1685 Us-1 St. Augustine, FL 32084

This exceptional investment opportunity presents a 3,200 square foot Starbucks located at 1685 US Highway 1 S in St. Augustine, Florida. The property sits on a 0.85-acre lot and boasts a brand-new, Net Lease agreement with Starbucks Corporation (S&P: BBB+), a credit-rated tenant with a corporate guarantee. The 10-year lease commenced December 15, 2023, and includes six five-year renewal options, providing a secure investment with over nine years remaining on the initial term. Rent increases by 10% every five years, effectively hedging against inflation. The property, originally built in 2019, underwent renovations by Starbucks in 2023, showcasing their long-term commitment. The property generates a strong Net Operating Income (NOI) of $181,000, resulting in a 5.25% cap rate. This prime location benefits from high traffic counts on US Highway 1 (AADT 36,500) and SR 312 (AADT 28,000), surrounded by other national retailers including Publix, Home Depot, Lowe's, Walmart, Chick-fil-A, and JP Morgan Chase. The property offers cross-access to the adjacent Seabridge Square Shopping Center. This is a rare opportunity to acquire a low-maintenance, high-return investment in a desirable location within a state without state income tax. The property offers minimal landlord responsibilities and significant long-term growth potential.