Starbucks

14202 U.S. 301, Riverview, FL, 33579 USA

$3,478,000

Cap Rate 5.00%

Views: 151 DOM: 422 Updated: 08.27.24 Posted: 07.22.23 Status: Active

Summary

Price $3,478,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,500	Lease Start 10-01-2023	#Units 36,000
Price/SF $1,391.20	Expiration 10-01-2033	Tenant Type Fast Food/QSR
NOI $173,900	R. Term 9.0	Ownership Fee Simple
Rent/SF $69.56	Increases 10.0%/5/yrs	Pop 5Mi 158,568
Lot/AC 1.06	Options 6/5yrs/10%	AHHI 5Mi $110,004

Lease Highlights

Brand new 2023 construction
Starbucks recently signed a brand-new 10-year lease with 6 (5-year) options to renew
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

This newly constructed Starbucks is strategically located on US Hwy 301 and Balm Road with access to 29,400 vehicles per day. The site is part of the upcoming Sumner Crossing shopping center, which will be home to CVS, Lockhart Storage, Woodie’s Wash Shack and more. Sumner Crossing is adjacent to Sumner High School (3,500+ students), which drives significant traffic to the immediate area....

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Key Features

New construction
Near major nationals
Shopping Ctr out-parcel
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Income tax free state
Brand new lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Riverview, Florida Zip Code 33579 Broker Site Page

Maps

Local Information

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 is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...

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Listing Broker

Thomas Carr

CBRE: NLPG Atlanta

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130 Listings
12820 Views
63 Sold

Will Pike

CBRE: NLPG Atlanta

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12 Listings
931 Views
8 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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Will Pike

Will Pike is a Vice Chairman and Managing Director of the Net Lease Property Group and Corporate Capital Markets practice. Mr. Pike’s focus is to advise retailers, institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. Since 2016, Mr. Pike and his partner, Chris Bosworth, have been responsible for the disposition of 1,020 properties with a value of more than $12.6 billion. Together, they have executed more than 3,200 transactions

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Brian Pfohl

CBRE: NLPG Atlanta

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128 Listings
12787 Views
60 Sold

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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