Chiefland, 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 Chiefland, Florida. 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 subject property is strategically located along U.S. Highway 98, a primary retail thoroughfare serving 14,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large pylon sign, and features multiple points of ingress/egress. Furthermore, the asset is located near a dense, regional retail corridor featuring numerous national/credit tenants such as Walmart Supercenter, Winn Dixie, CVS Pharmacy, Walgreens, Tractor Supply Co., 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 8,337 residents and 3,370 employees, providing a direct consumer base from which to draw. Chiefland is located roughly 40 miles from Gainesville, and is a key shopping destination for numerous surrounding communities.