Sleep Number & The Vitamin Shoppe

$3,244,844
Price
$207,670
Noi
6.40%
Cap Rate
5,200
Leasable Area
2016
Year Built

Fortis Net Lease is pleased to present this 5,200 SF. Sleep Number and The Vitamin Shoppe building located in Port Charlotte, Florida. The property offers Double Net (NN) Leases with minimal landlord responsibilities. Each lease has 4.5 Years remaining on the primary term and offers 2 (5 Year) Options to renew, each with a rental rate increase. Each lease is corporately guaranteed. Both stores have been open & operating successfully since October of 2016.

This 2 tenant retail building is highly visible as it is strategically positioned on Tamiami Trail which sees 51,222 cars per day. It is an outparcel to a Dollar Tree (this store ranks in the top 20% performing in the country), Staples (this store ranks in the top 12% performing in the country), & Books-A-Million anchored shopping center. Located in a dense retail hub near Port Charlotte Town Center (2.4 Million Visitors/Year) and surrounded by national retailers – this is an incredible location. The five mile population from the site is 84,198 while the one mile average household income is $51,897 per year, making this location ideal for a Dollar General. This area is experiencing great growth with the 5 mile population growth rate at 6.94%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a 2 tenant retail center. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenants.

INVESTMENT HIGHLIGHTS
• 10 Year Double Net (NN) Leases | 4.5 Yrs Remain on Primary Term
• Minimal Landlord Responsibilities
• 2 Tenant Retail Building in Dense Retail Hub
• Outparcel of Dollar Tree, Staples, & Books-A-Million Anchored Shopping Center | Strong Performing Stores
• Surrounded by National Retailers (Lowes, Walmart, Home Goods, Total Wine, & More)
• 2 (5 Year) Options | Increases At Each Option
• One Mile Household Income $51,987
• Five Mile Population 84,198 | Expected 6.94% Growth
• 51,222 Cars Per Day on Tamiami Trail
• Less Than 1 Mile to Port Charlotte Town Center | 2.4 Million Visitors/Year

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.

CONTACT US REGARDING THIS LISTING

BRYAN BENDER

Partner

Ben Schultz

Senior Director

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