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Views: 45 DOM: 37 Updated: 11.08.24 Posted: 10.15.24 Status: Active

Summary

Price $2,308,000
Built/Renov 1968/2013
Tenant Mattress Warehouse
Cap Rate 6.50%
Lease Type NN+
Guarantor Corporate
Size/SF 12,000
Lease Start 01-01-2025
#Units 300
Price/SF $192.33
Expiration 12-31-2034
Tenant Type General Retail
NOI $150,000
R. Term 10.1
Ownership Fee Simple
Rent/SF $12.50
Increases 10.0%/5/yrs
Pop 5Mi 64,772
Lot/AC 3.28
Options 3/5yrs/10%
AHHI 5Mi $95,388

Lease Highlights

  • Set to open in January 2025, Mattress Warehouse will operate on a  new 10-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years the primary term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Mattress Warehouse is strategically located on Landis Avenue, the main thoroughfare, with daily access to 17,900 vehicles. The property is adjacent to notable national retailers including ShopRite, Lidl, and Walmart Supercenter, which collectively attracted 2.8 million visits over the past year (Placer.ai). Additionally, it is situated less than 1.5 miles east of exits 32A and 32B off State...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Mattress Warehouse is a leading retailer specializing in mattresses and sleep products, including bed frames, pillows, sheets, and adjustable bases. The company offers a wide selection of top...


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Listing Broker

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