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