Listed by Northmarq - Tulsa
$3,723,077
Sleep Number
Details
APN 22-07-351-006-0000
Property Type Retail
Sub Type Storefront
Square Footage 4,000
Cap Rate 6.5%
NOI $242,000
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 15.8
Lease Expiration 10/31/2032
Remaining Term 6.3
Lease Options 1 x 5 years
Price per SqFt $931
Year Built 2016
Buildings 1
Acreage 0.680
Investment Type Net Lease
Lease Commencement 01/26/2017
Retail | 6.50% CAP | 4,000 SqFt
Marketing description
Northmarq is pleased to present the opportunity to acquire a fee simple interest in a single-tenant retail asset leased to Sleep Number, located at 5304 S. State Street, in Murray, Utah. The offering features a 4,000 square foot freestanding building situated on a 0.68-acre parcel. The tenant operates under an NN lease with minimal Landlord responsibilities, ±6 years of base term remaining and a corporate guarantee, creating a passive investment structure with great real estate.
Investment highlights
- Adjacent to Costco & One of the Largest Medical Centers in Utah
- Recent 5-Year Lease Extension Executed by Tenant
- Irreplaceable Hard Corner Location with High Visibility and Traffic Exposure
- Incredibly Dense & Affluent Trade Area with Strong Demographics
- Central Location within the Salt Lake City MSA
- Corporate Guarantee by Sleep Number (NASDAQ: SNBR)
Listing Contacts
Listed by Northmarq - Tulsa
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$242,000.00
$20,166.67/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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