Starbucks Brand New Construction | Publix Outparcel | Tampa MSA

190 Mariner Blvd, Spring Hill, FL 34609, USA
$3,470,588

Description

Marcus & Millichap is pleased to present for sale this New Construction Net Leased Starbucks located at 190 Mariner Boulevard in Spring Hill, Florida. The subject property consists of a free-standing building comprised of 2,500 square feet of retail space with a drive thru and is situated on a .7- acre parcel of land.
Strategically located as a Publix Anchored Shopping Center outparcel the property benefits from a high number of pedestrian and vehicular traffic. The Shopping Center is located on the Hard-Signalized Intersection of Mariner Boulevard and County Line Road, a major East-West thoroughfare, which is highly visible to more than 17,521 vehicles per day. It also features excellent access. The immediate trade area is also home to a number of National and Regional retailers including but not limited to Publix, Walgreens, McDonald’s, AutoZone, Jiffy Lube, Applebee’s, BBVA Bank, and many more.
Starbucks recently signed a brand new 10 Year lease which features attractive rent increases and provide Six 5-Year option periods to extend. Construction started during summer of 2021 and is expected to be completed in Q3 2021, with rent commencing soon thereafter.
Starbucks is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. It was founded in 1971 in Pike Place Market in Seattle, Washington and it is the world’s largest coffeehouse chain. Starbucks Corporation encompasses 32,000+ Stores and annual sales over $26.5 Billion.

  • Brand New Construction | Q3 2021 Completion
  • Corporate Starbucks Guarantee | Investment Grade
  • Outparcel to Publix Anchored Shopping Center
  • No Early Kickout Clause
  • Attractive 10% Rent Increases Every 5 Years
  • Free Standing Starbucks with Drive-Thru
  • Net Lease | Limited Landlord Responsibilities
  • Fee Simple | Allowing for Depreciation
  • Strong Demographics | Population Exceeds 105,791 in Immediate Trade Area
  • Florida is a No Income Tax Free State

Property Documents

  • Starbucks-Spring-Hill-FL-om-ib
  • City: Spring Hill
  • State/county: Florida
  • Zip/Postal Code: 34609
  • Country: United States

Detail

  • Price: $3,470,588
  • Year Built: 2021

Additional details

  • CAP RATE: 4.25%
  • NOI: $147,500

Features