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Restaurant

Starbucks | Florida State University | Adjacent to 10,000+ Student Housing Beds

2018 W Pensacola St, Tallahassee, FL 32304

Listing Price: $3,600,000

Cap Rate
5.00%
Tenant Name
Starbucks Corporation
Years Remaining On Lease
9.9
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$1,440.00
Lease Type
Double Net
Rent Per Square Feet
$72.00

Investment Overview

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, Starbucks Corporation’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SBUX.”

Tallahassee, the capital of Florida, is the largest city in the Florida Big Bend and Florida Panhandle region, and the main center for trade and agriculture in the Florida Big Bend and Southwest Georgia regions. In 2022, the population was 201,731, making it the eighth-most populous city in the state of Florida, and the population of the Tallahassee metropolitan area was 385,145 as of 2018.

Investment Highlights

  • Brand New 10-Year Lease with Corporate Starbucks Guaranty (NASDAQ: SBUX)
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Daytime Population Exceeds 261,000 Within a Five-Mile Radius of the Subject Property
  • Immediate Proximity to Over 70,000 College Students at Florida State University, Florida A&M University, and Tallahassee Community College
  • Surrounded by Numerous Student Housing Complexes
  • Excellent Visibility Along West Pensacola Street (28,000 Cars per Day)
  • Located in WestEnd Square - Neighboring Tenants Include McDonald's, ALDI, Aaron's, and Pet Supermarket
  • New High-Quality 2024 Construction with a Drive-Thru

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Restaurant

Starbucks | Florida State University | Adjacent to 10,000+ Student Housing Beds

Listing Price: $3,600,000

Cap Rate
5.00%
Tenant Name
Starbucks Corporation
Years Remaining On Lease
9.9
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$1,440.00
Lease Type
Double Net
Rent Per Square Feet
$72.00

Investment Highlights

  • Brand New 10-Year Lease with Corporate Starbucks Guaranty (NASDAQ: SBUX)
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Daytime Population Exceeds 261,000 Within a Five-Mile Radius of the Subject Property
  • Immediate Proximity to Over 70,000 College Students at Florida State University, Florida A&M University, and Tallahassee Community College
  • Surrounded by Numerous Student Housing Complexes
  • Excellent Visibility Along West Pensacola Street (28,000 Cars per Day)
  • Located in WestEnd Square - Neighboring Tenants Include McDonald's, ALDI, Aaron's, and Pet Supermarket
  • New High-Quality 2024 Construction with a Drive-Thru

Investment Overview

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, Starbucks Corporation’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SBUX.” Tallahassee, the capital of Florida, is the largest city in the Florida Big Bend and Florida Panhandle region, and the main center for trade and agriculture in the Florida Big Bend and Southwest Georgia regions. In 2022, the population was 201,731, making it the eighth-most populous city in the state of Florida, and the population of the Tallahassee metropolitan area was 385,145 as of 2018.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    Senior Vice President/ Division Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

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