ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Pensacola, FL – NN Lease

901 Airport Boulevard
Sold

SOLD PRICE: $3,550,000
CAP RATE: 7.49%

PROPERTY HIGHLIGHTS:

  • PROMINENTLY POSITIONED — New 2015 construction on a hard corner at signalized intersection (combined 65K cars ADT); located within major retail corridor approximately one mile from Cordova Mall, the preeminent shopping center in Northwest Florida (836K sf)
  • 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 lease with fixed rent increases and minimal landlord responsibilities; Florida has no state income tax
  • EXCELLENT LOCATION — Pensacola is the principal city of the Pensacola metropolitan area and is home to some of the most beautiful beaches in the world
  • LARGE TRADE AREA — Over 62,500 households and 150,000 people, with an average household income of $58K+, within five miles of the property
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$3,550,000

7,000 sf

Price:

$3,550,000

Cap Rate:

7.49%

Building Size:

7,000 sf

SF Land Area:

0.63 acres

Current NOI:

$266,000

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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