5867 Dogwood dr
Milton, FL 32570
Starbucks - Milton, FL · Retail Property For Sale

CBRE is pleased to present the opportunity to acquire a 2025-built Starbucks located in Milton, Santa Rosa County, Florida, located 25 miles northeast of Pensacola. Starbucks is a fee-simple NN+ investment offering corporate-guaranteed income with limited landlord responsibilities and a structured rent growth schedule extending well into the future.
The property is located in a new-construction retail pocket along Dogwood Drive (SR-89), one of Milton's primary commercial corridors and the main arterial connecting the city center to I-10, Gulf Coast beaches, and the Alabama state border. The site benefits from 19,500 vehicles of daily traffic, immediate visibility from both approach directions, and multiple access points that channels traffic efficiently without degrading operational performance.
The parcel sits directly across from Merganser Commons at Dogwood Estates, a 66,921 SF Publix-anchored shopping center that serves as the primary grocery destination for the surrounding trade area. Adjacent to the subject property, a new Urgent Care and Heartland Dental sit on either side, and a brand new McDonald's is under construction at the corner parcel of the pocket; a needs-based retail cluster that drives repeat daily traffic from the same consumer base Starbucks targets.
Starbucks executed a 10-year NN lease with six (6) five-year renewal options and 10% rent increases every five (5) years, providing a built-in hedge against inflation and a compounding rent profile over a holding period that can span decades. The lease is backed by Starbucks Corporation, a publicly traded, investment-grade tenant (NASDAQ: SBUX) with over 36,000 locations globally.
Milton and Santa Rosa County have experienced consistent population growth, with the county surpassing 211,000 residents and the city of Milton growing at more than 13% over the last five years. New residential development throughout the Dogwood Drive corridor continues to expand the daytime and evening consumer pool directly surrounding this site.