Scooter's Coffee - Riverview, FL_Property for Sale
Scooter's Coffee - Riverview, FL_Property for Sale
11662 Boyette Road, Riverview, FL, 33569, US

Scooter's Coffee - Riverview, FL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant Scooter’s Coffee (the “Property” or “Asset”) located at 11662 Boyette Road, Riverview, FL. The Property features a 10-year lease with four (4), five-year renewal options and 10% rent bumps every five years in both the primary lease term and renewal options. The lease structure operates as a ground lease and offers investors long-term cash flow with minimal  landlord expenses.


The Asset is located in Riverview, a burgeoning city in southwest Florida, and is a 15-mile drive from Downtown Tampa. The Property sits along Boyette Road (28,500 VPD) within a dense commercial corridor across from a Publix and next to a Culver’s, CVS Pharmacy, O2B Kids, AFC Urgent Care, and Express Oil Change.


The surrounding 5-mile radius has a population of over 221,000 with 43% population growth since 2010, and the surrounding 1-mile radius features an average annual household income of $120,000, well above the national average. There are also ten schools within a 3-mile radius of the Property, with a combined 8,800 students enrolled annually. Sentosa Riverview, a newly constructed 368-unit luxury multi-family complex, is being developed at the newly signalized intersection at Murphy Road – less than 2 miles from the Property.


The Offering provides investors with the opportunity to acquire over 10 years of passive cash flow from a retail tenant with four (4), 5-year renewal options.

...

Attributes

Asking price
NZ$2,509,000
Cap rate
5.7%
NOI
NZ$143,000
Building area net
62 m²
WAULT
10 years
Occupancy
100%
Year built
2024

Media

Investment Highlights

  • New 2024 construction with a 10-Year lease w/ 10% rent increases every 5-years
  • No landlord responsibilities - four, 5-year renewal options
  • Over 43% population growth since 2010 within a 5-mi radius
  • Property is 15-mi away from Downtown Tampa
  • Exposed to over 28,500 VPD with a dense commercial corridor along Boyette Road
  • Ten schools within a 3-mi radius of the property - totaling over 8,800 students enrolled
  • Scooter's Coffee is rapidly expanding and plans to open over 1,000 stores by the end of 2024


Scooter's Coffee - Riverview, FL 4_Property for Sale

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Last updated
3 Apr 2024