Starbucks NNN Property For Sale — Tallahassee, FL
2308 Apalachee Pkwy, Tallahassee, FL 32301
This investment offers a rare opportunity to acquire a brand new, absolute net Starbucks property with a 20-year lease. Completed in 2023, the building features a convenient drive-thru. The lease includes six 5-year renewal options and structured rent increases, providing a hedge against inflation. The property benefits from a strong in-fill location within a vibrant retail corridor, surrounded by government offices that contribute to a significant workforce. Situated in Florida’s state capital, Tallahassee, the area boasts a large population density and no state income tax. Tallahassee is also home to Florida State University, a highly-ranked public institution with over 43,000 students, further bolstering the local economy and retail demand. The property is strategically located just 2.…
- Address: 2308 Apalachee Pkwy, Tallahassee, FL 32301
- Asking price $3.88M
- 4.25% cap rate
- NOI $165,000
- 16.6 years remaining
- NNN lease
- Year built: 2023
- Building size: 3,354 SF
- Lot size: 2.32 acres
- Lease expiration: Apr 30, 2043
- Rent increases: Years 1-5: $165,000; Year 6-10: $181,500; Year 11-15: $199,650; Year 16-20: $219,615; …
- Guarantor: Corporate
Location
This Starbucks property is at 2308 Apalachee Pkwy in Tallahassee, Florida.
Asset type: QSR