Starbucks - N. Fort Myers 3141 NE Pine Island Rd

Investment Highlights

Starbucks is located off the signalized, hard corner intersection of US Highway 41 and NE Pine Island Rd averaging 89,000 VPD The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 35,000 stores Starbucks recently signed a brand new 10-year lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site The site benefits from close proximity to a new Residential Development at Merchant?s Crossing (279 Units), further increasing consumer traffic 2023 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements The lease features 5% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation

Executive Summary

Corporate Guaranty (S&P: BBB+)Drive-Thru Equipped

• Sale Type    Investment
• Sale Condition    Build to Suit
• Property Type    Retail Retail General Retail Fast Food General Retail Freestanding Retail
• Building Size    2,500
• Year Built    2023
• Price    3,900,000
• Price Per SF    1,560
• Cap Rate    5
• NOI    195,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.07
• Land Acres    0.83 AC

• Signalized Intersection
• Drive Thru