Interested in selling your OfficeMax NNN property or OfficeMax ground lease property and was wondering what you can get for it in today’s changing market?
Contact us for a complimentary broker opinion of value for your off-market OfficeMax NNN property for sale or OfficeMax ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your OfficeMax NNN property or the inclusion of an OfficeMax ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market OfficeMax properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of January 2023, OfficeMax has over 941 stores in 47 states, Puerto Rico, the U.S. Virgin Islands, and Mexico.
Revenue and income
In 2022, OfficeMax’s total revenue was $6.9 billion. Net income was $190 million.
Future plans
OfficeMax plans to continue expanding its physical footprint and online presence. In 2023, the company plans to open over 100 new stores and launch a new e-commerce platform. OfficeMax also invests in new technologies, such as self-checkout and mobile ordering.
Corporate vs. franchise
About 70% of OfficeMax stores are corporate-owned. The remaining 30% are franchised. Franchisees typically incur a franchise fee of $25,000 and a royalty fee equivalent to 5% of their gross sales.
Additional information OfficeMax Properties
1. OfficeMax’s inception took place in 1988 in the city of Cleveland, Ohio.
2. The company’s name combines the words “office” and “maximum.
3. OfficeMax is the second largest office supply retailer in the United States, after Staples.
4. The company’s most popular products include office furniture, printers, and paper.
5. OfficeMax is a subsidiary of Office Depot, Inc., a multinational corporation that owns the Office Depot brand.
OfficeMax History
OfficeMax traces its roots back to 1988, founded in Cleveland, Ohio. The company’s name combines the words “office” and “maximum.” OfficeMax is the second largest office supply retailer in the United States, after Staples. The company’s most popular products include office furniture, printers, and paper.
Why Invest in Ground Lease and NNN Lease of OfficeMax?
Investing in OfficeMax’s ground lease and triple net (NNN) lease properties offers compelling reasons:
1) OfficeMax NNN Property Investment: Stable income
With a well-established brand and strong market presence, OfficeMax provides reliable income streams. Ground and NNN leases offer predictable cash flows over the long term.
2) OfficeMax NNN Property Investment: Established tenant
OfficeMax’s successful and recognizable brand reduces the risk of vacancy or lease default, ensuring a stable tenant for the property.
3) OfficeMax NNN Property Investment: Low management responsibility
In-ground and NNN leases, the tenant manages property maintenance and expenses, minimizing the landlord’s management obligations.
4) OfficeMax NNN Property Investment: Favorable lease terms
Long lease terms with built-in rent escalations provide predictable income and potential rental growth.
5) OfficeMax NNN Property Investment: Real estate value
OfficeMax’s strategic locations in high-traffic areas can increase property value, offering potential capital appreciation.
Pros and Cons of OfficeMax Ground Lease and NNN Lease Investment
Pros:
1. Stable income from a well-established brand.
2. Established tenant reduces vacancy and lease default risks.
3. Minimal management responsibility for landlords.
4. Long lease terms provide stability and potential income growth.
Cons:
1. Lease renewal risk when the term expires.
2. Dependency on OfficeMax’s success and operational challenges.
3. Market saturation and competition affect profitability.
4. Limited control over property decisions.
5. Economic and market risks inherent in real estate investments.
Thorough due diligence and consideration of location, lease terms, tenant strength, and investment strategy are essential. Seek guidance from real estate professionals and financial advisors to align with your goals and risk tolerance.