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Views: 61 DOM: 96 Updated: 06.25.24 Posted: 06.12.24 Status: Active

Summary

Price $24,075,000
Built/Renov 1992/2010
Tenant Floor & Decor
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 106,690
Lease Start 09-17-2021
#Units 221
Price/SF $225.65
Expiration 09-30-2036
Tenant Type Big Box Retail
NOI $1,444,500
R. Term 12.0
Ownership Fee Simple
Rent/SF $13.54
Increases 10.0%/2/yrs
Pop 5Mi 123,026
Lot/AC 10.88
Options 6/5yrs/10%
AHHI 5Mi $122,661

Lease Highlights

  • Floor & Decor has 12+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Roof warranty through 2028 | Installed in 2008
  • Corporate guaranteed lease

Location Description

Floor & Decor is strategically located on Pine Ridge Road, with access to 13,708 vehicles passing by daily. The property is surrounded by well-known national tenants including The Home Depot, Subway, Michaels, PetSmart, Mattress Firm, and more. The 5-mile trade area is supported by a population of 123,026 residents with an average household income of $122,661. Naples is a city in Collier...

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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 hard-surface...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,860 48,472 122,401
2023 Total Population : 6,042 49,813 125,830
2023 Employed Civilian Pop : 3,067 19,951 52,895
2023 Total Businesses : 1,486 5,150 10,972
2023 Average Household Income : $ 130,200 $ 162,213 $ 144,591
2023 Total Consumer Spending : $ 332 M $ 3433 M $ 7171 M
2023 Median Age : 55 61 55
2023 Total Households : 2,952 24,583 57,523
2023 Pop Age 25+: Bachelor's Degree : 1,642 12,853 29,192
2023 Average Home Value : $ 582,481 $ 895,019 $ 787,581
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Naples Boulevard Naples Blvd 2022 14,600 0.29 mi
Pine Ridge Road Woodshire Ln 2022 52,000 0.33 mi
Pine Ridge Road Forest Lakes Blvd 2021 50,500 0.34 mi
Airport Pulling Rd N Pine Ridge Rd 2005 44,500 0.54 mi
Pine Ridge Road Kensington Pk 2022 56,500 0.96 mi
Airport Pulling Road Arbour Walk Cir 2022 44,000 1.06 mi
Pine Ridge Road Pine Ridge Ct 2022 33,500 1.30 mi
Orange Blossom Drive Wellington Dr 2022 10,200 1.36 mi
Pine Ridge Rd La Costa Cir 2005 57,000 1.40 mi
Airport Pulling Road Bailey Ln 2022 39,000 1.52 mi

Listing Broker

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