Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$2,777,000
Starbucks - Rare Self Maintain Lease
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 1,710
Cap Rate 5.75%
NOI $159,672
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Lease Term 30
Lease Expiration 09/30/2031
Remaining Term 5
Rent Bumps Yes
Lease Options 4, 5 Year Options
Year Built 2001
Acreage 0.400
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/23/2001
Ground Lease No
Minimal LL Responsibilities | Longstanding Site (25+ Years)
Marketing description
Starbucks (NASDAQ: SBUX) is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, the company purchases and roasts high-quality coffees that they sell, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through company-operated stores.
Jacksonville is the most-populous city in Florida and is the county seat of Duval County. The Jacksonville metro is in the northeastern corner of Florida, just south of the Georgia border. It is composed of five counties, with the Atlantic Ocean providing its eastern border.
Investment highlights
- 5+ Years Remaining on Corporate Lease with Starbucks (NASDAQ: SBUX)
- 8% Rental Increases Every 5 Years with Multiple Renewal Options
- Longstanding Location - Tenant has Operated at the Location for 25 Years, Showing Commitment to the Site
- Growing Jacksonville Trade Area - ±153,000 Residents within a 5-Mile Radius
- Average Household Income Exceeds $104,000 in the Immediate Area
- Signalized Hard Corner Location at the Corner of Old St. Augustine Road and San Jose Boulevard, Accessible by ±68,500 Cars per Day
- Across From The Home Depot and Surrounded by National Tenants: CVS, Dunkin’, Zaxby’s, Outback Steakhouse, and More
- Centrally Located within Roughly 10 Miles of Downtown Jacksonville, Jacksonville Naval Air Station, and University of North Florida
Listing Contacts
Listed by Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$159,672.00
$13,306.00/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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