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Floor & Decor (GL)
2157 Pine Ridge Road, Naples, FL 34109
$25,122,000
Cap Rate 5.75%
Summary
| Price $25,122,000 | Built/Renov 1992/2010 | Tenant Floor & Decor (GL) |
| Cap Rate 5.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
106,690
| Lease Start
04-30-2024
| #Units
197
|
| Price/SF $235.47 | Expiration
09-30-2036
| Tenant Type Big Box Retail |
| NOI $1,444,500 | R. Term 12.9 | Ownership Ground Lease |
| Rent/SF
$13.54
| Increases 10.0%/3/yrs | Pop 5Mi 125,830 |
| Lot/AC 10.88 | Options 6/5yrs/10% | AHHI 5Mi $144,591 |
| | |
Lease Highlights
- Floor And Decor has 12+ years remaining on the current lease term with 6 (5-year) options to extend
- Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN ground lease | Zero landlord responsibilities
- Corporate guarantee by Floor & Decor Holdings, Inc (NYSE: FND)
Location Description
Floor and Decor is located off the signalized, hard corner intersection of Pine Ridge Road and Naples Blvd., averaging a combined 72,000 vehicles passing by daily. It is also Ideally positioned off the I-75 and Pine Ridge Road exit (89,900 VPD), providing a direct on/off ramp access point for users. The dense trade is supported by several retail developments and big box retailers such as...
...Features
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Signalized intersection
-
Hard corner intersection
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High traffic 50M+ VPD
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Strategically located
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Major MSA
-
Income tax free state
-
Brand new lease
-
Absolute NNN
-
Traded and rated company
-
Corporate Guarantee
...
Maps
Tenant
- Tenant: Floor & Decor
- Guarantor:Corp T and Rated
- Company:Floor & Decor Holdings, Inc
- # Units:197
- Tenant S&P: BB
- Moody’s: Ba3
- Stock:NYSE: FND
About Tenant
Floor & Decor Holdings, Inc (dba Floor & Decor) is a leading specialty retailer and commercial distributor of hard surface flooring. The company offers a broad assortment of in-stock hard-surface...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 5,860 | 48,472 | 122,401 |
| 2023 Total Population : | 6,042 | 49,813 | 125,830 |
| 2023 Employed Civilian Pop : | 3,067 | 19,951 | 52,895 |
| 2023 Total Businesses : | 1,486 | 5,150 | 10,972 |
| 2023 Average Household Income : | $ 130,200 | $ 162,213 | $ 144,591 |
| 2023 Total Consumer Spending : | $ 332 M | $ 3433 M | $ 7171 M |
| 2023 Median Age : | 55 | 61 | 55 |
| 2023 Total Households : | 2,952 | 24,583 | 57,523 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,642 | 12,853 | 29,192 |
| 2023 Average Home Value : | $ 582,481 | $ 895,019 | $ 787,581 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Naples Boulevard | Naples Blvd | 2022 | 14,600 | 0.29 mi |
| Pine Ridge Road | Woodshire Ln | 2022 | 52,000 | 0.33 mi |
| Pine Ridge Road | Forest Lakes Blvd | 2021 | 50,500 | 0.34 mi |
| Airport Pulling Rd N | Pine Ridge Rd | 2005 | 44,500 | 0.54 mi |
| Pine Ridge Road | Kensington Pk | 2022 | 56,500 | 0.96 mi |
| Airport Pulling Road | Arbour Walk Cir | 2022 | 44,000 | 1.06 mi |
| Pine Ridge Road | Pine Ridge Ct | 2022 | 33,500 | 1.30 mi |
| Orange Blossom Drive | Wellington Dr | 2022 | 10,200 | 1.36 mi |
| Pine Ridge Rd | La Costa Cir | 2005 | 57,000 | 1.40 mi |
| Airport Pulling Road | Bailey Ln | 2022 | 39,000 | 1.52 mi |