Mattress Firm, Verizon Wireless & Sport Clips - OFFERING MEMORANDUM - LoopNet
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OFFERING Mattress Firm, Verizon Wireless & Sport Clips
MEMORANDUM FOR SALE BY LIFETIME PROPERTY, LLC
Mattress Firm, Verizon Wireless & Sport Clips Retail Center
Neptune Beach, Florida
OFFERING
FOR SALE BY LIFETIME PROPERTY, LLC
MEMORANDUM
The information contained in this memorandum is
confidential and is provided solely for your limited use and
benefit to determine if you have an interest in the subject Contact Information:
property. We obtained the information included in this
memorandum from sources we believe to be reliable.
However, we have not verified its accuracy and make no
David Hass
guarantee, warranty or representation about it. It is 561.634.0000
submitted subject to the possibility of errors, omissions, 561.658.6339 (Fax)
change of price or lease rates, rental or other conditions dhass@lifetimeproperty.com
(i.e., hazardous materials and /or flood zone area), prior
sale, lease or financing, or withdrawal without notice. We Lifetime Property LLC
include projections, opinions, assumptions or estimates of 2711 Boone Drive
cash flows and returns for example only, and they may not
Delray Beach, FL 33483
represent current or future performance of the property.
You and your tax and legal advisors should conduct your
own investigation of the property and transaction.
Confidentiality Statement
$3,100,000
Asking Price FOR SALE BY LIFETIME PROPERTY, LLC
7.00% Cap Rate
Mattress Firm,
Verizon Wireless & Sport Clips
6,650 SF Retail Center ABC
Liquors
1104 - 1108 Atlantic Boulevard,
Neptune Beach, FL
LA Fitness
Property Highlights
• Brand new construction
• Mattress Firm is corporate
guaranteed with 9 years left on base Dunkin
• Neptune Beach is an up and Donuts
coming trendy area of Jax Beaches
• Above average household incomes
in the area exceeds $100,000
• Area retailers include a new
Bonos What A Chase KFC
Lucky’s Market, Publix, LA Fitness, SITE
BBQ Burger
Winn Dixie, Starbucks, Dunkin
Donuts, Chase Bank, Wells Fargo,
McDonalds and more
• Brownfield site with No Further Winn Dixie
Action in place
• No other mattress stores in area Publix
• 25,000 ADT on Atlantic Boulevard
Demographics
1 Mi 15,579 Pop $101,576 Avg. HH
3 Mi 49,955 Pop $96,260 Avg. HH
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339$3,100,000
FOR SALE BY LIFETIME PROPERTY, LLC
Asking Price
• Mattress Firm
➢ $144K Annual Rent (NNN)
➢ 10 Year Base Lease
➢ 10 % Increase Every 5 Years
➢ 4,000 SF End Cap
➢ Two 5 year options
➢ Corporate Guaranteed (3,500+ locations)
Lease Lease Annual
Begin End Size Rent
Mattress Firm 12/16/2016 12/31/2026 4,000 $144,000
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339$3,100,000
FOR SALE BY LIFETIME PROPERTY, LLC
Asking Price
• Verizon Wireless
➢ $48,600 Annual Rent (Gross)
➢ $40,180 Net Rent
➢ 5 Year Base Lease
➢ 10 % Increase every 5 Years on Gross Rent
➢ 1,389 SF End Cap
➢ Two 5 year options
➢ Relocation store with 15% increase in sales since the
move across the street and to the front of the road
Lease Lease Annual
Begin End Size Rent
Verizon Wireless 6/10/2017 6/30/2022 1,389 SF $40,180
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339$3,100,000
FOR SALE BY LIFETIME PROPERTY, LLC
Asking Price
• Sport Clips
➢ $32,760 Annual Rent (NNN)
➢ 5 Year Base Lease
➢ 10 % Increase Every 5 Years
➢ 1,260 SF
➢ Two 5 year options
➢ Experienced Franchisee with 20+ locations in Florida and
Texas
Lease Lease Annual
Begin End Size Rent
Sport Clips 3/21/2017 3/31/2022 1,260 SF $32,760
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339Annual
FOR SALE BY LIFETIME PROPERTY, LLC
Expenses
Property Tax $26,292
Insurance $4,399
Trash $6,137
Grounds $3,200
Utilities $300
TOTAL $40,328
(SF) $6.06
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339Annual
FOR SALE BY LIFETIME PROPERTY, LLC
Income
Mattress Firm $144,000
Sport Clips $32,760
Verizon $40,180
Rent Total $216,940
Admin Fees $2,000
TOTAL INCOME $218,940
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339Site Plan FOR SALE BY LIFETIME PROPERTY, LLC
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339Map FOR SALE BY LIFETIME PROPERTY, LLC
SITE
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339About
FOR SALE BY LIFETIME PROPERTY, LLC
Neptune Beach, FL
ABOUT NEPTUNE BEACH
The City of Neptune Beach, a small, quiet coastal community nestled
on the northeast coast of Florida between Atlantic Beach and
Jacksonville Beach. Neptune Beach has a comfortable, casual and laid-
back atmosphere that causes people of all ages to flock there to enjoy
the beach. The hard-packed sand is great for cycling and the surf is
super for the avid surfer. If you're an early bird, catch the sun rising
above the ocean, it's a sight to behold. The inviting, pedestrian friendly
area offers many boutiques, fitness centers, restaurants and two
oceanfront hotels in close proximity - a destination appealing for both
tourists and locals!
