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Value-Add Retail Center For Sale | 6.50% CAP 120 Towne Center Blvd 7,000 SF 100% Leased Retail Building Sanford, FL 32771 $3,450,383 CAD ($492.91 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Located on the way to and from Seminole Towne Center Mall which is currently being redeveloped into a super-regional mixed-use project
- Rent is secured by Mattress Firm (2,300 locations) and Optical Outlets (50+ locations) both with long-term corporate leases
- Fixed rental increases provides hedge against inflation
- Full access from signalized intersection with prominent visibility along Towne Center Blvd. and pylon signage fronting SR-46 (35,500 VPD)
- The building received a new roof in 2022 and 3 new HVAC units in 2023
- Fee simple ownership allows for depreciation boosting after tax returns
Executive Summary
Property Facts
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
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Mattress Firm is a national retailer of mattresses and sleep products headquartered in Houston, Texas. The company was founded in 1986 and began as a single store before expanding into a nationwide chain through organic growth and acquisitions. Over time, the retailer increased its presence across major metropolitan markets, developing a wide selection of mattresses, bedding accessories, and related products offered through both physical stores and online channels. Its business has included partnerships with major mattress manufacturers and the development of private-label brands. Mattress Firm operates as a subsidiary under its parent organization and maintains a retail-focused model supported by distribution and customer service infrastructure.
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- Retailer
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Optical Outlet operates as an eyewear retailer providing optometric examinations, prescription eyeglasses, and contact lens products across Florida. The business originated in 1987, establishing a longstanding presence in the regional vision-care market. Over time, it expanded its footprint through multiple affiliated professional associations, which collectively support its optometry and retail services. The company functions as a privately held organization and maintains its corporate operations in Tampa, Florida. Its network of locations offers standardized services such as eye exams, lens fittings, and a range of eyewear options.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Retailer | - | - | - | ||
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Nearby Major Retailers
Property Taxes
| Parcel Number | 29-19-30-504-0000-0040 | Improvements Assessment | $1,479,398 CAD |
| Land Assessment | $863,663 CAD | Total Assessment | $2,343,061 CAD |
Property Taxes
Presented by
Value-Add Retail Center For Sale | 6.50% CAP | 120 Towne Center Blvd
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