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Views: 57 DOM: 105 Updated: 11.25.24 Posted: 08.20.24 Status: Active

Summary

Price $4,059,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,710
Lease Start 10-01-2024
#Units 38,038
Price/SF $1,497.79
Expiration 10-01-2034
Tenant Type Fast Food/QSR
NOI $209,063
R. Term 9.10
Ownership Fee Simple
Rent/SF $77.15
Increases 10.0%/5/yrs
Pop 5Mi 68,658
Lot/AC 1.20
Options 6/5yrs/10%
AHHI 5Mi $82,934

Lease Highlights

  • Brand-new 2024 construction
  • New 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • NN Leased | Limited landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of East International Speedway Boulevard and North Alabama Avenue, with access to a combined daily traffic count of 31,000 vehicles. The property is less than 1.5 miles from Stetson University and directly across from the Publix-anchored Northgate Shopping Center, which includes well-known national tenants such as Truist,...

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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 : 4,953 45,359 73,371
2024 Total Population : 4,766 44,130 69,849
2024 Employed Civilian Pop : 1,915 19,686 31,133
2024 Total Businesses : 463 2,392 3,099
2024 Average Household Income : $ 87,030 $ 92,876 $ 97,545
2024 Total Consumer Spending : $ 155 M $ 1415 M $ 2385 M
2024 Median Age : 44 43 45
2024 Total Households : 2,024 17,241 27,763
2024 Pop Age 25+: Bachelor's Degree : 610 5,499 9,481
2024 Average Home Value : $ 514,354 $ 374,062 $ 378,754
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E International Speedway Blvd N Amelia Ave 2007 31,000 0.05 mi
E International Speedway Blvd N Amelia Ave 2003 27,000 0.15 mi
N Woodland Blvd E Rosehill Ave 2008 26,500 0.17 mi
N Amelia Ave Valencia Ct 2008 7,710 0.21 mi
N Woodland Blvd Old Daytona Rd 2012 27,500 0.22 mi
E Kentucky Ave N Alabama Ave 2012 1,300 0.29 mi
W International Speedway Blvd International Speedway Blvd 2011 14,370 0.30 mi
North Amelia Avenue N Amelia Ave 2022 1,350 0.31 mi
N Garfield Ave E Rosehill Ave 2007 2,150 0.34 mi
Old Daytona Road Patterson Ave 2022 5,200 0.37 mi

Listing Broker

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