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Miscellaneous

Sleep Number | Relocation Store | New 10-Year Corp Lease

3485 Erie Blvd E, Syracuse, NY 13214

Listing Price: $3,648,000

Cap Rate
6.25%
Tenant Name
Select Comfort Retail Corporation dba Sleep Number
Years Remaining On Lease
10.1
Gross SF
3,000
Guarantor
Corporate Guarantee
Rentable SF
3,000
Price/Gross SF
$1,216.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$76.00

Investment Overview

Founded in 1987 and based in Minneapolis, Sleep Number (publicly traded and U.S. based) designs, manufactures, markets and supports a line of adjustable firmness mattresses featuring air-chamber technology, branded the SLEEP NUMBER® bed, as well as bases and bedding accessories. As of July 27, 2022, the Company’s second-quarter net sales increased 13 percent versus the prior year, with year-to-date net sales increasing 2 percent. Syracuse is a city in, and the county seat of, Onondaga County, New York. Home to 148,620 residents, Syracuse is the fifth-most populous city in the state. The gateway to the Finger Lakes region and centrally located in the heart of New York state, Syracuse is the economic and educational hub of Central New York. As an educational hub, the city is home to Syracuse University, SUNY Upstate Medical University, SUNY ESF, and Le Moyne College.

Investment Highlights

  • Brand New 10-Year Triple-Net (NNN) Lease with Corporate Guaranty (NASDAQ: SCSS)
  • 10 Percent Rental Increases Every Five Years
  • Brand New High-Quality 2023 Construction
  • Relocation Store - Relocation from Successful Shoppingtown Mall Location
  • 171,005 Residents and 247,174 Daytime Employees Within a Five-Mile Radius
  • Dense Retail Corridor Location - Adjacent to Burlington, Michaels, DICK'S Sporting Goods, Dunkin' Donuts, and Starbucks. Nearby Retailers Include Trader Joe's, Walmart, The Home Depot, PetSmart, and Best Buy
  • Excellent Visibility Along Erie Boulevard East (Over 17,500 Cars per Day)
  • Average Household Income Exceeds $99,000 in the Immediate Area

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Financing By

Miscellaneous

Sleep Number | Relocation Store | New 10-Year Corp Lease

Listing Price: $3,648,000

Cap Rate
6.25%
Tenant Name
Select Comfort Retail Corporation dba Sleep Number
Years Remaining On Lease
10.1
Gross SF
3,000
Guarantor
Corporate Guarantee
Rentable SF
3,000
Price/Gross SF
$1,216.00
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$76.00

Investment Highlights

  • Brand New 10-Year Triple-Net (NNN) Lease with Corporate Guaranty (NASDAQ: SCSS)
  • 10 Percent Rental Increases Every Five Years
  • Brand New High-Quality 2023 Construction
  • Relocation Store - Relocation from Successful Shoppingtown Mall Location
  • 171,005 Residents and 247,174 Daytime Employees Within a Five-Mile Radius
  • Dense Retail Corridor Location - Adjacent to Burlington, Michaels, DICK'S Sporting Goods, Dunkin' Donuts, and Starbucks. Nearby Retailers Include Trader Joe's, Walmart, The Home Depot, PetSmart, and Best Buy
  • Excellent Visibility Along Erie Boulevard East (Over 17,500 Cars per Day)
  • Average Household Income Exceeds $99,000 in the Immediate Area

Investment Overview

Founded in 1987 and based in Minneapolis, Sleep Number (publicly traded and U.S. based) designs, manufactures, markets and supports a line of adjustable firmness mattresses featuring air-chamber technology, branded the SLEEP NUMBER® bed, as well as bases and bedding accessories. As of July 27, 2022, the Company’s second-quarter net sales increased 13 percent versus the prior year, with year-to-date net sales increasing 2 percent. Syracuse is a city in, and the county seat of, Onondaga County, New York. Home to 148,620 residents, Syracuse is the fifth-most populous city in the state. The gateway to the Finger Lakes region and centrally located in the heart of New York state, Syracuse is the economic and educational hub of Central New York. As an educational hub, the city is home to Syracuse University, SUNY Upstate Medical University, SUNY ESF, and Le Moyne College.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

Financing By

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