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Views: 372 DOM: 389 Updated: 10.03.24 Posted: 11.28.23 Status: Active 10.03.24

Summary

Price $3,790,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 01-31-2024
#Units 38,038
Price/SF $1,516.00
Expiration 02-01-2034
Tenant Type Fast Food/QSR
NOI $189,500
R. Term 9.1
Ownership Fee Simple
Rent/SF $75.80
Increases 10.0%/5/yrs
Pop 5Mi 81,966
Lot/AC 1.26
Options 6/5yrs/10%
AHHI 5Mi $74,508

Lease Highlights

  • Brand-new 2023 construction
  • Starbucks recently signed a brand-new 10-year lease with 6 (5-year) options to extend
  • Lease features 10% rental increase 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

Starbucks is strategically fronting LPGA Blvd, with access to 26,210 vehicles passing by daily. Ideally positioned just off I-95, the property benefits from a high traffic count of 85,500 VPD. Situated directly across from Latitude Landings, a Publix-anchored center serving as the gateway to the Latitude Margaritaville Community, the property boasts enhanced accessibility with multiple points...

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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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