Restaurant
Starbucks
1960 Gainesborough Lane, Tallahassee, FL 32311
Listing Price: $2,901,800
Investment Overview
Marcus & Millichap is pleased to present this newly constructed, single-tenant Starbucks investment located at 1960 Gainsborough Lane in Tallahassee, Florida. Built in 2017, the property features a modern 2,200-square-foot Starbucks prototype with a drive-thru and a large outdoor seating patio, situated on a 1.07-acre parcel within a well-established retail corridor. The site benefits from strong visibility and accessibility along one of the area’s primary commercial thoroughfares.
The asset is leased to Starbucks under a Double Net lease that commenced in March 2017 and currently runs through March 2037, with four additional five-year renewal options. The lease provides 10% rent increases every five years, creating predictable income growth throughout the remaining term and option periods. Notably, Starbucks exercised an early renewal option, extending the lease term based on strong sales performance at this location, underscoring the tenant’s long-term commitment to the site.
The property is strategically positioned near several of Tallahassee’s largest demand drivers, including Florida State University (FSU), Florida A&M University (FAMU), and the Florida State Capitol. These institutions collectively contribute tens of thousands of students, faculty members, government employees, and daily visitors to the area, providing a consistent and diversified customer base for the tenant.
Surrounded by national retailers and daily-needs destinations, the location benefits from strong traffic counts, established residential neighborhoods, and ongoing commercial activity. The combination of a proven Starbucks location, strong lease structure, built-in rent growth, and proximity to major educational and governmental hubs makes this offering an attractive opportunity for investors seeking durable cash flow in a core Florida market.
Starbucks
Investment Highlights
- Early Lease Renewal Driven by Strong Sales: Starbucks exercised an early renewal option, extending the lease term due to strong sales performance at this location
- Long-Term Lease with Built-In Rent Growth: Lease runs through March 2037 with four five-year options and 10% rent increases every five years.
- Prime Location Near Major Universities: Located near Florida State University and Florida A&M University, together enrolling over 50,000 students and employing thousands of faculty and staff
- Proximity to Florida State Capitol: Near downtown Tallahassee and the Florida State Capitol, providing steady traffic from government professionals and visitors.
- Modern Construction with Drive-Thru: Features a contemporary 2,200-square-foot Starbucks prototype with drive-thru and outdoor seating patio.
- Established Retail Corridor: Surrounded by national retailers and daily-needs uses, supporting consistent customer traffic and long-term viability.
Exclusively Listed By
Listing Price: $2,901,800
Investment Highlights
- Early Lease Renewal Driven by Strong Sales: Starbucks exercised an early renewal option, extending the lease term due to strong sales performance at this location
- Long-Term Lease with Built-In Rent Growth: Lease runs through March 2037 with four five-year options and 10% rent increases every five years.
- Prime Location Near Major Universities: Located near Florida State University and Florida A&M University, together enrolling over 50,000 students and employing thousands of faculty and staff
- Proximity to Florida State Capitol: Near downtown Tallahassee and the Florida State Capitol, providing steady traffic from government professionals and visitors.
- Modern Construction with Drive-Thru: Features a contemporary 2,200-square-foot Starbucks prototype with drive-thru and outdoor seating patio.
- Established Retail Corridor: Surrounded by national retailers and daily-needs uses, supporting consistent customer traffic and long-term viability.
Investment Overview
Marcus & Millichap is pleased to present this newly constructed, single-tenant Starbucks investment located at 1960 Gainsborough Lane in Tallahassee, Florida. Built in 2017, the property features a modern 2,200-square-foot Starbucks prototype with a drive-thru and a large outdoor seating patio, situated on a 1.07-acre parcel within a well-established retail corridor. The site benefits from strong visibility and accessibility along one of the area’s primary commercial thoroughfares. The asset is leased to Starbucks under a Double Net lease that commenced in March 2017 and currently runs through March 2037, with four additional five-year renewal options. The lease provides 10% rent increases every five years, creating predictable income growth throughout the remaining term and option periods. Notably, Starbucks exercised an early renewal option, extending the lease term based on strong sales performance at this location, underscoring the tenant’s long-term commitment to the site. The property is strategically positioned near several of Tallahassee’s largest demand drivers, including Florida State University (FSU), Florida A&M University (FAMU), and the Florida State Capitol. These institutions collectively contribute tens of thousands of students, faculty members, government employees, and daily visitors to the area, providing a consistent and diversified customer base for the tenant. Surrounded by national retailers and daily-needs destinations, the location benefits from strong traffic counts, established residential neighborhoods, and ongoing commercial activity. The combination of a proven Starbucks location, strong lease structure, built-in rent growth, and proximity to major educational and governmental hubs makes this offering an attractive opportunity for investors seeking durable cash flow in a core Florida market.
Exclusively Listed By
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