Starbucks

874 US Hwy 27, Lady Lake, FL 32159

$1,800,000

Cap Rate 5.18%

$1,865,000

Cap Rate 5.00%

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 1.9	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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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Highway location
Top 100 MSA
Income tax free state
Population increase trend
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Lady Lake, Florida Wikipedia 32159 Broker Site Page

Maps

Local Information

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

Bill Asher

Hanley Investment Group

Contact

151 Listings
27671 Views
75 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
26933 Views
78 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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