STARBUCKS/ ASPEN DENTAL STRIP CENTER Tampa (Bartow), FL

[Pages:10]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

1590 N Broadway Ave | Bartow, FL 33830

The Meetinghouse at Bartow

Subject Site

Barton Shopping Center

N Broadway Ave 44,000 VPD

E Van Fleet Dr 36,000 VPD

Golden Gate Center

School Board Of Polk County

1590 N Broadway Ave | Bartow, FL 33830

Subject Site

N Broadway Ave 44,000 VPD

Location Highlights

20 Miles East of Tampa

44,000 VPD Pass the Site

Avg HH Income $63,039 w/1 mile

Site Plan

E Lucile Ave

Subject Site

N Broadway Ave 44,000 VPD N Park Ave

Calkain Companies | 8

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download