Cypress Property Group is pleased to offer this exciting opportunity to the market. A 4,800 sq/ft retail building as well as additional acreage for another building. The Sleep Outfitters building sits on .50 acres and is surrounded by many national retailers and restaurants including Kroger, Lowe’s Home Improvement, UPS Store, Burkes Outlet, Tractor Supply Co, Starbucks, Sonic, Speeway and many more.
The building is currently operating by Sleep Outfitters which is owned and operated by TempurWorld, LLC, as subsidiary of TempurSealy International which is the largest bedding manufacturer in the world. Primary lease term has more than six (6) years remaining, with one five (5) year option to renew with increases.
Minimal landlord responsibilities, and tenant reimburses for Common Area Maintenance (CAM), Taxes and Insurance. Landlord only responsible for roof and structure. Building was completed in 2018, all new mechanicals and roof.
Price: $1,176,500 – SO Building / $250,000 – .48 Acre lot
CAP Rate: 7.65%
Tenants: TempurWorld, LLC (backed by TempurSealy: NYSE (TPX))
Terms: 6 years; 3 months (primary term expiration is March 31, 2026)