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Restaurant

Starbucks | Brand New Rare 20 Year Absolute Net Lease in Florida

2308 Apalachee Pkwy, Tallahassee, FL 32301

Listing Price: $4,125,000

Cap Rate
4.00%
Tenant Name
Starbucks
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
3,354
Lease Type
Absolute Net
Rent Per Square Feet
$49.19

Investment Overview

This brand new Starbucks offers a qualified buyer a true sleep at night, investment grade passive investment in a tax-free state. This oppurtunity is rare in that the lease is a true NNN, with zero landlord obligations and has a 20 year base term. Starbucks has more than 36,000 retail locations in over 80 global markets and this location features excellent visibility on a major highway, adjacent to a Target, with 41K VPD passing by the site.

Investment Highlights

  • Brand New and Rare 20 year, absolute net Starbucks lease
  • Brand New 2023 construction with a drive-thru
  • Lease calls for six 5-year renewal options and regular rent increases to hedge against inflation
  • Limited competition in immediate area with the nearest free-standing Starbucks more than 1.5-miles to the NW of the site
  • Strong in-fill location and located along a strong retail corridor and surrounded by government office buildings, with the area's largest workforce
  • Located in Florida's state capital with large population density and no state income tax

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Restaurant

Starbucks | Brand New Rare 20 Year Absolute Net Lease in Florida

Listing Price: $4,125,000

Cap Rate
4.00%
Tenant Name
Starbucks
Years Remaining On Lease
19.6
Guarantor
Corporate Guarantee
Rentable SF
3,354
Lease Type
Absolute Net
Rent Per Square Feet
$49.19

Investment Highlights

  • Brand New and Rare 20 year, absolute net Starbucks lease
  • Brand New 2023 construction with a drive-thru
  • Lease calls for six 5-year renewal options and regular rent increases to hedge against inflation
  • Limited competition in immediate area with the nearest free-standing Starbucks more than 1.5-miles to the NW of the site
  • Strong in-fill location and located along a strong retail corridor and surrounded by government office buildings, with the area's largest workforce
  • Located in Florida's state capital with large population density and no state income tax

Investment Overview

This brand new Starbucks offers a qualified buyer a true sleep at night, investment grade passive investment in a tax-free state. This oppurtunity is rare in that the lease is a true NNN, with zero landlord obligations and has a 20 year base term. Starbucks has more than 36,000 retail locations in over 80 global markets and this location features excellent visibility on a major highway, adjacent to a Target, with 41K VPD passing by the site.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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