Sanford, FL - Starbucks

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, corporate signed, Starbucks investment property located in Sanford, FL (Orlando MSA). The tenant recently signed a brand new 10-year lease with 6 (5-year) option periods left to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB+) and is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. The property, which opened in Q4 2023, features a state-of-the-art design using the highest-grade materials available. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 38,000 locations worldwide.

Starbucks is strategically located at the signalized, hard corner intersection of State Highway 46 and International Parkway, averaging a combined 48,800 vehicles passing by daily. The site benefits from nearby access onto Interstate 4 (131,000 VPD), making this a centralized location with easy commutes for both employees
and customers. Starbucks is ideally situated within a dense trade area and is within proximity to Towne Center Plaza (87K+ SF), Gateway Plaza (229K+ SF), Seminole Towne Center (632K+ SF), and other major shopping centers. The surrounding national/credit tenants include Walmart Supercenter, Best Buy, Target, Publix, BJ’s, ALDI, AutoZone, and others. The strong tenant synergy increases consumer draw to the immediate trade area, promotes crossover store exposure, and supports the local economy. Furthermore, the subject is near numerous single-family communities and multi-family complexes including Bell Lake Forest (209 units), Viridian Reserve (260 units), Integra Crossings (348 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 106,300 residents and 59,000 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast an affluent average household income of $117,311, $127,626, and $116,918, respectively.