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339FOR SALE BY LIFETIME PROPERTY, LLC
ABOUT MATTRESS FIRM
With more than 3,500 company-operated and franchised stores across 49
states, Mattress Firm has the largest geographic footprint in the United
States among multi-brand mattress retailers. Founded in 1986, Houston-
based Mattress Firm is the nation's leading specialty bedding retailer with
approximately $3.5 billion in pro forma sales in 2015.
The company, through its brands including Mattress Firm, Sleepy's and
Sleep Train, offers a broad selection of both traditional and specialty
mattresses, bedding accessories and other related products from leading
brands and manufacturers, including Serta, Simmons, Hampton &
Rhodes and Dream Bed.
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339FOR SALE BY LIFETIME PROPERTY, LLC
ABOUT VERIZON
Verizon Communications Inc., through its subsidiaries, provides communications, information, and entertainment
products and services to consumers, businesses, and governmental agencies worldwide. Its Wireless segment offers
wireless voice and data services; Internet access on various smart and basic phones, notebook computers, and
tablets; and multimedia access, business-focused, location-based, global data, home phone handsets, and high-speed
Internet services, as well as network access and value added services to support wireless connections for the
Internet of Things (IoT). This segment also provides IoT services that support devices used in fleet management
and telematics, energy, agricultural technology, and smart community markets; and wireless devices, such as
smartphones and basic phones, tablets, and other Internet access devices. As of December 31, 2016, it had 114.2
million retail connections. The company’s Wireline segment offers high-speed Internet, Fios Internet, and Fios
video services; voice services, such as local exchange, regional and long distance calling, and voice messaging
services, as well as Voice over Internet protocol services; network products and solutions comprising private
Internet protocol (IP), public Internet, Ethernet, and optical networking services; IT infrastructure services that
include collocation and managed hosting services; cloud services, which comprise computing, storage, backup,
recovery, and application platforms; and business communications services. This segment also provides data
security, voice and data, cloud and IT, business communications, IoT, and mobility services; and data, voice, local
dial tone, and broadband services primarily to local, long distance, wireless, and other carriers. The company was
formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000.
Verizon Communications Inc. was founded in 1983 and is headquartered in New York City, New York.
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339FOR SALE BY LIFETIME PROPERTY, LLC
ABOUT SPORT CLIPS
Soon after the first Sport Clips opened Austin, Texas in 1993, Sport Clips
expanded into Houston and Dallas, and, based further expansion plans on
where Southwest Airlines flew to keep travel expenses at a minimum. It
took five years to open the first 50 stores, and by 2007, Sport Clips
celebrated the opening of its 400th and 500th store in the same year. In
2012, the franchise expanded into Canada.
Today, Sport Clips is proud to be the only national hair care franchise
with locations in all 50 states in the U.S., with more than 1,600 open in
the U.S. and Canada. When you ask Gordon if he knew Sport Clips
would be one of the fastest-growing franchise systems today, he’ll answer
you, “Yes, I just didn’t think it would take this long!
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339$3,100,000
Asking Price FOR SALE BY LIFETIME PROPERTY, LLC
7.00% Cap Rate
2711 Boone Drive • Delray Beach, FL 33483 • Tel: (561) 634 – 0000 Fax: (561) 658 - 6339You can also read
