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Views: 3 DOM: 119 Updated: 11.30.23 Posted: 06.16.23 Status: Sold 10.13.23

Summary

Price $1,800,000 $1,865,000
Built/Renov 2006
Tenant Starbucks
Cap Rate 5.18% 5.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,750
Lease Start 11-08-2006
#Units 36,000
Price/SF $1,028.57 $1,065.71
Expiration 02-28-2027
Tenant Type Fast Food/QSR
NOI $93,170
R. Term 3.2
Ownership Fee Simple
Rent/SF $53.24
Increases 10.0%/4/yrs
Pop 5Mi 75,189
Lot/AC 0.53
Options 4/5yrs/10%
AHHI 5Mi $78,079

Lease Highlights

  • Starbucks has a 17+ year operating history at this location
  • The tenant has 3+ years remaining on their current lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years
  • Favorable NN+ lease with landlord responsible for maintaining structure
  • Corporate guaranteed lease by Starbucks Corporation (NASDAQ: SBUX)
  • Starbucks is an investment grade tenant (S&B: BBB+)

Location Description

This 1,750 square foot Starbucks has been operating at the property since 2006. It is strategically located in an excellent location at the signalized, hard corner intersection of Rolling Acres Road and Highway 441/U.S. 27 with access to more than 43,000 VPD. The subject property is located within a dense retail corridor adjacent to The Villages, the largest retirement community in the United...

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Maps

  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,100 21,713 78,321
2023 Total Population : 3,062 21,407 75,959
2023 Employed Civilian Pop : 1,434 9,100 19,889
2023 Total Businesses : 84 781 2,102
2023 Average Household Income : $ 61,621 $ 73,854 $ 85,247
2023 Total Consumer Spending : $ 66 M $ 638 M $ 2942 M
2023 Median Age : 42 56 67
2023 Total Households : 1,230 9,884 39,477
2023 Pop Age 25+: Bachelor's Degree : 238 2,577 13,641
2023 Average Home Value : $ 168,140 $ 260,848 $ 351,700
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Hwy 27 The Cove at Lady Lake Apts Dr 2012 27,000 0.03 mi
Citrus Boulevard Hwy 27 2021 29,500 0.38 mi
Lake Ella Rd Pvt Dr 2406 2012 1,140 0.74 mi
US Hwy 27 Oak Hill Rd 2012 30,717 0.80 mi
Griffin View Dr Ivanhoe Cir 2012 4,040 0.82 mi
Griffinview Drive Grays Airport Rd 2020 3,800 0.92 mi
Griffinview Drive Southland Rd 2021 3,800 0.92 mi
Eagles Nest Rd Harris Lake Rd 2012 3,200 1.06 mi
Lake Ella Road Fiesta Key Cir 2021 2,200 1.35 mi
Lady Lake Blvd Neil Ct 2012 685 1.37 mi

Listing Broker

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