Investment Offering
St. Cloud, FL - Starbucks
US Highway 192 and Murcott Drive | Saint Cloud, FL 34771
$3,680,000
Price5%
Cap Rate$184,000
NOI2,500
± SF Offering GLA1.14
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, investment grade (S&P: BBB+), Starbucks investment property located in St. Cloud, FL (Orlando MSA). The tenant, Starbucks Corporation, just signed a brand-new 10 year lease with 6 (5-year) option periods left to extend, demonstrating their commitment to the site. The property build was just completed in early 2023 and Starbucks is now open and operating. The lease features a 10% rental increase 5 years into the initial term, as well as 10% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NN with landlord responsibilities limited to roof, structure & parking lot, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 33,000 locations worldwide.
Location
Starbucks is strategically located along State Highway with clear visibility and access to an average of 30,500 vehicles passing by daily. The freestanding building is complete with a drive-thru to maximize both sales and convenience to the dense customer base immediately surrounding the site. On average, stores with drive-thrus experience higher sales than those without. The property is ideally situated within a dense retail corridor with many surrounding national/credit tenants including a Walmart Supercenter, The Home Depot, Walgreens, Publix, CVS, Dollar General, Dollar Tree, and others. The asset is also less than 3 miles east of Oaks Shopping Center, a 87,000 square foot shopping mall anchored by ALDI and Planet Fitness. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the site is less than 2 miles east of St. Cloud Middle School (1,250 Students), St. Cloud High School (2,475 Students), Michigan Avenue Elementary School (600 Students), and other nearby schools, making this site a convenient breakfast/lunch option for students, parents, and faculty. The 5-mile trade area is supported by over 77,100 residents and 16,100 daytime employees, with an average annual household income of $76,053.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215