Investment Highlights
- Triple Net (NNN), Corporate Guarantee Lease With No Landlord Responsibilities
- Three Years Remaining on the Base Term with One, Five-Year Renewal Option
- Low Rent Per Square Foot at $11.68
- Tenant has Operated from This Location for Nearly 20 Years
- Tenant Recently Exercised Option Period, Commenced in 2018
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Pier 1 Imports in Sebring, Florida. This Pier 1 Imports offers a triple net, corporate guarantee lease with no landlord responsibilities. There are three years remaining on the base term of the lease with one, five-year renewal option. This is a great investment as this property has low rent per square foot at only $11.68.
Sebring is the mid-point between Lakeland to the North and Fort Myers to the South. The subject property is located off U.S. Highway 27 which is the major roadway in the area providing access to the rest of the state, including Tampa (90 miles) and Orlando (83 miles). Highway 27 has a daily traffic count of more than 39,000 vehicles.
This Pier 1 Imports is located in a major retail area, directly across the street from the Lakeshore Mall which is anchored by Sears, Belk, Bealls, and JCPenney. Other surrounding national retailers include Publix, Walmart Supercenter, Home Depot, Lowe’s, Winn Dixie, Aldi, Harbor Freight Tools, Marshalls, Ross, Office Depot, Ashley Furniture HomeStore, Pet Supermarket, Gold’s Gym, Advance Auto Parts, McDonald’s, Starbucks, Taco Bell, IHOP and many more.
