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Mattress Firm – Long-Term Net Lease, 7.47% Ca 6540 Centers Dr 3,852 SF 100% Leased Retail Building Holland, OH 43528 $2,495,000 ($647.72/SF) 6.78% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Outparcel to Massive Shopping Center - 800k SF Shopping Center anchored by Walmart Supercenter, Sam’s Club, and Target
- Immediate Interstate Access - Close Proximity to I-475 Interchange - Primary Loop Serving Toledo’s Western Communities
- Top Retail Trade Area in the Toledo MSA
- 10% Rent Increase in Year 3 - Exceptional Cap Rate Growth to 7.47%
EXECUTIVE SUMMARY
Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell Inc., is pleased to present the opportunity to acquire the fee simple interest in a newly renovated, single-tenant, corporate-leased Mattress Firm located in Toledo (Holland), Ohio (the “Property”).
The Property is secured by a long-term corporate net lease to Mattress Firm, featuring 10 years remaining on the initial 12-year term, two (2) five-year renewal options, and 10% rental increases every five years, providing durable, inflation-hedged cash flow with minimal landlord responsibilities. Situated on a large 1.05-acre parcel, the Property benefits from exceptional site fundamentals, including a parking ratio of 14.32 spaces per 1,000 square feet, offering meaningful future re-use flexibility and long-term fungibility. Formerly occupied by a restaurant operator for nearly 30 years, the building underwent a complete renovation in 2024 and was repositioned into a modern Mattress Firm prototype, resulting in a highly functional, low-maintenance retail asset.
The Property is strategically positioned as a prime outparcel to the institutionally owned Spring Meadows Place, a dominant 800,000+ square foot regional retail destination anchored by best-in-class national retailers including Target, Best Buy, Dick’s Sporting Goods, HomeGoods, and TJ Maxx, and shadow-anchored by Sam’s Club (92nd percentile statewide foot traffic per Placer.ai) and Walmart Supercenter (81st percentile statewide foot traffic per Placer.ai).
The Property is secured by a long-term corporate net lease to Mattress Firm, featuring 10 years remaining on the initial 12-year term, two (2) five-year renewal options, and 10% rental increases every five years, providing durable, inflation-hedged cash flow with minimal landlord responsibilities. Situated on a large 1.05-acre parcel, the Property benefits from exceptional site fundamentals, including a parking ratio of 14.32 spaces per 1,000 square feet, offering meaningful future re-use flexibility and long-term fungibility. Formerly occupied by a restaurant operator for nearly 30 years, the building underwent a complete renovation in 2024 and was repositioned into a modern Mattress Firm prototype, resulting in a highly functional, low-maintenance retail asset.
The Property is strategically positioned as a prime outparcel to the institutionally owned Spring Meadows Place, a dominant 800,000+ square foot regional retail destination anchored by best-in-class national retailers including Target, Best Buy, Dick’s Sporting Goods, HomeGoods, and TJ Maxx, and shadow-anchored by Sam’s Club (92nd percentile statewide foot traffic per Placer.ai) and Walmart Supercenter (81st percentile statewide foot traffic per Placer.ai).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
3,852 SF
Building Class
C
Year Built/Renovated
1995/2024
Price
$2,495,000
Price Per SF
$647.72
Cap Rate
6.78%
NOI
$169,195
Percent Leased
100%
Building Height
1 Story
Building FAR
0.08
Lot Size
1.05 AC
Zoning
C-2 - General Commercial
Parking
34 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 65-86778 | Improvements Assessment | $315,945 |
| Land Assessment | $34,055 | Total Assessment | $350,000 |
PROPERTY TAXES
Parcel Number
65-86778
Land Assessment
$34,055
Improvements Assessment
$315,945
Total Assessment
$350,000
(310) 691-1350
x101
CONTACTS
-
David Chasin -
Daylin Ackerman -
Tony Veiller -
Corey Allen -
Andrew Leon -
Ethan Ritz -
Pegasus Investments
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Mattress Firm – Long-Term Net Lease, 7.47% Ca | 6540 Centers Dr
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