3370 Bayside Lakes BlvdPalm Bay, FL 32909

This exceptional investment opportunity presents a brand-new, 2,500-square-foot Starbucks located at 3370 Bayside Lakes Blvd SE in Palm Bay, Florida (zip code 32909). The property boasts a strong 10-year net lease with a highly-rated corporate tenant (BBB+ by S&P, ranked #125 on the Fortune 500), ensuring consistent cash flow. The lease includes a 10% rent increase every five years, covering the initial term and six subsequent five-year options, providing significant long-term growth potential. Built in 2024, this modern facility features a drive-thru and patio, catering to the high volume of traffic in the area. Situated in a rapidly growing trade area with over 80,000 residents and an average household income exceeding $75,000 within a three-mile radius, this Starbucks benefits from its strategic location adjacent to a Publix-anchored grocery center and just west of I-95 (56,580 cars/day). The property's proximity to major employers like SpaceX and NASA, Florida Tech, and numerous K-12 schools, along with its location near Florida's Space Coast (attracting over 2.5 million visitors annually), ensures a robust customer base. The asking price is $3,739,000, representing a 5.75% cap rate and a price per square foot of $1,495.60, with a current NOI of $215,000. This is a tax-free state investment, offering significant advantages. The closest competing Starbucks is over eight miles away, solidifying this location's market dominance.