SOLD PRICE: $2,145,000
CAP RATE: 6.44%
- 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.
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