ADVISORY AND TRANSACTIONAL SERVICES FOR SELLERS AND INVESTORS

Starbucks & Tide Dry Cleaners – Boca Raton, FL – NN Lease

1801 Clint Moore Road

ASKING PRICE: $4,209,275
CAP RATE: 4.85%

PROPERTY HIGHLIGHTS:

  • STRATEGICALLY POSITIONED — Corner location at the signalized intersection of Clint Moore Rd. & N. Military Trail (approximately 62.5K cars ADT). Adjacent to Walgreens and across from CVS and Polo Clubs Shoppes (128K+ SF; anchored by Publix & Pet Supermarket). Less than 1/4 mile from The Polo Club of Boca Raton, an 1,100 acre, private residential community with 2 premier championship golf courses, a nationally recognized tennis facility, 35K SF world-class spa & fitness center, social & dining activities, etc.
  • STRONG, RECOGNIZABLE TENANTS — Starbucks has a prominent global presence with 24K+ retail stores in 70 countries, as well as a range of products that customers enjoy in stores, at home & on the go. Tide Dry Cleaners is the latest innovation to care for clothing, created by the same Tide at-home laundry care that customers have trusted for more than 70 years — Tide is America’s #1 Detergent, and its parent company, Procter & Gamble, ranks #34 on the Fortune 500 list.
  • QUALITY INVESTMENT — New 2016 construction with minimal landlord responsibilities. No state income tax in FL provides a low tax burden for the investor.
  • NEW LEASES — 100% occupied to tenants on new, 10-year leases with built-in rent increases & options. No kickout clauses allowing for early termination rights in either lease.
  • AFFLUENT, EXPANSIVE TRADE AREA — Over 234,000 people, with an average household income of $93K+, within 5 miles of the site. Boca Raton is one of the wealthiest communities in the U.S. and a principal city of the Miami metropolitan area (over 6 million people), with easy access from I-95 via 4 interchanges serving the city. As a business center, the city also experiences significant daytime population increases. The city is home to Office Depot’s global headquarters and Florida Atlantic University (29,000 students).
  • There are no features available

$4,209,275

3,783 SF

Price:

$4,209,275

Cap Rate:

4.85%

Building Size:

3,783 SF

SF Land Area:

1.089 acres

Current NOI:

$204,150

Lease Type:

NN

Remaining Term:

Ten (10) Years

Status:

Under Contract

CONTACT BROKER

Michael Zimmerman

(919) 391-9901

Brett Sheldon

(919) 391-9903

Download Offering Memorandum
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