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Starbucks - Daytona Beach (New Smyrna Beach) 1906 FL-44 2,500 SF Retail Building New Smyrna Beach, FL 32168 $3,272,700 ($1,309.08/SF) 5.50% Cap Rate
Investment Highlights
- Options To Extend | 2024 Construction | Options To Extend | Corporate Signed | Scheduled Rental Increases
- Hard Corner | Outparcel to NSB Regional Shopping Center | Drive-Thru Equipped | Dense Retail Corridor | Dixie Hwy & I95
- NN Leased | Fee Simple Ownership | No State Income Tax |Limited Landlord Responsibilities
- Local Demographics in 5-Mile Trade Area | Six-Figure Income | New Smyrna Beach
Executive Summary
• 7+ years remaining with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• 2024 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements
• The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 41,000 stores
• The lease features 10% rental increases every 5 years and at the beginning of each option
• 2024 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements
• The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 41,000 stores
• The lease features 10% rental increases every 5 years and at the beginning of each option
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,500 SF
Building Class
B
Year Built
2024
Price
$3,272,700
Price Per SF
$1,309.08
Cap Rate
5.50%
NOI
$180,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.06 AC
Zoning
B-5 - Planned Shopping Center
Parking
32 Spaces (12.8 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
-
Jan 0000
Starbucks began in 1971 in Seattle's Pike Place Market as a roaster and retailer of whole bean and ground coffee, tea, and spices. The company became a coffeehouse in 1987 and has since expanded into a global business centered on coffee drinks, food, cups, and merchandise. Starbucks now connects with millions of customers every day through a broad retail network and also brings some of its branded coffee products and creamers into grocery channels. The company's business is built around coffee craftsmanship, food and beverage service, and neighborhood-focused store experiences.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7343-06-00-0720 | Improvements Assessment | $7,318,911 |
| Land Assessment | $2,652,804 | Total Assessment | $9,971,715 |
Property Taxes
Parcel Number
7343-06-00-0720
Land Assessment
$2,652,804
Improvements Assessment
$7,318,911
Total Assessment
$9,971,715
Contacts
-
William Wamble -
Patrick Luther -
Patrick Nutt -
Matthew Mousavi -
SRS Real Estate Partners
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