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Restaurant

Starbucks

475 S Dixie Hwy, Coral Gables, FL 33146

Listing Price: $4,175,000

Cap Rate
4.48%
Tenant Name
Starbucks
Years Remaining On Lease
4.5
Guarantor
Corporate Guarantee
Rentable SF
1,664
Lease Type
Double Net
Rent Per Square Feet
$113.08

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Starbucks located at 475 S Dixie Hwy, Coral Gables, FL 33146. Starbucks recently renewed their lease showing a strong commitment to the site and has just under five years remaining on the primary lease term. Starbucks has three five-year renewal options and rental increases of 12% every five years. The subject has frontage on S Dixie Hwy, one of Miami’s busiest streets with an average of 70,000 vehicles per day. In addition to the subject parking lot, there is an abundance of parking west of the property. The property is approximately one mile away from the University of Miami and Miami Metrorail’s University Station. “TheUnderline” is transforming the land below Miami's Metrorail into a 10-mile linear park, urban trail, and public art destination. The Underline is expected to bring an influx of pedestrians, runners, and bicyclists to the area. This will in turn provide a stream of new business to this significant store for Starbucks, as it will be located directly behind the subject. 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+
  • Only Starbucks on South Bound Lanes of US-1 for 25 Miles
  • Rare Opportunity to Acquire a Starbucks on S Dixie Highway in Miami
  • Average Household Income of $100k+ Within One-Mile Radius
  • Down the Street From Merrick Park – World Renowned Shopping Center
  • 12% Rental Increases Every Five Years, Providing a Hedge Against Inflation
  • Drive-Thru Location
  • Frontage on S Dixie Highway – 70,000+ Vehicles Per Day

Exclusively Listed By

Financing By

Listing Price: $4,175,000

Cap Rate
4.48%
Tenant Name
Starbucks
Years Remaining On Lease
4.5
Guarantor
Corporate Guarantee
Rentable SF
1,664
Lease Type
Double Net
Rent Per Square Feet
$113.08

Investment Highlights

  • Investment Grade Rated Guarantee from Starbucks Corp –S&P: BBB+
  • Only Starbucks on South Bound Lanes of US-1 for 25 Miles
  • Rare Opportunity to Acquire a Starbucks on S Dixie Highway in Miami
  • Average Household Income of $100k+ Within One-Mile Radius
  • Down the Street From Merrick Park – World Renowned Shopping Center
  • 12% Rental Increases Every Five Years, Providing a Hedge Against Inflation
  • Drive-Thru Location
  • Frontage on S Dixie Highway – 70,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Starbucks located at 475 S Dixie Hwy, Coral Gables, FL 33146. Starbucks recently renewed their lease showing a strong commitment to the site and has just under five years remaining on the primary lease term. Starbucks has three five-year renewal options and rental increases of 12% every five years. The subject has frontage on S Dixie Hwy, one of Miami’s busiest streets with an average of 70,000 vehicles per day. In addition to the subject parking lot, there is an abundance of parking west of the property. The property is approximately one mile away from the University of Miami and Miami Metrorail’s University Station. “TheUnderline” is transforming the land below Miami's Metrorail into a 10-mile linear park, urban trail, and public art destination. The Underline is expected to bring an influx of pedestrians, runners, and bicyclists to the area. This will in turn provide a stream of new business to this significant store for Starbucks, as it will be located directly behind the subject. 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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