Commercial Building

$ 2.608.615,00

Marcus & Millichap is pleased to present the exclusive listing for a Mattress Firm located at 2392 W US Hwy 90, Florida. The site consists of roughly 4,500 rentable square feet of building space on estimated 0.36-acre parcel of land. This Mattress Firm is subject to a 10-year double-net (NN) lease, which added three (3) years of additional lease term in 2020. The current annual rent is $169,560 and is scheduled to increase by ten percent (10%) in each of the two (2), five (5)-year renewal options.

  R F I  

Seller Location: United States (US), FL, West Palm Beach

SKU: 80A2386C Categories: ,

Description

LMattress Firm2392 W US Highway 90

4,500 SF Retail Building Lake City, FL. $2,608,615 ($580/SF)6.50% Cap Rate

INVESTMENT HIGHLIGHTS

  • Long-Term, Original 10-Year Double Net (NN) Lease
  • Approximately 5.8 Years Remaining
  • Roof Warranty in Effect Until 2029
  • Three (3) Years of Additional Lease Term Added in 2020

EXECUTIVE SUMMARY

Marcus & Millichap is pleased to present the exclusive listing for a Mattress Firm located at 2392 W US Hwy 90, Florida. The site consists of roughly 4,500 rentable square feet of building space on estimated 0.36-acre parcel of land. This Mattress Firm is subject to a 10-year double-net (NN) lease, which added three (3) years of additional lease term in 2020. The current annual rent is $169,560 and is scheduled to increase by ten percent (10%) in each of the two (2), five (5)-year renewal options.

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

4,500 SF

Building Class

B

Year Built

2014

Price

$2,608,615

Price Per SF

$580

Cap Rate

6.50%

NOI

$169,560

Tenancy

Single

Building Height

1 Story

Building FAR

0.29

Land Acres

0.36 AC

Opportunity Zone

No

Parking

20 Spaces (4.44 Spaces per 1,000 SF Leased)

Frontage

150 FT on W Us-90

PROPERTY TAXESmejoras Valoración $310,461

Tasación de terrenos $190,575 Tasación total $501,036

Improvements Assessment

$310,461

Land Assessment

$190,575

Total Assessment

$501,036

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Current Price:

$ 2.608.615,00

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Price History:

Type Price When
Current $ 2.608.615,00 Jun 16, 2024
Highest* $ 2.608.615,00 Apr 18, 2024
Lowest* $ 2.608.615,00 Apr 18, 2024
Average $ 2.608.615,00

Last 5 price changes:

Date Price
June 16, 2024, 12:00 am $ 2.608.615,00
June 15, 2024, 12:00 am $ 2.608.615,00
June 14, 2024, 12:00 am $ 2.608.615,00
June 13, 2024, 12:00 am $ 2.608.615,00
June 12, 2024, 12:00 am $ 2.608.615,00

Additional information

Year Build

Buyer Industry Sector

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2393 S Congress Av, #223, West Palm Beach, Florida United States (US) - 33406
a.cabezas@sevendenegocio.com.ve
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