Listed by Cushman & Wakefield - Sacramento, California
$4,023,000
Starbucks | Tallahassee, FL
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,500
Cap Rate 5.5%
NOI $221,250
Tenancy Single
Brand/Tenant Starbucks, Dunkin'
Lease Type NN+
Lease Expiration 07/30/2040
Remaining Term 14.9
Rent Bumps Yes
Broker Co-Op Yes
Year Built 2025
Acreage 1.120
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Rent Commencement 07/20/2025
Ground Lease No
Rare 15-Year Lease | Near Florida State University (43,000+ Students)
Marketing description
New 15-year net lease to Starbucks Corporation (with no early termination clause) with 10% rental increases every 5 years during initial term and options periods.
Rare tenant maintain language, whereby Starbucks handles all day-to-day maintenance of the property.
Lease backed by Starbucks Corporation (S&P: “BBB+”), a globally recognized and financially secure tenant, offering unparalleled investment security.
High-visibility and easily accessible location at the signalized hard-corner of Capital Circle Southeast and Dick Wilson Boulevard, which experiences over 41,000 combined vehicles per day.
Excellent proximity to Apalachee Parkway, which feeds directly into Downtown Tallahassee (32,000 vehicles per day).
Outparcel to Sam’s Club, allowing the property to capture significant crossover retail opportunities.
Four miles from Florida State University, with a total enrollment of 43,000+ students, 15,000+ employees, and generates an estimated annual economic impact of over $15B.
Investment highlights
- Prime Retail Location: High-visibility and easily accessible location at the signalized hard-corner of Capital Circle Southeast and Dick Wilson Boulevard, which experiences over 41,000 combined vehicles per day.
- Reliable Tenancy: Starbucks is the world’s largest coffee chain with over 35,000 global locations.
- Strong Demographic Base: The five-mile radius serves a populous region of 133,946, with an average annual household income of $102,156 within a three-mile radius.
- Florida State University Proximity: Site is four miles from Florida State University, with a total enrollment of 43,000+ students, 15,000+ employees, and generates an estimated annual economic impact of over $15B.
- 2025 Construction: Brand-new 2025 construction featuring the latest Starbucks prototype, including a drive-thru window and outdoor seating area for added customer convenience.
- Growing Market Dynamics: Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise this Starbucks and Tallahassee for steady concurrent growth.
Listing Contacts
Listed by Cushman & Wakefield - Sacramento, California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$221,250.00
$18,437.50/mo
Valuation Metrics
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DSCR
5.5%
Cap Rate
5.5%
ROI
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