8871 Florida Blvd Baton Rouge, LA 70815

Property Details for 8871 Florida Blvd

Year built

2023

Property size

2,165 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,165 square foot Starbucks located at 8871 Florida Blvd, Baton Rouge, LA 70815. Built in 2023, this Class A property boasts a new 10-year corporate lease with Starbucks (rated BBB+ by S&P), offering a strong, credit-rated tenant with a corporate guarantee. The lease includes a 5.75% cap rate and a substantial 10% rent increase every five years throughout the primary term and four subsequent five-year option periods. The property sits on a 33,976 square foot lot and benefits from exceptional visibility and accessibility, situated directly off Florida Blvd and Airline Hwy, with combined daily traffic exceeding 96,000 vehicles. This prime location is adjacent to a newly constructed 3.5 million square foot Amazon Fulfillment Center and a high-performing Raising Cane's, further solidifying its position within a dense retail area. Within a five-mile radius, the property serves a population exceeding 200,000 residents, with an average household income surpassing $80,000 annually. The property's strong tenant, prime location, and favorable lease terms make this a compelling investment opportunity with a Net Operating Income (NOI) of $137,460. The asking price is $2,390,608. This is a single-tenant, net lease (NNN) property with 100% occupancy.