Winchester Sleep Outfitters

Lot Area: .98 acres Zip Code: 40391

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))

NOI:              $90,000

Terms:         6 years; 3 months (primary term expiration is March 31, 2026)

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David Graves

David Graves is a founding Partner and Principal Broker of Cypress Property Group. He comes from a long line of industry experts - specializing in architecture, development and property management – which inspired an enthusiasm for all disciplines of commercial real estate at an early age. Over the years, that enthusiasm has evolved into an irrefutable passion. Integrity, ingenuity and…

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