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Views: 234 DOM: 203 Updated: 11.25.24 Posted: 05.14.24 Status: Active

Summary

Price $4,902,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.10%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,700
Lease Start 07-01-2024
#Units 38,038
Price/SF $1,815.56
Expiration 07-31-2034
Tenant Type Fast Food/QSR
NOI $250,000
R. Term 9.8
Ownership Fee Simple
Rent/SF $92.59
Increases 10.0%/5/yrs
Pop 5Mi 141,858
Lot/AC 0.00
Options 6/5yrs/10%
AHHI 5Mi $99,479

Lease Highlights

  • 2024 Construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements
  • Starbucks recently executed a brand new 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years and at the beginning of each option
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Narcoossee Road and McCoy Road, with access to a combined daily traffic count of 32,200 vehicles. The property serves as an outparcel to the upcoming Encore at Narcoossee multi-family development, currently under construction (249 units). Surrounding developments, such as Eagle Lake, Selene, and Everbe, are also...

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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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