Listed by Sands Investment Group Los Angeles, Sands Investment Group
$3,946,900
Starbucks - Fort Walton Beach, FL
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,500
Cap Rate 5.65%
NOI $223,000
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Lease Term 10
Lease Expiration 04/30/2035
Remaining Term 8.9
Rent Bumps Yes
Lease Options 6 x 5 Year Options
Price per SqFt $1,579
Year Built 2025
Acreage 1.190
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/01/2025
Ground Lease No
Prime New Construction Starbucks | Coastal Florida Panhandle
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 2,500 SF Starbucks located at 1305 Lewis Turner Boulevard in Fort Walton Beach, FL. This newly constructed, purpose-built drive-thru Starbucks is leased directly to Starbucks, a Fortune 500 publicly traded corporation with an investment-grade credit profile and an approximate $120 billion market capitalization. The lease is backed by Starbucks Corporation itself, providing investors with the security of a direct corporate obligation from one of the world’s most recognized and established consumer brands.
Investment highlights
- Fortune 500 Corporate Credit Tenant: Tenant is Starbucks Corporation, a publicly traded Washington corporation with an approximate $120 billion market capitalization, providing investors with a direct lease obligation from one of the world's most recognized and investment-grade corporate credits.
- Purpose-Built Drive-Thru Construction: Newly constructed, single-tenant 2,500 SF Starbucks developed to the tenant’s exact specifications and featuring a fully entitled drive-thru, Starbucks’ highest-volume and most preferred operating format.
- High-Traffic Signalized Retail Corridor: Strategically positioned at the signalized intersection of Lewis Turner Blvd and Green Acres Road/Beal Pkwy, one of Fort Walton Beach’s primary commercial corridors, with approximately 35,000 VPD directly supporting Starbucks’ drive-thru-oriented business model.
- Rapidly Expanding MSA Demographics: The Crestview-Fort Walton Beach-Destin MSA population reached approximately 309,000 residents as of January 2024, with average annual growth of 5,875 residents, or 2.0% annually, since 2020; notably, 94% of this growth has been driven by net in-migration, reinforcing the area's expanding consumer base.
- Stable Military and Defense Employment Base: The surrounding trade area is supported by a significant concentration of active-duty military personnel, civilian defense employees, and their families, creating a stable, employed consumer demographic that closely aligns with Starbucks’ core customer profile.
- Business-Friendly Florida Investment Environment: Florida’s favorable tax structure, including no state income tax, combined with landlord-friendly regulations and continued population in-migration, positions the state as one of the nation’s most desirable net lease investment markets.
- Drive-Thru Format Aligned with Corporate Strategy: More than 70% of Starbucks’ U.S. transactions occur through drive-thru and mobile ordering channels, and the company has committed to equipping approximately 90% of all new stores with drive-thru capabilities, making this asset highly aligned with Starbucks’ long-term growth strategy.
- Investment-Grade Corporate Lease Structure: Corporate Starbucks lease backed by investment-grade credit ratings of BBB+ from S&P and Baa1 from Moody’s, providing investors with strong corporate financial backing.
- Strong Retail Synergy and Co-Tenancy: The property benefits from exceptional retail synergy within an established trade area anchored by national retailers, popular dining destinations, and essential service providers, while surrounding residential density and complementary co-tenancy generate reliable recurring consumer traffic throughout the day.
- Demonstrated Brand Operating Strength: Starbucks recently reported Q2 FY2026 global comparable store sales growth of 6.2%, North America comparable store sales growth of 7.1%, and consolidated net revenues of approximately $9.5 billion, underscoring the continued strength and resiliency of the brand’s operating performance.
Listing Contacts
Listed by Sands Investment Group Los Angeles, Sands Investment Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$223,000.00
$18,583.33/mo
Valuation Metrics
0
DSCR
5.65%
Cap Rate
5.65%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
