Tampa, FL Starbucks

9601 E Martin Luther King Jr Blvd
Lease Type NN
Cap Rate 5.00%
Property Type Freestanding Building
Building Size 3,080 SF
Land Area 1.30 AC
Remaining Term 10 years
Property Highlights
  • New construction Starbucks with drive-thru
  • Corporate guarantee from investment grade tenant: S&P BBB+
  • Rare oversized lot (1.30 AC) and building (3,080 SF) with high residual value
  • Low relative rent per square foot
  • 10% rent increases provide hedge against inflation
  • Fee simple ownership of land and building allows for depreciation
  • Dense, infill location with high barriers to entry (74,000 day time population within 3 miles)
  • Located within Sabal Park, the largest mixed use business park on the West Coast of Florida at 1,000 Acres
  • Excellent underlying real estate fundamentals with full access from M.L.K. Jr. Blvd. and close proximity to I-75
  • 51,000 people moved to the Tampa area in 2018 making it the 9th fastest growing MSA in the U.S.
  • Florida is a tax free state