The service guide shows how to remove the floppy drive. If you are lucky, maybe it is just a matter of carefully cleaning out any debris inside the drive. There might be an electrolytic to replace too (should be clearly visible once the drive is opened to expose the board). There are a lot of YouTube videos of people refurbishing floppy drives. Our floppy drive part is SMD-340 (in the manual, bottom of page 7-6). No idea if the more common SMD-1340 is a direct replacement, there are probably other replacements too, possibly a similar Teac from the time. They seem to run $20 to $50 refurbished.
Or, you could look for some other broken gear from the era that has the same drive too, but you might end up needing to refurbish it too.
There are USB floppy emulators, but reading here and elsewhere, it is a bit of a gamble, and involves at least modding the common emulator boards, possibly more trouble than its worth.