For Sale
$4,000,000

1797 Hillsborough AveTampa, FL 33603

High-Yield Net Lease, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 2,503 square foot Starbucks located at 1797 W Hillsborough Ave, Tampa, FL 33603. The property boasts a 10-year net lease with six 5-year renewal options, featuring a corporate guarantee from Starbucks Corporation. The lease includes a 10% rental increase every five years, providing inflation protection and significant NOI growth. Built in 2024, this single-story building sits on a high-traffic thoroughfare with an AADT of 54,500 vehicles. The property benefits from strong demographics, including a population of 14,423 and an average household income of $82,411 within a one-mile radius. The asking price is $4,000,000, yielding a 5.25% cap rate and a current NOI of $210,000. The property is zoned CI - Commercial Intensive, and the landlord responsibilities are limited to roof, structure, parking lot paving, and utility systems. The tenant is responsible for all other maintenance and expenses, including taxes and insurance. This is a low-maintenance, high-return investment in a prime Tampa location, offering significant long-term value and stability. The property's proximity to Tampa International Airport and major roadways further enhances its appeal. This is a rare opportunity to acquire a newly constructed, high-performing asset with a blue-chip tenant in a thriving market.

Highlights

  • 2,503 SF Starbucks on high-traffic Hillsborough Ave, Tampa, FL (AADT 54,500).
  • Strong demographics: 14,423 population and $82,411 average household income within one mile.
  • Investment-grade tenant (Starbucks Corp., S&P: BBB+) with a 10-year net lease, six 5-year options, and 10% rent increases every five years.
  • Minimal landlord responsibilities: roof, structure, parking lot paving, and utility systems; tenant responsible for all other maintenance and expenses.

Property Details for 1797 Hillsborough Ave

Property type
Retail properties
Square Feet
2,503 SF
Year Built
2024
Buildings
1
Stories
1

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
27.9963022
Longitude
-82.4800419
1797 Hillsborough Ave, Tampa, Florida

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1797 Hillsborough Ave
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