|---|---|
| Not stated | 11 |
| NNN | 7 |
| NN | 6 |
| Modified | 1 |
| NN+ | 1 |
How to read the pricing
The spread inside the Harbor Freight inventory runs from 4.82% to 8.76%, against a median of 6.66%. Three variables help explain much of that spread, although these tables describe asking prices and do not isolate any single effect. First, remaining term, shown in the term table above. Second, geography, shown in the state table below. Third, lease structure and real estate quality: longer terms, stronger guarantors, absolute NNN structures and strong access generally ask lower cap rates, while leases with landlord responsibilities (NN) and secondary access generally ask higher ones; ground leases can price on either side, depending on rent and land value. When a listing sits far outside the band its term and state would predict, there is usually a reason in the lease, and it is worth finding before you write the offer rather than after.
Where Harbor Freight NNN Properties Are For Sale
Current inventory spans 18 states. Differences between states in the table below can reflect local buyer demand, growth, taxes and the mix of lease terms in each state’s listings as much as anything about the tenant, and small state samples can shift quickly.
| State | Listings | Avg Cap Rate | Avg Asking Price |
|---|---|---|---|
| CA | 3 | 5.60% | $5.28M |
| FL | 2 | 5.91% | $3.99M |
| GA | 2 | 7.13% | $3.63M |
| IL | 2 | 7.38% | $1.78M |
| MI | 2 | 6.83% | $1.95M |
| AR | 2 | 8.76% | $2.52M |
| WA | 2 | 5.85% | $4.29M |
| MS | 1 | 6.50% | $1.74M |
| ND | 1 | 6.35% | $6.67M |
| NE | 1 | 7.73% | $9.89M |
| NM | 1 | 6.75% | $2.86M |
| NY | 1 | 6.25% | $2.63M |
Shows the 12 states with the most listings, out of 18 states with Harbor Freight listings. Search all listings for the rest.
Harbor Freight as a 1031 Exchange Replacement Property
The median asking price in the current Harbor Freight inventory is $3.95M, and about 38% of listings fall in the middle of the market between 1.5 and 3.5 million dollars. Whether that fits an exchange depends on the equity coming out of the relinquished property and on the debt you need to replace.
- Identify from the live list, not a stale one. Listings move. Identify two or three specific properties under the three-property rule and keep a backup that is realistically still available.
- Debt replacement is the trap. If the relinquished property carried a mortgage, you must replace that debt or add cash to fully defer gain. Where lender pricing sits above the asking cap rate, financed acquisitions run negative leverage.
- Term should match your hold. If you plan to hold through the next exchange or pass the asset to heirs, prioritize term and options over 25 basis points of cap rate.
- Certainty of closing matters more than price. A clean estoppel, a current lease and no pending relocation are worth paying for on a 45-day clock.
For identification mechanics, timelines and the NNN, DST and UPREIT alternatives, see the 1031 exchange into investment grade property guide.
Harbor Freight NNN Due Diligence Checklist
These are the items that change the value of a Harbor Freight listing and are rarely resolved by the offering memorandum.
- Rent to market. Confirm the contract rent is at or below market for the space. Above-market rent on a big box is the most common way buyers lose money in this category.
- Reuse and demisability. Assess whether the box can be subdivided and whether zoning, parking ratios and the REA permit it.
- Roof, structure and parking. Large footprints mean large capital items. Obtain inspections and price reserves.
- Term and options. Verify remaining term and whether options renew at fixed or market rent.
How Investment Grade Works With Harbor Freight Buyers
Investment Grade Income Property, LP is a licensed commercial real estate brokerage providing national advisory on acquisitions and dispositions of net lease property, with Broker of Record co-listing partnerships in all 50 states. On a Harbor Freight acquisition we screen the live inventory against your criteria, pull the lease abstract behind any listing you want to pursue, benchmark the asking cap rate against the distribution above, and negotiate on your side of the table through closing. On most transactions there is no separate fee to the buyer because compensation is paid from the transaction by the listing side. Where that is not the case we disclose it in writing before you engage.
Owners of existing Harbor Freight properties can use this page as a valuation benchmark. If you are weighing a sale, an off-market disposition to a qualified 1031 buyer often closes faster and with less retrading than a broad marketing process.
Frequently Asked Questions
How many Harbor Freight NNN properties are for sale right now?
As of October 2, 2026, 26 single-tenant Harbor Freight net lease properties are observed for sale across 18 states. The count updates automatically as listings are added and removed.
Is Harbor Freight investment grade?
Harbor Freight Tools USA, Inc. carries long-term issuer ratings of BB- (Positive outlook) from S&P Global Ratings, which is below the BBB-/Baa3 investment grade threshold. Ratings checked September 27, 2026.
What cap rate do Harbor Freight NNN properties sell at?
The current median asking cap rate is 6.66%, with the inventory ranging from 4.82% to 8.76%. Longer term, stronger markets and absolute NNN structures price at the tight end.
How much does a Harbor Freight NNN property cost?
The median asking price in the current inventory is $3.95M, with listings from $1.09M to $15.03M. About 38% fall between 1.5 and 3.5 million dollars.
Who signs the lease on a Harbor Freight property?
Harbor Freight stores are company-operated. The company is privately held and its agency ratings sit below investment grade, so the rent should be underwritten as a speculative grade obligation. Stores are midsize retail boxes, frequently second-generation space in existing centers rather than new pads.
Working a Harbor Freight acquisition or a 1031 identification deadline? Register on any listing above for full property data and a due diligence review, or email steve@investmentgrade.pro with your price range, target states and closing timeline and we will screen the live inventory for you.
