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Views: 59 DOM: 107 Updated: 11.25.24 Posted: 08.17.24 Status: Active

Summary

Price $4,171,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 10-01-2024
#Units 38,038
Price/SF $1,668.40
Expiration 09-30-2034
Tenant Type Fast Food/QSR
NOI $214,805
R. Term 9.10
Ownership Fee Simple
Rent/SF $85.92
Increases 10.0%/5/yrs
Pop 5Mi 54,661
Lot/AC 1.00
Options 6/5yrs/10%
AHHI 5Mi $76,728

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 primary term and option periods
  • NN Lease | Fee simple ownership | Limited landlord responsibilities 
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on NW Blitchton Road, with access to 25,000 vehicles passing by daily. The property is an outparcel to the Shops at Foxwood, a neighborhood center anchored by Publix, which ranks in the top 75% of all nationwide locations according to Placer.ai. It is situated less than 1.5 miles west of Interstate 75 (90,000 VPD), providing convenient on/off ramp access, and...

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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 : 3,930 20,932 59,825
2024 Total Population : 3,581 20,224 58,819
2024 Employed Civilian Pop : 1,269 7,533 24,290
2024 Total Businesses : 142 1,024 4,535
2024 Average Household Income : $ 86,415 $ 72,116 $ 78,456
2024 Total Consumer Spending : $ 150 M $ 555 M $ 1673 M
2024 Median Age : 70 49 42
2024 Total Households : 1,993 8,647 23,895
2024 Pop Age 25+: Bachelor's Degree : 717 2,522 6,861
2024 Average Home Value : $ 337,674 $ 300,748 $ 325,876
*ESRI data is presented for informational purposes only

Listing Broker

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