Current Use by Public Records
- Retail properties & Spaces
Property Details for 12218 56Th St
- Property type
- Retail properties & Spaces
- Property subtype
- Industrial properties
Description
This exceptional opportunity presents a thriving, debt-free furniture retailer in Temple Terrace, Florida. Located at 12218 N 56th St, 33617, this Class B property boasts a combined 135,000 square feet, encompassing a 63,000 square foot showroom and a 60,000 square foot warehouse. The business enjoys a prime location in a high-demand area of Central Florida, serving a broad customer base both locally and beyond Florida. With a robust online presence and an interactive e-commerce platform, the business offers a diverse product selection, ranging from custom furniture to premium outdoor furnishings from top-tier brands. Financially sound, this stabilized investment generates a $1,000,000 annual NOI, representing a 10% cap rate on the $10,000,000 asking price. Annual sales have consistently exceeded $15,000,000 for the past three years, with a projected increase to over $20,000,000 in the near future. First-quarter 2024 revenue reached nearly $5,000,000, demonstrating continued strong performance. The business is well-positioned for various financing options, having undergone financial review by several banks, and the seller is open to considering seller financing based on buyer qualifications. This turnkey operation offers a strategic acquisition opportunity for expanding market share, a platform for growth, or a valuable add-on acquisition for private equity firms. The established systems and processes ensure easy management and scalability. This is a rare chance to acquire a high-performing business in a booming market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Temple Terrace
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.3941
- Latitude
- 28.059
