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Floor & Decor (GL)

2157 Pine Ridge Road, Naples, FL 34109

$25,122,000

Cap Rate 5.75%

Updated: 05.21.24 Posted: 11.03.23 Status: Inactive

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 221
Price/SF $235.47
Expiration 09-30-2036
Tenant Type Big Box Retail
NOI $1,444,500
R. Term 11.5
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

William Wamble
SRS National Net Lease Group
Contact

Patrick Nutt
SRS National Net Lease Group
Contact

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...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • High traffic 50M+ VPD

  • Strategically located

  • Major MSA

  • Income tax free state

  • Brand new lease

  • Absolute NNN

  • Traded and rated company

  • Corporate Guarantee

    • ...

Links

Floor & Decor Wikipedia Floor & Decor Wikipedia Naples, Florida Zip Code 34109 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Floor & Decor
  • Guarantor:Corp T and Rated
  • Company:Floor & Decor Holdings, Inc
  • # Units:221
  • 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...


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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
*ESRI data is presented for informational purposes only

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

Listing Broker

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