ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Tallahassee, FL – NN Lease

2657 North Monroe Street
Sold

SOLD PRICE: $2,225,000
CAP RATE: 6.29%

  • New 2015 construction
  • National tenant with the largest geographic footprint in the United States (2,100+ locations) among multi-brand mattress specialty retailers
  • Great location with 39,500 ADT & close to I-10 intersection; near other major retail including the Centre of Tallahassee redevelopment (755K+ sf of shops, dining, outdoor concert venue, etc.)
  • Florida has NO STATE INCOME TAX
  • 10% rent increases and options to extend lease
  • Over 208,000 people, with an average household income of $58K+, within 7 miles
  • Tallahassee is home to FSU & Florida A&M University and qualifies as a significant college town with a student population of 70,000+
  • There are no features available

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$2,225,000

4,752 sf

Price:

$2,225,000

Cap Rate:

6.29%

Building Size:

4,752 sf

SF Land Area:

0.62 acres

Current NOI:

$140,000

Lease Type:

NN

Remaining Term:

11 Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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