PDF Stauc ee EXCLUSIVE LISTING Port St. Lucie, FL
[Pages:12]SEtXaCrbLuUcSkIsVCEoLfIfSeTeIN| PGort St. Lucie, FL
Offering Memorandum
Starbucks Coffee | Port St. Lucie, FL
Actual Site
PATRICK NUTT
MANAGING PARTNER
(954) 302-7365 patrick.nutt@
CCAALLKKAAIINN..CCOOMM
1
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
Financial Summary
2209 SW Gatlin Blvd | Port St. Lucie, FL 34953
Asking Price $2,710,000 | Cap Rate 4.65%
Average Cap Rate in Initial Term 5.03%
Net Operating Income (NOI)
$126,000
Rent/Month
$10,500
Rentable Square Feet
2,150+/- SF
Land Area
1.36+/- Acres
Tenant Name
Starbucks Coffee
Credit Rating
S&P: A-; Moody's: A3
Stock Symbol
Nasdaq: SBUX
Guarantor
Corporate
Ownership Type
Fee Simple
Lease Type
NN
Landlord Responsibilities
Capital Repairs to Roof*/ Structure/Parking Lot
Store Opened
February 2018
Lease Term Remaining
10 Years
Rent Commencement
February 1, 2018
Lease Expiration
February 28, 2028
Increases
8% After Lease Year 3 and 7, 10% each Option
Options
Four (4), Five (5) Year
Rent Schedule
Term Years 1-3 Years 4-7 Years 8-10 (Option 1) (Option 2) (Option 3) (Option 4)
Increases 8% 8%
10% 10% 10% 10%
Annual Rent $126,000.00 $136,080.00 $146,966.40 $161,662.60 $177,828.86 $195,611.75 $215,172.93
Monthly Rent $10,500.00 $11,340.00 $12,247.17 $13,471.88 $14,819.07 $16,300.98 $17,931.08
Investment Highlights
?? Traffic signalized corner location near Walmart, The Home Depot and Target with immediate access to and from Interstate 95
?? Corporate lease guaranty by Starbucks Corporation (S&P: A-) ?? RARE - 8% increase after year 3 and 7 of the primary term ?? Brand new construction - roof has 15 year warranty ?? Tenant responsible for routine maintenance (including pot hole repair &
re-striping of parking lot)
*New Building Comes with 15 Year Roof Warranty 2
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
Tenant Overview
About Starbucks Coffee
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 75 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 prepackaged 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.
Tenant Snapshot
# of Locations
25,000+
Stock Symbol
SBUX
Credit Rating S&P: A-
MOODY'S: A3
2017 Revenue
$22.38B
Market Cap
$ 81.5B
Actual Site
Actual Site
3
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
Tampa
Location Overview
Vero Beach
Subject Site
Subject Site
95
Port St. Lucie
Port St. Lucie
Fort Myers
West Palm Beach
Distance To:
Vero Beach West Palm Beach Fort Lauderdale Fort Myers Tampa
31 miles 50 miles 93 miles 125 miles 162 miles
Fort Lauderdale
4
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
2209 SW Gatlin Blvd | Port St. Lucie, FL 34953
Tradition Village Square
The Landing at Tradition
95
Tradition Pkwy 20,300 VPD
Subject Site SW Gaitlin Blvd
I-95 35,500 VPD
Village Pointe
Tradition Center for Innovation
95
5
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
2209 SW Gatlin Blvd | Port St. Lucie, FL 34953
I-95 35,500 VPD
95
I-95 On Ramp
Subject Site
SW Gatlin Blvd 20,300 VPD
I-95 Off Ramp
6
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum Site Plan
7
Starbucks Coffee | Port St. Lucie, FL
Offering Memorandum
Demographics
Radius
Population
2017 Population 2022 Population 2010-2017 Annual Rate 2017-2022 Annual Rate 2017 Male Population 2017 Female Population 2017 Median Age
Households
2017 Total Households 2022 Total Households 2010-2017 Annual Rate 2017-2022 Annual Rate 2017 Average Household Size
Median Household Income
2017 Median Household Income 2022 Median Household Income 2017-2022 Annual Rate
Average Household Income
2017 Average Household Income 2022 Average Household Income 2017-2022 Annual Rate
Per Capita Income
2017 Per Capita Income 2022 Per Capita Income 2017-2022 Annual Rate
1 Mile 3 Miles
4,601 4,950 1.79% 1.47% 48.7% 51.4%
37.9
47,484 51,146 1.42% 1.50% 48.9% 51.1%
39.0
1,471 1,577 1.74% 1.40%
3.13
16,249 17,435 1.28% 1.42%
2.92
$61,159 $70,864
2.99%
$57,442 $64,462
2.33%
$81,195 $95,442
3.29%
$77,568 $89,358
2.87%
$26,565 $31,090
3.20%
$27,144 $31,180
2.81%
5 Miles
108,118 116,640
1.47% 1.53% 48.7% 51.3%
40.9
38,768 41,632 1.33% 1.44%
2.79
$54,418 $60,919
2.28%
$73,195 $84,283
2.86%
$26,337 $30,175
2.76%
8
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