ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Tallahassee, FL – NN Lease

1814 W. Tennessee Street
Sold

SALE PRICE: $2,163,400
CAP RATE: 6.5%

  • PROMINENTLY POSITIONED — New 2016 construction near other national retailers along Tennessee Street/Rte. 90 (45,500 cars ADT); located half a mile from Florida State University campus
  • 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 — Tallahassee, the capital of Florida, is 20 miles north of the Gulf of Mexico and 14 miles south of the Georgia state line
  • LARGE TRADE AREA — Over 63,000 households and 155,000 people, with an average household income of $49K+, within five miles of the property
  • There are no features available

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$2,163,400

4,113 sf

Price:

$2,163,400

Cap Rate:

6.50%

Building Size:

4,113 sf

SF Land Area:

0.58 acres

Current NOI:

$140,623

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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