STARBUCKS/ ASPEN DENTAL STRIP CENTER Tampa (Bartow), FL
STARBUCKS/ ASPEN DENTAL STRIP CENTER
Tampa (Bartow), FL
Actual Site Patrick Nutt Managing Partner 954.302.7365 | patrick.nutt@
OFFERING MEMORANDUM
Starbucks/Aspen Dental Financial Summary
Asking Price $4,030,000
Cap Rate 6.00%
1590 N Broadway Ave Bartow, FL 33830
Asset Summary
Net Operating Income (NOI) Rent/Month Total Rentable SF Land Area Tenants Ownership Type Lease Type Landlord Responsibilities Store Opened Lease Term Remaining Increases
$241,775 $20,147.92 6,300+/- SF 1.32+/- Acres Starbucks / Aspen Dental Fee Simple
NN Roof, Structure and CAM
2018 10 Years* 10% Every 5 Years
*Starbucks has a one-time option to terminate their lease at the end of LY 5 upon 120 days notice.
Investment Highlights
?? Brand new construction ? 2 tenants with drive-thru Starbucks ?? Corporate 10-year leases with 10% rent increases every 5 years ?? Great visibility along heavily trafficked corridor (44,000 VPD on N
Broadway Ave) ?? Bartow is 45 miles east of Tampa, FL
Rent Schedule
Tenant Starbucks
Building SF
2,535
Aspen Dental 3,765
Total 6,300
Annual Rent $110,000
$131,775
$241,775
Monthly Rent
$9,166.67
$10,981.25
$29,147.92
Lease Term 10 Yrs
10 Yrs
Lease Commencement
10/6/2018
8/16/2018
Lease Expiration 10/31/2028
8/31/2028
Options Four (4), Five (5) Yr Three (3), Five (5) Yr
Increases 10% Every 5 Yrs 10% Every 5 Yrs
Calkain Companies | 2
Site Photos
Calkain Companies | 3
Tenant Overview
About Starbucks
Starbucks Corporation is an American coffee company and coffeehouse chain. The chain was founded in Seattle, Washington in 1971; it operates 25,000 locations in 70 countries.
Starbucks locations serve hot and cold drinks, whole-bean coffee, microground instant coffee known as VIA, espresso, caffe latte, full- and loose-leaf teas including Teavana tea products, Evolution Fresh juices, Frappuccino beverages, pastries, and snacks; some offerings (including their Pumpkin Spice Latte) are seasonal or specific to the locality of the store. Many stores sell pre-packaged food items, hot and cold sandwiches, and drinkware including mugs and tumblers; select "Starbucks Evenings" locations offer beer, wine, and appetizers.Starbucks-brand coffee, ice cream and bottled cold coffee drinks are also sold at grocery stores.
About Aspen Dental
Aspen Dental practices are committed to treating patients with the compassion and respect they deserve. The practices believe in providing comprehensive care that addresses both your short- and long-term dental care needs, and promise to provide an honest, judgment-free environment where it all comes down to great care.
By 2016 Aspen Dental offered services in 33 states with 550 franchised dental facilities that serve over 15,000 patients a day. Its headquarters is in DeWitt, New York, East Syracuse. In the United States corporate dentistry or corporate dental practices such as Aspen's represents 30?40% of all dental practices.
Starbucks Snapshot
# of Locations
25,000+
Stock Symbol
SBUX
Credit Rating
S&P: A-
2017 Revenue
$22.4Bil
Aspen Dental Snapshot
Number of Locations
550+
Number of Patients
15,000
HQ Location
DeWitt, NY
Calkain Companies | 4
Location Overview
75 275
Tampa St. Petersburg
Orlando
4
4
Lakeland
Subject Site
Bradenton
Distance To
Lakeland Tampa
12 miles 45 miles
Hollywood
Orlando St. Petersburg
59 miles 67 miles
Bradenton Ft. Myers
72 miles 96 miles
Calkain Companies | 5
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