EXECUTIVE SUMMARY Starbucks | T-Mobile
EXECUTIVE SUMMARY
Starbucks | T-Mobile
1501-1505 E Fowler Avenue Tampa, FL 33612
STARBUCKS | T-MOBILE 1501-1505 E Fowler Avenue, Tampa, FL 33612
OFFERING PRICE Price Cap Rate NOI Gross Leasable Area (GLA) Price/Rentable SF Lot Size Year Built/Renovated:
LEASE SUMMARY | STARBUCKS
LEASE SUMMARY | T-MOBILE
Lease Type Roof And Structure Lease Guarantor Original Lease Term Rent Commencement Date Lease Expiration Date Remaining Least Term Options Increases
Double Net Landlord Responsible
Corporate 10 Years
1/15/2016 1/14/2026
9.5 Years 4 (5) Year 10% Every 5 Years
Lease Type Roof And Structure Lease Guarantor Original Lease Term Rent Commencement Date Lease Expiration Date Remaining Least Term Options Increases
$3,075,000 5.19%
$159,824 3,878 SF $792.93 .91 Acres 2016/2017
Double Net Landlord Responsible
Franchisee 10 Years
8/20/2017 4/19/2027 10.3 Years
1 (5) Year 3% Annual Increases
EXECUTIVE SUMMARY
Starbucks | T-Mobile
1501-1505 E Fowler Avenue Tampa, FL 33612
EXCLUSIVE LISTING
Tiktin Real Estate Investment Services is pleased to present Starbucks and T-Mobile located at 1501 - 1505 E. Fowler Avenue, Tampa, FL. This offering highlights two well positioned freestanding buildings on a single parcel. Starbucks is a 1,920 square feet building, single tenant, with a new 10 year, Double Net lease with four (5) year options. T-Mobile is a 1,958 square feet building, single tenant, with a brand new 10 year Triple - Net lease. These two freestanding buildings occupy a corner parcel totaling .91 acre of land.
The properties are situated with direct frontage and access along Fowler Avenue which experiences traffic counts in excess of 60,000 cars per day. These properties are located directly across the street from the one million square foot University Mall which is anchored by Macy's, Burlington Coat Factory, and Sears. This mall was recently purchased by RD Management based out of New York. RD Management operates over 18 million square feet of retail malls nationally and has plans in place for a complete re-imaging which will include new anchors as well as a lifestyle addition of outdoor dining, water features, and landscaping. The first new major tenant will be Studio Movie Grill which is an upscale dinein movie theater. Additionally, surrounding this Starbucks and T-Mobile are multiple national retailers such as Walgreens, Wendy's, Taco Bell,
Longhorn Steakhouse, Chili's and PNC Bank, among others.
Investment Highlights
"A" Rated Credit Tenant Large .91 Acre Corner Parcel Signalized Intersection Two Single Tenant Buildings on One Parcel Brand New Starbucks with Drive-Thru and
Brand New T-Mobile T-Mobile is a Relocation Store from Directly
Accross the Street Located Less Than One Mile From the
University of South Florida (USF), Which is Home to Over 50,000 Students
TIKTIN REAL ESTATE INVESTMENT SERVICES Tel: (305) 363-4750 Tel: (844) 4- TIKTIN Fax: (305) 675-0774
Adam J. Tiktin
James Irving
President
Investment Associate
atiktin@ jirving@
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify for any inaccuracies.
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