Mattress Firm

5620 W Sample Rd - Margate (Miami) FL 33073

LTV (Loan to Value)	65.00%	Current NOI	$109,835.00
Interest Rate	4.250%	Capital Rate	5.850%
Fixed Term	10 Years	Land Area	0.40 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$1,220,375.00	Property Type	Retail
Payment	$6,611.24	Property Lease	Home Furnishings
Bulding Size	5,000 SF	Remaining Terms	11 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a 5,000 square-foot freestanding Mattress Firm property on 0.40 acres, situated on an outparcel to a busy shopping center in Margate, Florida. Mattress Firm is operating under an original fifteen (15) year absolute NNN lease with eleven (11) years remaining. There are also two (2), five (5) year options remaining on the lease with 10% increases in each option period. The property is strategically located in the market of Margate, FL, situated to serve the tenant’s targeted demographic, with a population of 136,747 and an average household income of $67,649 within a three (3) mile radius.The property is 100% leased to Mattress Firm, the nation’s largest specialty bedding retailer, with approximately 2,200 stores across 40 states and over $1.52 billion in total revenues.

Highlights

Newly Extended Lease Term – Mattress Firm showed strong commitment to this location by recently extending their lease from 3…

Property Description

Margate is a city in Broward County, FL and is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which is home to 5,564,635 people. Founded in the 1950s by Jack Marqusee, it is believed that Margate derived its name as a contraction of its founder’s name and the word “gate” (denoting its status as the “gateway” to western Broward County).Today, Margate is a full-service City that continues to grow more populous, younger, and more diverse. As of the 2010 U.S. Census, the population was 53,284 and is expected to increase to 58,988 by 2018. In addition to its tree-lined streets and 30 miles of canals, Margate is home to a variety of family-owned businesses, several large chain stores and restaurants, and a top-rated hospital (Northwest Medical Center).