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Sleep Number
1024 Alcoa Market Street, Maryville, TN 37801
$2,200,000
Cap Rate 6.00%
Summary
| Price $2,200,000 | Built/Renov 2023 | Tenant Sleep Number |
| Cap Rate 6.00% | Lease Type
NN+ | Guarantor Corp Traded |
| Size/SF
3,000
| Lease Start
09-01-2023
| #Units
670
|
| Price/SF $733.33 | Expiration
08-31-2033
| Tenant Type General Retail |
| NOI $132,000 | R. Term 9.8 | Ownership Fee Simple |
| Rent/SF
$44.00
| Increases 10.0%/5/yrs | Pop 5Mi 79,088 |
| Lot/AC 1.08 | Options 2/5yrs/10% | AHHI 5Mi $83,776 |
| | |
Lease Highlights
- Brand-new construction, opening September 2023
- Tenant will execute a brand new 10-year lease with 2 (5-year) options to extend
- Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
- Favorable NN+ | Minimal landlord responsibilities (roof and structure) includes transferrable roof warranty
- Corporate guarantee by Sleep Number (NASDAQ: SNBR)
Location Description
This newly constructed 3,000 square foot Sleep Number is located at the signalized, hard corner intersection of Alcoa Market Street and Middlesettlements Road and benefits from multiple points of ingress/egress. The subject property is part of a larger development that will feature over 16,800 SF of retail space, a fully leased 192-unit apartment complex, as well as neighboring tenants such as...
...Features
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New construction
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Signalized intersection
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Shopping Ctr out-parcel
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Highway close
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New development zone
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Income tax free state
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Long 10+ yr lease
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Favorable NN+ lease
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Corporate Guarantee
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Publicly traded company
...
Maps
Tenant
- Tenant: Sleep Number
- Guarantor:Corp Traded
- Company:Sleep Number
- # Units:670
- Stock:NASDAQ: SNBR
About Tenant
Sleep Number Corporation, founded in 1987, is an American manufacturer that makes the Sleep Number and Comfortaire beds, as well as foundations and bedding accessories. Sleep Number products are...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 3,869 | 31,885 | 66,338 |
| 2023 Total Population : | 3,878 | 31,127 | 64,673 |
| 2023 Employed Civilian Pop : | 1,873 | 14,349 | 29,609 |
| 2023 Total Businesses : | 130 | 820 | 2,239 |
| 2023 Average Household Income : | $ 86,491 | $ 91,945 | $ 86,387 |
| 2023 Total Consumer Spending : | $ 118 M | $ 1004 M | $ 1939 M |
| 2023 Median Age : | 46 | 44 | 44 |
| 2023 Total Households : | 1,559 | 12,565 | 25,772 |
| 2023 Pop Age 25+: Bachelor's Degree : | 575 | 4,352 | 8,428 |
| 2023 Average Home Value : | $ 364,427 | $ 348,193 | $ 337,013 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Old Niles Ferry Road | Willis Rd | 2022 | 5,607 | 0.23 mi |
| Fairview Drive | Willis Dr | 2022 | 8,456 | 0.26 mi |
| Peterson Lane | Sentell Dr | 2022 | 3,317 | 0.66 mi |
| William Blount Drive | Clover Hill Ridge Rd | 2022 | 10,617 | 0.74 mi |
| SR 335 | Clover Hill Ridge Rd | 2021 | 11,669 | 0.74 mi |
| Sandy Springs Road | Westcliff Dr | 2022 | 10,368 | 1.36 mi |
| Cedar Lawn Blvd | 2022 | 26,232 | 1.60 mi | |
| Ridgeway Trl | 2021 | 30,462 | 1.60 mi | |
| W Broadway Ave | Condry Ln | 2005 | 32,760 | 1.66 mi |
| SR 335 | County Farm Rd | 2021 | 9,856 | 1.66 mi |
