Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the newly constructed Scooter’s Coffee located at 9299 4th Street North in St. Petersburg, Florida. The property is offered at a 6.00% cap rate and is secured by a 20-year absolute NNN lease through December 2045. With approximately 19 years of remaining term and no landlord responsibilities, the offering provides investors with passive, predictable income. The 664-square-foot drive-thru building was completed in 2024 and is situated on 4th Street seeing over 36,000 VPD. The lease includes 10% rent increases every five years, increasing annual rent from $122,000 to $162,382 during the initial term and providing built-in income growth. The lease also includes Four (5) Year renewal options with continued rent increases, supporting additional long-term income potential, and is backed by a personal guarantee. Scooter’s Coffee operates more than 930 locations across 32 states and continues to expand its national footprint. The property is positioned along the high-traffic 4th Street North corridor, near Gandy Boulevard, I-275, and the Gateway employment district. More than 159,000 residents and approximately 76,700 households are located within five miles, with average household income exceeding $96,000. The surrounding retail market maintains a low 3.8% vacancy rate (According to CoStar), reflecting strong occupancy and limited available retail space.