Credit Tenant Investment Opportunity!

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30192522
Property Subtypes: Free-Standing Building, Street Retail
Status: Pending
Building Size (RSF): 14,670 SF
Gross Land Area: 28,794 SF
Sale Price: $2,450,000
Unit Price: $167.01 PSF
Property Use Type: Investment
Building Name: Fortunoff Backyard Store
Usable Size (USF): 14,670 SF
Sale Terms: Other
Cap Rate: 7.1%
Last Updated: 7/10/2018

Overview / Comments

This Corporate executed lease by Florida Backyard Store, LLC d/b/a Fortunoff Backyard Store a subsidiary of The Chair King, Inc. is a strong statewide Tenant that has 8 locations, $25,000,000 plus in annual gross sales and adding more locations! With store fronts in Naples, Boca Raton, Fort Lauderdale, Ft. Myers, Palm Beach Gardens, Royal Palm Beach, Stuart and SARASOTA the brand is well entrenched in Florida and looking to open more locations. The Sarasota branch is #2 in sales volume and will be putting substantial build out dollars into the interior build out and exterior branding in the summer of 2018.

Fortunoff Backyard Stores features vignettes and settings that creates an environment where someone can see a large variety of furniture. A range of dining, seating, chat, and bar collections from noted manufactures will give customers infinite possibilities for furnishing outdoor space. The Fortune Backyard Store brand enjoys a long history of successful backyard stores with 26 additional locations in New York, New Jersey, Connecticut, Delaware and Pennsylvania.

Now is your chance to own a fantastic building located on lucrative Tamiami Tr. in GREAT condition and enjoy a mutually beneficial financial arrangement with a highly successful and professional tenant for years to come.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0112050030
Retail Clientele: General
Property Located Between: Located on the west side of the Trail between Stickney Pt. Rd. and S. Beneva Rd.
Property Visibility: Excellent
Largest Nearby Street: Tiamami Trail
Traffic/Vehicle Count: 44,000
Highway Access: Tamiami Trail
Airports: North Port-Sarasota-Bradenton
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1973
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,253 49,800 111,213
Median Age: 57.55 55.13 52.34
Households: 3,307 25,016 53,315
The information presented herein is provided as is, without warranty of any kind. Neither My Florida Commercial Real Estate nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.