Mattress Warehouse

10520 U.S. 441, Leesburg, FL 34788

$2,697,000

Cap Rate 6.15%

Views: 32 DOM: 25 Updated: 08.22.24 Posted: 08.22.24 Status: Active

Summary

Price $2,697,000	Built/Renov 2000/2024	Tenant Mattress Warehouse
Cap Rate 6.15%	Lease Type Double NN	Guarantor Corporate
Size/SF 6,770	Lease Start 08-01-2024	#Units 300
Price/SF $398.38	Expiration 07-31-2034	Tenant Type General Retail
NOI $165,865	R. Term 9.10	Ownership Fee Simple
Rent/SF $24.50	Increases 10.0%/5/yrs	Pop 5Mi 49,929
Lot/AC 1.08	Options 3/5yrs/10%	AHHI 5Mi $75,530

Lease Highlights

Mattress Warehouse has 9+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and option periods
Landlord responsibilities limited to roof, structure & utilities beyond exterior of the premises
Corporate guaranteed lease

Location Description

Mattress Warehouse is strategically located on U.S. Highway 441, with access to 46,000 vehicles passing by daily. The property is across the street from Shoppes of Lake Village, a Publix-anchored shopping center that ranks in the top 69% of all nationwide neighborhood centers according to Placer.ai. Additionally, it is adjacent to Lake Square Mall, a regional mall anchored by Belk, AMC...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
Highway location
Strong tenant synergy
Top 100 MSA
Income tax free state
Brand new lease
Corporate Guarantee
Over 100 Units backed

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Links

Mattress Warehouse Wikipedia Leesburg, Florida Zip Code 34788 Broker Site Page Drone Video

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Mattress Warehouse
Guarantor:Corporate
Company:Wynnchurch Capital
# Units:300
Stock:Private

About Tenant

Mattress Warehouse is a leading retailer specializing in mattresses and sleep products, including bed frames, pillows, sheets, and adjustable bases. The company is known for offering a wide...

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Listing Broker

William Wamble

SRS National Net Lease Group

Contact

174 Listings
15594 Views
40 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

250 Listings
20807 Views
83 Sold

William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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