Mattress Firm / Visionworks Slidell, LA - NN Lease

Retail-Commercial for Sale
Catylist Listing ID: 30264924
Property Subtypes: Free-Standing Building
Building Size (RSF): 6,925 SF
Gross Land Area: 40,685 SF
Sale Price: $3,302,857
Unit Price: $476.95 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Mattress Firm / Vision Works
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 7/17/2018

Overview / Comments

https://www.crexi.com/properties/101651

•Corporate Guarantee from Mattress Firm with an Investment Grade Credit Rating by Moody’s of Baa3
•Mattress Firm has a 10-year lease—expiring 5/31/26—with 10% rent increases every 5 years and two (2) five year options to extend
•Corporate Guarantee from Visionworks, a wholly owned subsidiary of HVHC, Inc. family of diversified business
•Visionworks has a 10 year lease—expiring 11/30/27—with 10% rent increases every 5 years and three (3) five year options to extend
•Long term NN lease investments with minimal landlord responsibilities
•Located Immediately off the I-10 interstate highway, adjacent to the newly developed Towne Place Suites by Marriott, and across from the Fremaux Town Center – an 80 acre center anchored by a Dillard’s, Kohl’s, Best Buy and Dick’s Sporting Goods

Additional Details

Nearest MSA: New Orleans-Metairie
County: Saint Tammany
Retail Clientele: General, Family, Recreation
Property Located Between: Across from Fremaux Town Center
Property Visibility: Good
Area Description: Located immediate off the I-10 interstate highway.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2016
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,695 51,729 78,832
Median Age: 39.79 37.27 38.11
Households: 1,729 18,884 29,356

Contact

Photograph of Listing Agent

Steven R Reisig

SRSA Commercial Real Estate Metairie, LA 70002
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.