3725 Philips Hwy | Jacksonville, FL 32207
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3725 Philips Hwy
Jacksonville, FL 32207
Starbucks · Retail Property For Sale
Investment Highlights
- 2023 Construction Starbucks with 10-Year Lease & 10% Rent Increases Every 5-Years
- Strategically Located on the "Breakfast" Side of Philips Highway Capturing Morning Commuters Into the City
- Robust Demographics - Over 181,000 People Living Within a 5-Mile Radius with 2% Growth Projected by 2027
- Huge Traffic Count of Over 47,000 Cars Daily at Philips Highway and Emerson Street
- Surrounded by Hundred of Millions of Dollars of New Multifamily and Office Development/Redevelopment
Executive Summary
Trophy Investment Grade, Net Leased Asset
-10-Year Lease Corporately Guaranteed by Starbucks with Six, Five-Year Options
-Excellent 10 Percent Rent Increases Every 5-Years to Hedge Against Inflation
-Investment Grade Tenant with S&P Rating of “BBB+”
-Starbucks (NASDAQ: SBUX) is the World’s Largest Coffee House with Over 35,000 Locations in 80 Countries and $32.3 Billion in Annual Revenue (11% Increase from 2021)
-Starbucks Serves an Estimated 60 Million Customers Each Week
Rare Opportunity to Acquire a Starbucks Ten Minutes from Downtown Jacksonville, FL
-Huge Traffic Count of Over 47,500 Vehicles Per Day Immediately in Front of the Subject Property at the Intersection of Philips Highway and Emerson Street
-Strategic Location on the “Breakfast” Side of Philips Highway Capturing Morning Commuters Heading to Work in Downtown Jacksonville and Positioned Immediately Off Interstate 95 with Ingress/Egress from Emerson Road
-Phenomenal Population Density with Over 181,000 People Living within a Five-Mile Radius and Growth Projected to Reach Roughly Two Percent Between 2022 and 2027
-Located in Income Tax Free Florida, One of the Nation’s Most Economically Robust and Business Friendly States
Located in the High Growth San Marco Corridor Receiving Hundred of Millions of Dollars in Investments
-Subject Property is Surrounded by Hundreds of Millions of Dollars in Recently Constructed or Planned Multifamily Development Including Lofts at San Marco (172-Units), Eastborough (286-Units), San Marco Promenade (284-Units), The Exchange/Barlow (486-Units), and Park Place (133-Units)
-Directly Across from San Marco East Plaza, a 375,000 Square Foot Office Complex that was Recently Materially Renovated ($10 Million in Investment) and is Now 100% Occupied (as of 11/2022)
-Site Surrounded by a Host of the Nation’s Leading Retailers and Service Providers Including Gate Express Car Wash, McDonald’s, ALDI, Wendy’s, and Gate Gas Station
-Proximate to MAC Paper’s Corporate Campus, the Largest Paper Supplier in the Southeast
-10-Year Lease Corporately Guaranteed by Starbucks with Six, Five-Year Options
-Excellent 10 Percent Rent Increases Every 5-Years to Hedge Against Inflation
-Investment Grade Tenant with S&P Rating of “BBB+”
-Starbucks (NASDAQ: SBUX) is the World’s Largest Coffee House with Over 35,000 Locations in 80 Countries and $32.3 Billion in Annual Revenue (11% Increase from 2021)
-Starbucks Serves an Estimated 60 Million Customers Each Week
Rare Opportunity to Acquire a Starbucks Ten Minutes from Downtown Jacksonville, FL
-Huge Traffic Count of Over 47,500 Vehicles Per Day Immediately in Front of the Subject Property at the Intersection of Philips Highway and Emerson Street
-Strategic Location on the “Breakfast” Side of Philips Highway Capturing Morning Commuters Heading to Work in Downtown Jacksonville and Positioned Immediately Off Interstate 95 with Ingress/Egress from Emerson Road
-Phenomenal Population Density with Over 181,000 People Living within a Five-Mile Radius and Growth Projected to Reach Roughly Two Percent Between 2022 and 2027
-Located in Income Tax Free Florida, One of the Nation’s Most Economically Robust and Business Friendly States
Located in the High Growth San Marco Corridor Receiving Hundred of Millions of Dollars in Investments
-Subject Property is Surrounded by Hundreds of Millions of Dollars in Recently Constructed or Planned Multifamily Development Including Lofts at San Marco (172-Units), Eastborough (286-Units), San Marco Promenade (284-Units), The Exchange/Barlow (486-Units), and Park Place (133-Units)
-Directly Across from San Marco East Plaza, a 375,000 Square Foot Office Complex that was Recently Materially Renovated ($10 Million in Investment) and is Now 100% Occupied (as of 11/2022)
-Site Surrounded by a Host of the Nation’s Leading Retailers and Service Providers Including Gate Express Car Wash, McDonald’s, ALDI, Wendy’s, and Gate Gas Station
-Proximate to MAC Paper’s Corporate Campus, the Largest Paper Supplier in the Southeast
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,500 SF
Building Class
C
Year Built
2023
Price
$3,700,000
Price Per SF
$1,480
Cap Rate
4.32%
NOI
$160,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.24 AC
Zoning
CCG-2 - Single tenant commercial
Parking
37 Spaces (14.8 Spaces per 1,000 SF Leased)
Frontage
152 FT on Philips Hwy
Amenities
- Drive Thru
PROPERTY TAXES
| Parcel Number | 126066-1030 | Improvements Assessment | $1,080,890 |
| Land Assessment | $810,210 | Total Assessment | $1,891,100 |
PROPERTY TAXES
Parcel Number
126066-1030
Land Assessment
$810,210
Improvements Assessment
$1,080,890
Total Assessment
$1,891,100
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