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Views: 45 DOM: 70 Updated: 07.09.24 Posted: 05.03.24 Status: Active

Summary

Price $4,345,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 07-01-2024
#Units 38,038
Price/SF $1,738.00
Expiration 07-31-2034
Tenant Type Fast Food/QSR
NOI $228,093
R. Term 10.0
Ownership Fee Simple
Rent/SF $91.24
Increases 10.0%/5/yrs
Pop 5Mi 25,071
Lot/AC 1.22
Options 6/5yrs/10%
AHHI 5Mi $0

Lease Highlights

  • Brand new 2024 construction
  • Starbucks recently signed a brand new 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of South Broad Street and Candlelight Blvd., with access to a combined daily traffic count of 31,500 vehicles. The property is surrounded by retail developments such as Brooksville Square, South Plaza, and South Square Shopping Center, featuring well-known national tenants including Publix, Big Lots, Winn-Dixie, AutoZone,...

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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
2028 Total Population : 4,984 15,244 26,387
2023 Total Population : 4,814 14,421 25,071
2023 Employed Civilian Pop : 1,877 5,451 10,094
2023 Total Businesses : 437 1,051 1,356
2023 Average Household Income : $ 50,100 $ 61,825 $ 73,814
2023 Total Consumer Spending : $ 95 M $ 352 M $ 699 M
2023 Median Age : 47 52 51
2023 Total Households : 2,164 6,429 10,759
2023 Pop Age 25+: Bachelor's Degree : 366 1,544 2,625
2023 Average Home Value : $ 161,677 $ 198,792 $ 248,742
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Broad Street Chatman Blvd 2022 24,000 0.10 mi
S Broad St Candlelight Blvd 2010 23,000 0.17 mi
Candlelight Boulevard Erin Way 2022 1,300 0.38 mi
Darby Lane Jerome Brown Pl 2022 1,200 0.39 mi
West Martin Luther King Junior Boulevard S Mildred Ave 2021 4,900 0.46 mi
West Martin Luther King Junior Boulevard Hale Ave 2022 5,100 0.46 mi
Barnett Road Windy Way 2022 1,300 0.47 mi
Broad Street Barnett Rd 2022 32,500 0.56 mi
Cortez Boulevard Ray Browning Rd 2022 32,000 0.58 mi
Hale Avenue Cook Ave 2022 1,500 0.60 mi

Listing Broker

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