Mattress Firm Shopping Center

Mattress Firm Shopping Center

Mattress Firm Shopping Center
3995 Tyrone Blvd North
St. Petersburg, FL 33707

$1,150,000

Cap Rate 6.26%/8.64%
Gross Leasable Area (GLA) 5,000 Sq.Ft.
Price Per Square Foot (GLA) $230
Year Built 1990/2004
Lot Size 0.80 Acres
  • Opportunity to Add Value by Leasing Vacancy
  • Market Rents on Tyrone Boulevard in Excess of $27 Per Square Foot
  • Average Daily Traffic Count of 45,000 Vehicles
  • Corporate Guarantee by Mattress Firm – B+ Rating by S&P
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Mattress Firm Shopping Center (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to present for sale this Mattress Firm anchored shopping center located in Saint Petersburg, Florida. The property is strategically located at the corner of Tyrone Boulevard and Park Street, and benefits from heavy traffic along one of Saint Petersburg’s busiest east-west thoroughfares.

Totaling 5,000 square feet, the subject property is currently 70 percent occupied with Mattress Firm occupying 3,510 square-feet. An investor can expect to increase cash flow and add value by leasing up the single vacant space at market rents.

Tyrone Boulevard is the main retail corridor in St. Petersburg, and is one of the cities busiest roads, seeing over 45,000 vehicles per day. Tyrone Boulevard is also a popular route for Tampa Bay residents heading to the unbelievable beaches of the gulf coast. The property sits just a mile up the road from Tyrone Square Mall which is undergoing a new development of adding Lucky’s Market organic grocery store and a Dick’s Sporting Goods. Also newly renovated, Cobb Theaters-Tyrone Luxury 10 serves as an outparcel to Tyrone Square Mall, with frontage on Tyrone Boulevard.

Saint Petersburg is the largest city in Pinellas County with a population of over 260,000 residents. Saint Petersburg is also just 20 minutes west of the city of Tampa which is home to over 377,000 residents. The average household income within a 3-miles radius of the property is $68,897 and the median age is 41.8 years. These demographics are ideal for Mattress Firm and is attractive for both national and regional retailers. The property is located just west of Interstate-275, the major north/south thoroughfare that provides a convenient route to Tampa, Bradenton and Sarasota. This property also provides immediate access to University of South Florida-Saint Petersburg, Tropicana Field and downtown St. Petersburg’s world class museums, retail, business district and waterfront park.

For More Information, Please Contact:

James Garner

Net-Leased Restaurant Specialist
(813) 387-4796
James.Garner@MarcusMillichap.com