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Views: 155 DOM: 422 Updated: 09.13.24 Posted: 07.22.23 Status: Active

Summary

Price $3,545,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 08-01-2023
#Units 36,000
Price/SF $1,418.00
Expiration 08-31-2033
Tenant Type Fast Food/QSR
NOI $195,000
R. Term 8.11
Ownership Fee Simple
Rent/SF $78.00
Increases 5.0%/5/yrs
Pop 5Mi 131,952
Lot/AC 0.83
Options 6/5yrs/5%
AHHI 5Mi $75,394

Lease Highlights

  • Brand new 2023 construction
  • Brand new 10-year lease with 6 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

This newly constructed 2,500 square foot Starbucks is located along Northeast Pine Island Road (State Hwy 78) seeing 37,000 vehicles per day. The subject property is situated as an outparcel to Merchant Crossing, a 194,000 SF center anchored by Planet Fitness, Home Depot, AMC Theater, and Dollar General. Other nearby national/credit tenants include Target, Walmart Supercenter, Advance Auto...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:36,000
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,746 47,675 134,516
2023 Total Population : 7,938 45,117 126,782
2023 Employed Civilian Pop : 3,337 17,297 53,857
2023 Total Businesses : 374 2,433 6,292
2023 Average Household Income : $ 55,997 $ 71,670 $ 73,559
2023 Total Consumer Spending : $ 198 M $ 1414 M $ 3470 M
2023 Median Age : 62 59 48
2023 Total Households : 4,018 22,443 53,731
2023 Pop Age 25+: Bachelor's Degree : 646 4,806 12,776
2023 Average Home Value : $ 189,847 $ 265,396 $ 275,941
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Pine Island Rd N Tamiami Trl 2005 32,000 0.07 mi
Bayshore Rd Crescentlake Dr 2005 37,000 0.11 mi
Evergreen Rd Flynn Rd 2001 1,100 0.53 mi
North Tamiami Trail Evergreen Rd 2021 30,500 0.54 mi
North Tamiami Trail Powell Dr 2021 21,000 0.54 mi
Pine Island Road Francis St 2021 31,000 0.55 mi
Bayshore Road N Evalena Ln 2021 38,500 0.58 mi
N Tamiami Trl Brooks Rd 2001 25,000 0.84 mi
North Cleveland Avenue Evergreen Rd 2021 30,500 0.95 mi
N Tamiami Trl Pondella Rd 2005 30,500 1.00 mi

Listing Broker

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