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Views: 113 DOM: 401 Updated: 06.17.24 Posted: 10.18.23 Status: Active

Summary

Price $30,000,000
Built/Renov 2023
Tenant Floor & Decor
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 80,000
Lease Start 10-01-2023
#Units 221
Price/SF $375.00
Expiration 09-30-2043
Tenant Type Big Box Retail
NOI $1,800,000
R. Term 18.10
Ownership Fee Simple
Rent/SF $22.50
Increases 10.0%/5/yrs
Pop 5Mi 145,210
Lot/AC 5.10
Options 4/5yrs/10%
AHHI 5Mi $208,843

Lease Highlights

  • Brand new 2023 construction
  • Floor & Decor recently signed a brand-new 20-year lease with 4 (5-year) options to extend
  • Lease features 10% rental increase eery 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Floor & Decor Holdings, Inc (NYSE: FND)

Location Description

Floor and Decor property consists of a brand-new, 80,000-square-foot freestanding retail building on a 5.10-acre parcel of land. It is located directly on Midland Ave (13,186 VPD) and enjoys excellent access to and from Interstate 95 (146,758 VPD) and Interstate 287 (92,760 VPD), two major highway systems connecting the NYC metro. The property is at the center of a dense retail corridor that...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Floor & Decor
  • Guarantor:Corp T and Rated
  • Company:Floor & Decor Holdings, Inc
  • # Units:221
  • Tenant S&P: BB
  • Moody’s: Ba3
  • Stock: NYSE: FND

About Tenant

Floor & Decor Holdings, Inc. (dba Floor & Decor) is a leading specialty retailer and commercial distributor of hard surface flooring. The company offers a broad assortment of in-stock...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 25,930 82,293 146,623
2023 Total Population : 25,282 82,085 145,217
2023 Employed Civilian Pop : 13,246 42,321 72,628
2023 Total Businesses : 1,422 4,380 9,249
2023 Average Household Income : $ 134,318 $ 194,693 $ 212,788
2023 Total Consumer Spending : $ 987 M $ 4791 M $ 9145 M
2023 Median Age : 36 40 41
2023 Total Households : 8,600 29,313 51,447
2023 Pop Age 25+: Bachelor's Degree : 4,011 16,566 31,225
2023 Average Home Value : $ 834,888 $ 1,000,660 $ 1,041,076
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Boston Post Road S Regent St 2021 23,703 0.25 mi
I- 287 2021 1,849 0.26 mi
Grace Church Street Midland Ave 2021 5,165 0.27 mi
I- 287 Midland Ave 2016 53,431 0.28 mi
Midland Avenue Manursing Ave 2021 10,696 0.28 mi
I- 287 2021 4,464 0.29 mi
Boston Post Rd 2021 14,970 0.29 mi
I- 287 2021 5,036 0.29 mi
High St 2018 25,427 0.30 mi
I- 287 I- 95 2011 3,554 0.31 mi

Listing Broker

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