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Updated: 03.26.24 Posted: 10.30.23 Status: Sold

Summary

Price $2,963,000
Built/Renov 1976
Tenant Badcock Home Furniture
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 12,946
Lease Start 04-01-2024
#Units 17
Price/SF $228.87
Expiration 03-31-2039
Tenant Type General Retail
NOI $200,000
R. Term 13.10
Ownership Fee Simple
Rent/SF $15.45
Increases 2.0%/3/yrs
Pop 5Mi 108,694
Lot/AC 1.03
Options 4/5yrs/2%
AHHI 5Mi $100,006

Lease Highlights

  • Babcock Home Furniture recently signed a brand new 15-year lease with 4 (5-year) options to extend
  • Lease features 2% annual rental increases beginning in year 3 and continuing throughout the initial term and options
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by B2BP Retail LLC

Location Description

Badcock Home Furniture & More is strategically located near the signalized, hard corner intersection of Northwest Federal Highway and Northwest Baker Road, which supports over 61,000 vehicles per day. Furthermore, the site is positioned less than 1-mile south of Pineapple Commons, a 270,000 SF power center that’s home to Ross, Best Buy, Marshalls, Ashely HomeStore, Petsmart, and CVS, among...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Badcock Home Furniture & More (“Badcock”) is one of the largest home furniture retailers in the United States. Primarily through showroom stores in the southeastern United States (and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,616 41,472 112,320
2023 Total Population : 6,234 39,097 108,694
2023 Employed Civilian Pop : 3,209 17,282 47,362
2023 Total Businesses : 485 3,231 7,239
2023 Average Household Income : $ 107,515 $ 105,775 $ 100,006
2023 Total Consumer Spending : $ 260 M $ 1648 M $ 4161 M
2023 Median Age : 48 55 54
2023 Total Households : 2,821 18,055 48,139
2023 Pop Age 25+: Bachelor's Degree : 1,222 8,293 20,114
2023 Average Home Value : $ 411,156 $ 456,502 $ 425,220
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Northwest Federal Highway NW 16th Pl 2021 46,500 0.18 mi
Northwest Federal Highway NW Mall Entry S 2022 51,500 0.18 mi
Northwest Baker Road NW Charlie Green Dr 2022 5,800 0.36 mi
Northwest Baker Road NW Charlie Green 2021 5,800 0.36 mi
NW Federal Hwy NW River Shores St 2004 55,623 0.37 mi
NW River Shores St NW 10th Ter 2004 2,140 0.43 mi
NW Federal Hwy NW River Shores St 2005 57,500 0.50 mi
NW 21st St NW Federal Hwy 2004 56,988 0.51 mi
Northwest Pine Lake Drive NW Fork Rd 2022 2,300 0.60 mi
NW Spruce Ridge Dr NW Egret Ct 2002 449 0.60 mi

Listing Broker

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