ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Sarasota, FL – NN Lease

1964 Marcia Street

ASKING PRICE: $2,229,675
CAP RATE: 6.20%

PROPERTY HIGHLIGHTS:

  • VISIBLE RETAIL SITE — New construction corner location at the intersection of Marcia St. & Tamiami Trl. (39K+ combined ADT), a major north-south route through the city. Directly across from Target & Publix anchored shopping center, and 1/2 mile from Westfield Sarasota Square Mall (1M+ SF GLA; 4.3M annual customer visits).
  • ESTABLISHED TENANT — Mattress Firm has the largest geographic footprint in the U.S (3,600+ locations in 49 states) among multi-brand mattress specialty retailers.
  • ATTRACTIVE INVESTMENT — New 11-year, corporate-guaranteed lease with fixed 10% rent increases and minimal landlord responsibilities.
  • ACCESSIBLE, EXPANSIVE TRADE AREA — Nearly 87,000 people, with an average household income of $90K+ and an estimated total annual household expenditure of $2.85B, within five miles of the site. Trade area population of approximately 377K people. Close proximity to other major metropolitan areas including Tampa & Miami with accessibility via I-75.
  • DESIRABLE LOCATION — Tourism contributes significantly to the Sarasota area economy, with warm climates and its coastline location along the Gulf of Mexico creating a popular beach, golf and sport fishing destination.
  • There are no features available

$2,229,675

4,500 SF

Price:

$2,229,675

Cap Rate:

6.20%

Building Size:

4,500 SF

SF Land Area:

0.63 acres

Current NOI:

$138,240

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Under Contract

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
Back to top