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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 $2,523,077 ($360.44/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 U.S.-based mattress and sleep products retailer headquartered in Houston, Texas. Founded in 1986, the company began with a single store and expanded steadily through acquisitions, franchise development, and continued retail growth. Mattress Firm operates thousands of locations across the country offering mattresses, adjustable bases, bedding accessories, and related sleep solutions. The organization’s headquarters manages strategic planning, corporate operations, supply chain functions, merchandising, marketing, and customer service.
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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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Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 29-19-30-504-0000-0040 | Improvements Assessment | $1,082,270 |
| Land Assessment | $631,822 | Total Assessment | $1,714,092 |
Property Taxes
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Value-Add Retail Center For Sale | 6.50% CAP | 120 Towne Center Blvd
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