STNL Mattress Firm | 36540 Centers Dr

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 property located in the Holland submarket of the greater Toledo area. The property is secured by a long-term corporate net lease with Mattress Firm, featuring approximately 10 years remaining on the initial 12-year lease term, two additional five-year renewal options, and built-in 10% rent increases every five years, creating durable, inflation-resistant income with minimal landlord responsibilities. Situated on a large 1.05-acre parcel, the property offers exceptional site fundamentals, including a strong parking ratio of 14.32 spaces per 1,000 square feet, enhancing long-term flexibility, adaptability, and future reusability for a variety of retail concepts. Originally occupied by a restaurant operator for nearly three decades, the building underwent a comprehensive renovation in 2024 and was repositioned into a modern Mattress Firm prototype, resulting in a highly functional and low-maintenance retail asset.

Strategically positioned as a prime outparcel to the institutionally owned Spring Meadows Place shopping center, the property benefits from direct association with one of the region’s dominant retail destinations encompassing more than 800,000 square feet of retail space. The surrounding trade area is anchored by nationally recognized retailers including Target, Best Buy, Dick's Sporting Goods, HomeGoods, and TJ Maxx, while additional consumer traffic is driven by nearby Sam's Club and Walmart Supercenter locations, both of which rank among the highest-performing stores in Ohio according to Placer.ai traffic data. Combining strong corporate tenancy, long-term lease stability, strategic positioning within a high-performing retail corridor, and significant underlying real estate value, this offering represents an attractive passive investment opportunity within one of Northwest Ohio’s most established commercial trade areas.