Sleep Number

1767 North Highway 17, Mount Pleasant, SC 29464

$3,697,000

Cap Rate 6.25%

Views: 77 DOM: 84 Updated: 11.11.24 Posted: 08.29.24 Status: Active

Summary

Price $3,697,000	Built/Renov 2019	Tenant Sleep Number
Cap Rate 6.25%	Lease Type NN+	Guarantor Corp Traded
Size/SF 3,500	Lease Start 06-29-2019	#Units 672
Price/SF $1,056.29	Expiration 06-30-2029	Tenant Type General Retail
NOI $231,044	R. Term 4.7	Ownership Fee Simple
Rent/SF $66.01	Increases 10.0%/5/yrs	Pop 5Mi 89,935
Lot/AC 0.42	Options 2/5yrs/10%	AHHI 5Mi $154,447

Lease Highlights

Sleep Number has 4+ years remaining on the current lease term with 2 (5-year) options to extend
The lease features 10% rental increases at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease (NASDAQ: SNBR)

Location Description

Sleep Number is strategically located on Highway 17, with access to a high daily traffic count of 51,279 vehicles. The property is directly across from Indigo Square and adjacent to Mount Pleasant’s Town Center, surrounded by well-known national tenants including Publix, AT&T, Lowe’s, Belk, Regal Cinemas, Athleta, Lululemon, Raising Cane’s, and more. Key community educational institutions in...

...

Key Features

New construction
High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Affluent AHHI $100K 5 Mi
Favorable NN+ lease
Corporate Guarantee
Publicly traded company

...

Links

Sleep Number Wikipedia Sleep Number Wikipedia Mount Pleasant, South Carolina Zip Code 29464 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Sleep Number
Guarantor:Corp Traded
Company:Sleep Number Corporation
# Units:672
Stock: NASDAQ: SNBR

About Tenant

Sleep Number Corporation (NASDAQ: SNBR) is an American manufacturer that makes Sleep Number and Comfortaire beds, as well as foundations and bedding accessories. The company specializes in the...

...

Listing Broker

Clifton McCrory

Sands Investment Group

Contact

37 Listings
2709 Views
4 Sold

Chris Sands

Sands Investment Group

Contact

10 Listings
1206 Views
2 Sold

Clifton McCrory

Sands Investment Group is a commercial real estate brokerage firm that specializes in the buying and selling of investment properties for private investors and institutions across the United States. Since its founding in 2010, SIG has closed over 4,100 plus transactions worth more than $8 Billion in 48 states. Advisors with the company currently have over $1.4 billion in active inventory. As a leader in the industry, SIG was first to offer true sub-product type specialization. The firm’s experi

...

Chris Sands

In 2010 Chris set out to form Sands Investment Group, a firm that would focus on buying and selling net lease properties. His vision was to lead a highly specialized and knowledgeable company able to provide clients with a level of service unprecedented in the industry. A few short years later, the result is one of the fastest growing and most successful net lease companies in the country, with advisors that are among the most distinguished and sought after in the industry. Born and raised in

...

Dan Hoogesteger

Sands Investment Group

Contact

24 Listings
1715 Views
3 Sold

Dan Hoogesteger

Daniel S. Hoogesteger is the Managing Director of SIG’s West Coast headquarters in Santa Monica, CA. Prior to being a founding member of SIG, Daniel began his career in 2002 at Faris Lee Investments and has a tenured resume at firms including Marcus & Millichap & CB Richard Ellis. His resume includes representing many of the largest institutional, private capital & development companies in the acquisition & disposition of commercial real estate assets. Daniel leads SIG’s big

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT