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Restaurant

Starbucks

13776 Old St Augustine Rd, Jacksonville, FL 32258

Listing Price: $3,704,545

Cap Rate
4.40%
Tenant Name
Starbucks
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
3,771
Lease Type
Double Net
Rent Per Square Feet
$43.22

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Starbucks located at 13776 Old St Augustine Rd, Jacksonville, FL 32258. The existing structure is being re-imaged as a state-of-the-art Starbucks Café with a total of 43 interior seats and 30 covered patio seats plus a drive-through. The building contains approximately 3,771 square feet of net leasable area and is situated on 0.81 acres of land. Starbucks has taken possession of the premises and is currently going through their buildout process. Estimated completion is July 2022. Jacksonville, the largest city in area in the continental United States, is a rapidly growing metropolitan city in Northeast Florida, with approximately 850,000 residents. Due to its convenient location, mild climate, reasonable cost of living, high quality of life and a business-friendly government, Jacksonville is a popular location for corporate expansions and relocations. Starbucks Corporation is an American multinational chain of coffee houses and roastery reserves headquartered in Seattle, Washington. It is the world's largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 countries, 15,444 of which were in the United States.

Investment Highlights

  • Investment Grade Rated Guarantee from Starbucks Corp – S&P: BBB+
  • Brand New 10-Year Lease With No Kick-Out Clause
  • Drive-Thru Location with 43 Interior Seats and 30 Covered Patio Seats
  • Average Household Income of $100k+ Within One-Mile Radius
  • Outparcel to Shoppes at Bartram Park – Publix & Kohl's Anchored Center
  • 10% Rental Increases Every Five Years, Providing a Hedge Against Inflation
  • Oversized 0.81 Acre Parcel With Ample On-Site Parking
  • Just off Interstate 95 - 85,000+ Vehicles Per Day

Exclusively Listed By

Financing By

Listing Price: $3,704,545

Cap Rate
4.40%
Tenant Name
Starbucks
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
3,771
Lease Type
Double Net
Rent Per Square Feet
$43.22

Investment Highlights

  • Investment Grade Rated Guarantee from Starbucks Corp – S&P: BBB+
  • Brand New 10-Year Lease With No Kick-Out Clause
  • Drive-Thru Location with 43 Interior Seats and 30 Covered Patio Seats
  • Average Household Income of $100k+ Within One-Mile Radius
  • Outparcel to Shoppes at Bartram Park – Publix & Kohl's Anchored Center
  • 10% Rental Increases Every Five Years, Providing a Hedge Against Inflation
  • Oversized 0.81 Acre Parcel With Ample On-Site Parking
  • Just off Interstate 95 - 85,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Starbucks located at 13776 Old St Augustine Rd, Jacksonville, FL 32258. The existing structure is being re-imaged as a state-of-the-art Starbucks Café with a total of 43 interior seats and 30 covered patio seats plus a drive-through. The building contains approximately 3,771 square feet of net leasable area and is situated on 0.81 acres of land. Starbucks has taken possession of the premises and is currently going through their buildout process. Estimated completion is July 2022. Jacksonville, the largest city in area in the continental United States, is a rapidly growing metropolitan city in Northeast Florida, with approximately 850,000 residents. Due to its convenient location, mild climate, reasonable cost of living, high quality of life and a business-friendly government, Jacksonville is a popular location for corporate expansions and relocations. Starbucks Corporation is an American multinational chain of coffee houses and roastery reserves headquartered in Seattle, Washington. It is the world's largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 countries, 15,444 of which were in the United States.

Exclusively Listed By

Financing By

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