ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Mattress Firm – Winter Haven, FL – NN Lease

113 Cypress Gardens Boulevard
Sold

SALE PRICE: $2,437,500
CAP RATE: 6.40%

PROPERTY HIGHLIGHTS:

  • EXCELLENT LOCATION — New 2016 construction within dense retail area along Cypress Gardens Blvd. with high traffic counts (43.5K ADT). Adjacent to Colonial Promenade center (280K+ SF; Walmart Supercenter anchored). Approximately 3 miles from Legoland Florida theme park & resort.
  • 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, corporate-guaranteed lease with fixed rent increases and minimal landlord responsibilities; Florida has no state income tax.
  • LARGE TRADE AREA — Over 97,500 people, with an average household income of nearly $56K, within 5 miles of the property. Winter Haven is centrally located between Tampa and Orlando. Proximity to major routes US-92 & I-4 provide easy access to area attractions including Walt Disney World, SeaWorld & Universal Studios.
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$2,437,500

4,000 SF

Price:

$2,437,500

Cap Rate:

6.4%

Building Size:

4,000 SF

SF Land Area:

0.44 acres

Current NOI:

$156,000

Lease Type:

NN

Remaining Term:

Eleven (11) Years

Status:

Closed

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Download Offering Memorandum
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