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Starbucks | Rare Self Maintain Lease 9661 San Jose Blvd 1,710 SF Retail Building Jacksonville, FL 32257 $2,777,000 ($1,623.98/SF) 5.75% Cap Rate
Investment Highlights
- 5+ Years Remaining on Corporate Lease with Starbucks (NASDAQ: SBUX)
- Longstanding Location - Tenant has Operated at the Location for 25 Years, Showing Commitment to the Site
- Average Household Income Exceeds $104,000 in the Immediate Area
- 8% Rental Increases Every 5 Years with Multiple Renewal Options
- Growing Jacksonville Trade Area - ±153,000 Residents within a 5-Mile Radius
- Signalized Hard Corner Location at the Corner of Old St. Augustine Road and San Jose Boulevard, Accessible by ±68,500 Cars per Day
Executive Summary
Starbucks (NASDAQ: SBUX) is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, the company purchases and roasts high-quality coffees that they sell, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through company-operated stores.
Jacksonville is the most-populous city in Florida and is the county seat of Duval County. The Jacksonville metro is in the northeastern corner of Florida, just south of the Georgia border. It is composed of five counties, with the Atlantic Ocean providing its eastern border.
Jacksonville is the most-populous city in Florida and is the county seat of Duval County. The Jacksonville metro is in the northeastern corner of Florida, just south of the Georgia border. It is composed of five counties, with the Atlantic Ocean providing its eastern border.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,710 SF
Building Class
B
Year Built
2001
Price
$2,777,000
Price Per SF
$1,623.98
Cap Rate
5.75%
NOI
$159,672
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.40 AC
Zoning
CCG-2
Parking
15 Spaces (8.77 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 148978-0000 | Improvements Assessment | $615,148 |
| Land Assessment | $1,242,652 | Total Assessment | $1,857,800 |
Property Taxes
Parcel Number
148978-0000
Land Assessment
$1,242,652
Improvements Assessment
$615,148
Total Assessment
$1,857,800
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