201 SE 2nd Avenue Unit 108

Gainesville, FL

Others for Sale - $695,000 - 1,887 Sq. Ft.


Agent Info

The Beery Rainsberger Group
Coldwell Banker M.M. Parrish Realtors

Property Info

CIMLS#1060778
Location
  201 SE 2nd Avenue Unit 108
  Gainesville FL 32601
UpdatedNovember 8th, 2019
TypeOthers
Price$695,000
Building1,887 Sq. Ft.

Contact


Property Description

Here is a unique opportunity to acquire a NNN Starbucks Coffee investment in downtown Gainesville located within Union Street Station. Starbucks is situated on the southwest corner of the first floor where the downtown setting boasts tremendous foot and car traffic for the chain. The property is walking distance to dozens of other restaurants, offices, retail, shopping, and is bubbling with activity on a regular basis with art shows, plays in the Hippodrome Theater next door, festivals, farmers market, and so much more. Starbucks has been in place since 1999 at this location. The current 10 year Second Extension Term was exercised by Starbucks in May 2015. The current rent is $2,869.81 NNN thru April 2020 and then in May 2020 the rent jumps to $3,184.31 NNN. There is a 3rd and 4th five year extension option for the tenant with specified rent bumps. At the time of this listing (Oct-2019), this is the best cap rate and lowest priced Starbucks listed in LoopNet in the State of Florida. Starbucks is a BBB+ rated company. All inquiries must sign a confidentiality agreement.


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