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Views: 99 DOM: 191 Updated: 09.18.24 Posted: 06.22.24 Status: Active

Summary

Price $3,780,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 10-01-2023
#Units 38,038
Price/SF $1,512.00
Expiration 09-30-2033
Tenant Type Fast Food/QSR
NOI $189,000
R. Term 8.9
Ownership Fee Simple
Rent/SF $75.60
Increases 10.0%/4/yrs
Pop 5Mi 106,381
Lot/AC 1.22
Options 6/5yrs/10%
AHHI 5Mi $116,918

Lease Highlights

  • New 2023 construction
  • Starbucks has 9+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of State Highway 46 and International Parkway, with access to a substantial combined daily traffic count of 48,800 vehicles. The property benefits from nearby access to Interstate 4 (131,000 VPD) and is ideally situated within a dense trade area, in proximity to Towne Center Plaza, Gateway Plaza, Seminole Towne...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • 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
2029 Total Population : 9,969 54,390 115,961
2024 Total Population : 9,011 49,589 109,515
2024 Employed Civilian Pop : 5,224 28,885 61,340
2024 Total Businesses : 493 2,961 6,329
2024 Average Household Income : $ 130,670 $ 141,720 $ 129,682
2024 Total Consumer Spending : $ 422 M $ 2429 M $ 4877 M
2024 Median Age : 39 39 40
2024 Total Households : 3,694 19,800 43,285
2024 Pop Age 25+: Bachelor's Degree : 2,022 11,677 21,660
2024 Average Home Value : $ 560,990 $ 510,943 $ 493,117
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
International Parkway 2012 7,773 0.06 mi
W State Rd 46 Bernini Way 2012 29,500 0.13 mi
International Pkwy Prosperity Loop 2012 9,698 0.26 mi
FL 46 Wayside Dr 2022 28,000 0.34 mi
FL 46 Wayside Dr 2021 31,000 0.34 mi
2012 28,500 0.37 mi
State Road 46 S Henderson Ln 2022 25,000 0.43 mi
W State Rd 46 N Henderson Ln 2012 23,803 0.48 mi
I- 4 2022 5,400 0.57 mi
N Oregon St Maxon Ter 2012 3,406 0.58 mi

Listing Broker

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