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Stan Johnson Company is pleased to offer for sale to qualified investors a 1031 exchange eligible single tenant retail property located in Martinsville, Virginia. The property is leased to Mattress Firm, Inc. who operates a brand new NN lease with Ten (10) years on the term and Two (2), Five (5) year renewal options. The lease term contains 10% rental increases, every Five (5) years, throughout the primary term and option periods. The Mattress Firm is located adjacent to Liberty Fair Mall on Martinsville’s major retail corridor. The subject property is currently undergoing renovations and is estimated to open at the beginning of December, 2014.
The asking price is $2,269,500 with a capitalization rate of 6.50 percent.
Contact Anne Perrault at Stan Johnson Company at 918.494.2690 for more information on this 1031 exchange property in Virginia.
