Address: 113 Cypress Gardens Blvd, Winter Haven, Florida, United States 33880
Cap Rate: 6.75%
Lease Type: Double-Net (NN)
Annual Rent: $148,000
Net Operating Income: $148,000
Rentable Sq/Ft: 4,000 SF
Rent Sq/Ft: $37
Price Sq/Ft: $548
Lot Size: +/- 0.44
Marcus & Millichap is pleased to present the exclusive listing for a Mattress Firm located at 113 Cypress Gardens Blvd in Winter Haven, FL. The property consists of 4,000 square feet of building space and is situated on approximately 0.44 acres of land. The property is subject to an 11-year double-net (NN) lease with more than 6 years remaining on the initial term, which requires zero landlord responsibility. The lease calls for an annual rent of $148,000, with rental increases occurring in each of the two (2), five (5)-year option periods.
This subject Mattress Firm property is located at 113 Cypress Gardens Blvd in Winter Haven, FL. Winter Haven is a city located in central Florida between Orlando and Tampa.
SURROUNDING RETAIL & POINTS OF INTEREST
The subject property benefits from being located in an area with a very strong retail and restaurant presence. There are many nationally recognizable tenants in the area immediately surrounding the subject property, including: Walmart, Taco Bell, Burger King, Applebee’s, Dollar General, Starbucks, Panera, Chick-fil-A, Outback, Red Lobster, Chipotle, Publix, McDonald’s, and CVS. In addition to these numerous retail and restaurant concepts, the subject property benefits from its close proximity to the Chain O’ Lakes Complex, which is a large sports facility featuring numerous attractions including a pool and several baseball fields. The subject property is also located less than one mile from Winter Haven Senior High School, which is one of the largest high schools in the area, with a total enrollment of approximately 2,500 students.
TRAFFIC COUNTS & DEMOGRAPHICS
There are nearly 43,000 individuals that reside within a three-mile radius of the subject property and 100,000 that reside within a five-mile radius. This Mattress Firm is located along Cypress Gardens Blvd, which has an average daily traffic count of 32,000 vehicles. Nearby 3rd St and 1st St also bring a total of 28,000 and 21,000 vehicles, respectively, into the immediate area, on average, each day.
WINTER HAVEN, FL
The city of Winter Haven is located in Polk County, which sits in the center of the state of Florida roughly 40 miles southwest of Orlando and fifty miles east of Tampa. The city is known throughout the state and beyond for its 50 lakes encompassed in the within its borders, including its famous Chain of Lakes, and as a result the city bills itself as “The Chain of Lakes City”. The lakes throughout the city are home to a wide array of wildlife, attracting tourists to see animals such as alligators, bald eagles, great blue herons, and more. In addition to this, the city is world-renowned amongst the bass fishing community and attracts a large number of bass fishermen each year. Once known as being a retirement city, the chamber of commerce has made significant strides to revitalize the city in recent year, transforming it into a renaissance city.
FL BROKER OF RECORD: Ryan Nee FL: BK3154667