Starbucks Anchored Retail Plaza

Retail-Commercial for Sale
Catylist Listing ID: 30704280
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 6,752 SF
Sale Price: $1,795,000
Unit Price: $265.85 PSF
Is Quick-Service Restaurant? Yes
Has Drive-Thru? Yes
Property Use Type: Net Leased Investment (NNN)
Usable Size (USF): 6,752 SF
Core Factor: 1%
Sale Terms: Cash to Seller
Cap Rate: 8.87%
Last Updated: 2/8/2021

Overview / Comments

SVN Commercial Advisory Group is pleased to represent this multiple tenanted income generating asset anchored by Starbucks and Edward Jones Corporations. Starbucks lease runs to February 28th, 2029 with a 6.5% rent increase in March 2024 then 15% for every 5 years option period thereafter. This investment provides minimal Landlord responsibilities primarily Roof, Structure and Parking Lot only. Located in a major retail corridor with excellent visibility front Manatee Avenue, a major thoroughfare that connects you to Anna Maria Island and I-75.

This sale if for the building and improvements only subject to a ground lease that expires June 30th, 2060.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 3801610559
Retail Clientele: General, Family, Traveler
Property Located Between: Downtown Bradenton and Anna Maria Island
Property Visibility: Excellent
Largest Nearby Street: Manatee Avenue/ SR 64
Feet of Frontage: 177
Highway Access: I-75 Approximately 7 miles from the subject
Airports: Sarasota Bradenton International Airport
Area Description: Major Retail corridor. Subject is an infill location surrounded by Residential development.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,688 SF
Property Condition: Excellent
Year Built: 2009
Roof Type: Flat
Construction/Siding: Block, Concrete
Total Parking Spaces: 35
Parking Ratio: 5.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking surrounding the building with additional overflow parking in the plaza parking lot
Heat Type: Electricity
Heat Source: Heat Pump
Internet Access: Cable, DSL
Zoning Description: CG - Commercial General
Lot Frontage: 177
Lot Depth: 282
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Land Ownership: Ground Lease
Legal Description: Contact Listing Agent

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,687 80,991 161,197
Median Age: 53.53 47.06 44.43
Households: 5,300 36,363 69,067

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