Bradenton, FL Starbucks 7386 52nd Place East, Bradenton, FL Cap Rate 5.25% Bradenton ( Florida, US ) Built

$3,054,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 2,135 sq. ft.
  • Development Level: Built
  • Lot Size: 1.004 acres
  • Year Built: 2013

Description

Bradenton, FL Starbucks 7386 52nd Place East, Bradenton, FL Cap Rate 5.25%

Cap Rate: 5.25%
NOI: $160,317
Building Size: 2,135 sqft
Lot Area: 1.004 acres
Occupancy: 100%
Year Built: 2013

Price: $3,054,000 USD

DESCRIPTION
Exercised Two Options To Extend | 7+ Years Remaining |Corporate Guaranteed | Scheduled Rental Increases
• The lease is corporate guaranteed by Starbucks Corporation, an investment grade (S&P: BBB+), nationally recognized, and the world’s largest coffeehouse chain with over 32,000 locations
• Starbucks has exercised two options to extend their lease during their 14+ years of tenancy at this location, demonstrating their long-term commitment and success at this site
• More than 7 years remaining on the lease with 4 (5-year) options to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, generating NOI and hedging against inflation
NN Lease | Fee-Simple Ownership | Limited Landlord Responsibilities
• Tenant pays for CAM, taxes and insurance
• Landlord responsibilities limited to roof and structure
• Investor benefits from fee-simple ownership of the land and building
• Ideal management-free investment in a state with no state income tax
Recent Renovation | State Road 70 | Interstate 75 | Drive-Thru Equipped | Excellent Visibility & Access
• Starbucks recently renovated this site at their own expense in 2018, requiring this location to close for three weeks, illustrating their commitment and dedication to this specific site
• Positioned directly along State Road 70, a main retail and commuter thoroughfare averaging 61,000 vehicles passing by daily
• Starbucks is less than 1 mile west of Interstate 75 (135,000 VPD), increasing consumer draw from north/south travelers
• Drive-thru equipped, providing ease and convenience for customers and mitigating the spread of COVID-19
• The asset benefits from significant street frontage along State Road 70 as well as visibility from Interstate 75

Creekwood Crossing | Dense Retail Corridor | Nearby National/Credit Tenants
• Starbucks is strategically located in Creekwood Crossing, a 385,000+ SF shopping center anchored by Lowe’s Home improvement and includes other national/credit tenants such as Big Lots, Bealls, Dollar Tree, Chick-fil-A, Bob Evans and more
• The subject property is directly across from a Publix anchored shopping center and near Walmart Supercenter
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site
Strong Demographics in 5-mile Trade Area | High Density
• More than 121,800 residents and 49,300 employees support the trade area
• Features an average household income of $104,370

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

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Information is deemed to be correct but not guaranteed.