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Views: 147 DOM: 125 Updated: 10.15.24 Posted: 07.19.24 Status: Active

Summary

Price $2,617,851
Built/Renov 2024
Tenant Sleep Number
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp Traded
Size/SF 2,830
Lease Start 10-01-2024
#Units 672
Price/SF $925.04
Expiration 10-31-2034
Tenant Type General Retail
NOI $176,705
R. Term 9.11
Ownership Fee Simple
Rent/SF $62.44
Increases 10.0%/5/yrs
Pop 5Mi 63,075
Lot/AC 0.48
Options 2/5yrs/10%
AHHI 5Mi $126,718

Lease Highlights

  • Brand-new 2024 construction
  • New 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Corporate guaranteed lease (NASDAQ: SNBR)

Location Description

Sleep Number is strategically located near the signalized, hard corner intersection of Troy Road and Goshen Road, with access to a combined daily traffic count of 32,541 vehicles. The property enjoys multiple access points and operates as an outlot adjacent to Home Depot, surrounded by well-known national retailers such as Target, Sam's Club, and Lowe's. Additionally, a new Meijer grocery...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 7,141 39,477 62,567
2024 Total Population : 7,196 39,613 63,075
2024 Employed Civilian Pop : 3,806 19,879 31,696
2024 Total Businesses : 401 1,630 2,263
2024 Average Household Income : $ 153,501 $ 130,111 $ 126,718
2024 Total Consumer Spending : $ 383 M $ 1684 M $ 2665 M
2024 Median Age : 39 36 38
2024 Total Households : 2,897 14,901 24,203
2024 Pop Age 25+: Bachelor's Degree : 1,611 7,971 12,558
2024 Average Home Value : $ 361,829 $ 366,781 $ 344,613
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Troy Road 2016 23,200 0.04 mi
Troy Rd M C T Goshen Trl 2011 23,600 0.05 mi
Goshen Rd Troy Rd 2011 10,900 0.10 mi
Troy Rd Goshen Rd 2011 22,500 0.13 mi
Center Grove Rd M C T Goshen Trl 2011 8,600 0.14 mi
Old Troy Rd Hunters Crossing Dr 2011 7,600 0.21 mi
Whistle Stop Dr Troy Rd 2011 1,200 0.22 mi
Kettle River Dr Troy Rd 2011 5,100 0.22 mi
Troy Rd Whistle Stop Dr 2011 22,900 0.24 mi
Troy Rd Lavelle Dr 2011 22,500 0.30 mi

Listing Broker

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