Arcadia, FL - Badcock Home Furniture

Description:

SRS National Net Lease Group , in collaboration with Marcus & Millichap, is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding Badcock Home Furniture investment property located in Arcadia, Florida (Fort Myers MSA). The tenant recently signed a brand new 13-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is franchisee guaranteed and is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. With more than 380 locations, Badcock Home Furniture is one of the largest home furniture brands in the US.

The property is strategically located near the signalized, hard-corner intersection of US Highway 17 and W. Hickory Street, which averages a combined 24,900 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage, and features multiple points of ingress/egress. The property is centrally located near downtown Arcadia, and is ideally situated near several national/credit retail tenants including Winn Dixie, Tractor Supply Co., Anytime Fitness, O’Reilly Auto Parts, Sherwin Williams, Save a Lot, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by 21,627 residents and 8.581 employees, providing a direct consumer base from which to draw. Arcadia, Florida benefits from quick access to the cities of Fort Myers and Tampa, as well as several beach towns along the Gulf Coast including Sarasota and Venice.