ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Miramar Beach, FL – NN Lease

11150 US Highway 98 W
Sold

SALE PRICE: $2,960,000
CAP RATE: 6.53%

PROPERTY HIGHLIGHTS:

  • PROMINENTLY POSITIONED — New 2016 construction located along primary thoroughfare U.S. Highway 98 (46.9K ADT). Approximately 1/2 mile from Silver Sands Premium Outlets — one of the nation’s largest designer outlet centers — with 451K SF GLA & 110 designer & name-brand outlet stores.
  • ESTABLISHED TENANT — Mattress Firm is a national tenant with the largest geographic footprint in the U.S. (2,295 locations) among multi-brand mattress specialty retailers.
  • ATTRACTIVE INVESTMENT — New 11-year, corporate-guaranteed lease with fixed rent increases and minimal landlord responsibilities; Florida has no state income tax.
  • YEAR-ROUND MARKET — Miramar Beach features 3 distinct markets: permanent residents, secondary homeowners & approximately 17 million annual visitors. The region benefits from a year-round season since it is a favorite area for coastal second homes. The average household income is $90K+ within 5 miles of the property.
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$2,960,000

5,600 SF

Price:

$2,960,000

Cap Rate:

6.53%

Building Size:

5,600 SF

SF Land Area:

1.75 acres

Current NOI:

$193,200

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Brett Sheldon

(919) 391-9903

Download Offering Memorandum
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