ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Starbucks & Pie Five Pizza Co. – Pembroke Pines, FL – NN Lease

11235 Pines Boulevard

Asking Price: $4,631,220
CAP Rate: 5.0%

PROPERTY HIGHLIGHTS

  • Strategically positioned: New construction (commencing April 2017) located at a shopping center entrance near the signalized intersection of busy Pines Blvd. and Hiatus Rd. (75K combined ADT). Outparcel to Target, HomeGoods, and Pembroke Lakes Mall (1M+ SF GLA super-regional mall with 125 national retailers and restaurants). The property is adjacent to Home Depot-anchored Pembroke Lakes Square and is less than 1 mile from the upcoming Pembroke Pines City Center development (350K SF lifestyle center), and less than 3 miles from I-75.
  • Strong, recognized tenants: Starbucks has a prominent global presence with 24K+ retail stores in 70 countries. Pie Five Pizza Co. has 98 locations in 24 states (and 400 more under contract), and has been named a “2015 Best Franchise Deal” by QSR Magazine. Experienced franchisee with multiple McDonald’s locations.
  • Quality investment: 100% occupied to tenants on new, 10-year leases with built-in rent increases and options. Minimal landlord responsibilities. No state income tax
    in Florida provides a low tax burden for the investor.
  • Large, affluent trade area: 131K+ households and 390K people with an average household income of $77K+ live within 5 miles of the property. As the 10th most populous city in Florida, the Pembroke Pines trade area benefits from nearly 1M people with significant disposable income.
  • Excellent market location: Pembroke Pines, located between Fort Lauderdale and Miami, is a principal city of the Miami MSA (6M+ people as of 2015 and Florida’s largest MSA). Its convenient location offers easy accessibility to primary highways and interstates, key employment centers, retail/commercial destinations, and more.
  • There are no features available

$4,631,220

4,500 SF

Price:

$4,631,220

Cap Rate:

5.0%

Building Size:

4,500 SF

SF Land Area:

0.95 acres

Acres Property Use:

Current NOI:

$231,561

Lease Type:

NN

Remaining Term:

10 Years

Status:

Active

CONTACT BROKER

Michael Zimmerman

919.391.9901

Download Offering Memorandum
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