35-Yr Ground Lease | Generational Leased Fee Position

Highlights:

• Bradenton FL drive-thru asset with 35 years remaining on lease agreement
• Absolute NNN ‘Ground Lease’ with zero landlord duties
• Rare Leased Fee Interest in fully-leased Bradenton drive-thru asset anchored by top-performing Starbucks
• Current Income: 70% below-market rent offers secure income and strong long-term upside
• $205K NNN income (for Leasehold position) vs. $62K projected rent (for Leased Fee position)
• Favorable rent bumps every 5 years—lesser of 15% or CPI—with next increase set by June 2025 CPI
• Long-term value-add potential upon lease expiration
• Bradenton FL— fast-growing market in the Tampa MSA with $111K avg. income (1-mi)
• 148K+ residents (5-mi)
• Top U.S. ranked market for inbound moves and net growth
• Prime frontage on Manatee Ave (FL-64, 45K VPD) near I-75, surrounded by major retail centers
• Outparcel to 120K SF Palma Sola Square with 1.1M annual visitors
• Pad positioned in front of a new 48K SF ALDI opening 2025

Description:

Faris Lee Investments is pleased to present the rare opportunity to acquire a long-term leased fee interest in a premier Starbucks-anchored multi-tenant asset located in Bradenton, Florida—a top growth market within the Tampa-Sarasota-Northport MSA. This investment represents an exceptionally rare opportunity to purchase the long term leased fee position at a rent level that is 70% below the current income generated by the property. The subject property is secured by a 35 Year NNN ground lease with zero landlord responsibilities, ideal for passive or out-of-state investors. The current ground rent, estimated to increase to $62,000 effective in July 2025, stands in stark contrast to the $205,590 of rent currently generated by the multi-tenant improvements. The improvements include a fully leased 6,752 SF drive-thru equipped building anchored by a top-performing Starbucks.

Strategically situated as an outparcel to a 120,000 SF shopping center anchored by a forthcoming 48,000 SF ALDI. The property sits at the intersection of Manatee Avenue West (FL-64, 45,000 VPD) and 59th Street West (17,258 VPD), with direct access and visibility from Manatee Avenue West that is the main artery through Bradenton, FL. The trade area is supported by major retailers including: Publix, Target, Planet Fitness, and Bealls. Bradenton continues to demonstrate dynamic growth, ranking 4th in U-Haul’s 2023 report of one-way moving destinations and 2nd in the U.S. for net population growth in 2021. With no state income tax, a dense trade area (148,000+ residents within five miles), and a household income exceeding $111,000 within a 1-mile radius, the area offers a compelling demographic profile.

This offering represents an extraordinary opportunity to acquire a long-term leased fee asset with generational-value located in a high-growth Florida market with zero management responsibility, and significant long-term value creation.

Bradenton, Florida, a vibrant city nestled along the Gulf Coast, is known for its blend of historical charm and modern development, attracting both families and
retirees. With a population of approximately 57,000 residents, its economic drivers are rooted in tourism, healthcare, and the service industry, all bolstered by
the area’s natural beauty and recreational opportunities. The city’s focus on waterfront development, cultural attractions, and community events creates a dynamic
environment for residents and visitors. Bradenton’s growing residential base supports a diverse array of local businesses and fosters a strong sense of community.
Healthcare is a significant contributor to Bradenton’s economy, with hospitals and medical facilities serving the region’s increasing population. The city’s strategic
location along major thoroughfares, including US 41 and US 301, provides convenient access to surrounding areas and contributes to its economic vitality.
Bradenton’s commitment to preserving its historical landmarks, enhancing its parks and recreational spaces, and hosting community events further enhances
its appeal. Ongoing city planning and development initiatives aim to balance growth with the preservation of its coastal character, solidifying its position as a
desirable Gulf Coast destination.