901 Cortez RdBradenton, FL 34207

Property Details for 901 Cortez Rd

Year built

2012

Lot size

0.54 AC

Property size (Sq ft)

2,480 SF

Zone code

GC

Property type

Grocery and convenience stores

APN

53598.0045-9

APU

5359800459

Description

This exceptional investment opportunity presents a brand-new, 23,448-square-foot Starbucks located at 901 Cortez Rd W, Bradenton, FL 34207. The property boasts a 10-year net lease with Starbucks Corporation, commencing January 2025, and featuring six 5-year renewal options with 10% rent increases at the start of each. The annual base rent is $165,000, increasing by 10% in year six. This strategically positioned outparcel within the 274,398-square-foot Cortez Plaza enjoys excellent visibility and access on Cortez Road (42,000 vehicles per day), benefiting from strong co-tenancy with Sprouts, LA Fitness, Burlington, and PetSmart. The property, built in 2024, offers a 5.55% cap rate and a price per square foot of $126.79. The asking price is $2,972,973. Situated in a densely populated area (102,130 residents within a 3-mile radius), this investment benefits from Florida's favorable tax environment and minimal landlord responsibilities. The property is free of any encumbrances. This is a turnkey investment with significant long-term growth potential. The 2,661+/- square-foot building includes a drive-thru.

• CAP approach

  CAP return

  Valuation

  6%

  $863,314

  6.5%

  $796,906

  7%

  $739,984

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,173,378

  Geo Method

  $1,141,364

• Alternative Use

  Use

  Valuation

  Residential

  $672,220

  Hospitality

  $615,750

  Educational

  $512,296

  Medical

  $529,915

  Retail

  $796,906

Location Insight

City

Bradenton

County

Manatee

State

Florida

Latitude

27.462

Longitude

-82.5715

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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