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Views: 121 DOM: 184 Updated: 10.25.24 Posted: 05.14.24 Status: Active

Summary

Price $3,336,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,555
Lease Start 07-01-2024
#Units 38,038
Price/SF $1,305.68
Expiration 07-01-2034
Tenant Type Fast Food/QSR
NOI $175,125
R. Term 9.7
Ownership Fee Simple
Rent/SF $68.54
Increases 10.0%/5/yrs
Pop 5Mi 46,667
Lot/AC 0.94
Options 6/5yrs/10%
AHHI 5Mi $77,330

Lease Highlights

  • Brand new 2024 construction
  • Starbucks recently executed a brand 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
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of W Norvell Bryant Hwy and Lecanto Hwy, with access to a combined daily traffic count of 41,600 vehicles. The property serves as an outparcel to the Shoppes at Black Diamond, a new 29-acre retail development anchored by Target. Neighboring well-known national tenants include ALDI, KFC, Starbucks, 7-Eleven, Express...

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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 : 1,111 22,554 49,757
2024 Total Population : 1,058 21,605 47,699
2024 Employed Civilian Pop : 350 6,704 15,223
2024 Total Businesses : 81 605 1,389
2024 Average Household Income : $ 102,899 $ 90,061 $ 85,350
2024 Total Consumer Spending : $ 34 M $ 790 M $ 1618 M
2024 Median Age : 63 63 62
2024 Total Households : 376 9,891 21,365
2024 Pop Age 25+: Bachelor's Degree : 203 3,000 5,905
2024 Average Home Value : $ 442,661 $ 368,748 $ 343,352
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Norvell Bryant Highway N Lakecrest Loop 2022 13,000 1.59 mi
West Pearson Street W Pearson St 2022 3,200 1.86 mi
Gulf to Lake Highway W Ancona Path 2022 18,300 2.30 mi
Roosevelt Boulevard S Columbus St 2022 6,200 2.43 mi
W Gulf To Lake Hwy N Van Nortwick Rd 2005 25,000 2.48 mi
West Mustang Boulevard N Wigwam Ter 2022 3,300 2.48 mi
South Lecanto Highway W Southern St 2022 6,000 2.55 mi
W Gulf To Lake Hwy S Rowe Ter 2005 27,500 2.82 mi
Gulf to Lake Highway W Gulf To Lake Hwy 2022 22,186 2.84 mi
W Gulf To Lake Hwy S Crystal Glen Dr 2005 22,586 2.86 mi

Listing Broker

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