Property details
1031 Exchange Properties, Southwest Region
Property Description
1031 Exchange Properties with Mattress Firm as the tenant. Located immediately west of a Mall. A shopping center is located directly across the Interstate from the property includes tenants such as PetsMart, Sports Authority, Old Navy, Michael's and Conn's. Home Depot and Sam's Club are located on the property adjacent to the Shopping Center.
Considered one of our better NNN 1031 exchange properties.
Houston based Mattress Firm operates more than 440 company-owned and franchised stores in 36 markets in 22 states which generate sales in excess of $475 million. Employees 600 people and is the #1 seller of Sealy brand mattresses in the country.
Images
Highlights
- Status:
- Available
- Price:
- $5,381,923
- PSF:
- $385
- Cap Rate:
- 6.50%
- Annual Rent:
- $349,825
- Rent Increases:
- Yrs 1-5 $25/psf
Yrs 6-10 $27/psf
Property Information
- Building Size:
- 13,993 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Retail
- Units/Spaces:
- 1
- Land Area:
- 1.65 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Mattress Firm
- Lease Type:
- NNN
- Lease Commencement:
- 1/1/2008
- Lease Expiration:
- 1/1/2030
- Lease Term:
- 22 years
- Years Remaining:
- 21 years
- Landlord Responsibilities:
- None - NNN 1031 Exchange Properties
- Options:
- Yrs 11-15 $30.50/psf
Yrs 16-20 $33.50/psf
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.