Scooter's Coffee

1698 Poplar Avenue, Memphis, TN 38112

$2,000,000

Cap Rate 6.00%

Views: 40 DOM: 123 Updated: 05.07.24 Posted: 01.17.24 Status: Active

Summary

Price $2,000,000	Built/Renov 2024	Tenant Scooter's Coffee
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 669	Lease Start 01-01-2024	#Units 1
Price/SF $2,989.54	Expiration 12-31-2038	Tenant Type Fast Food/QSR
NOI $120,000	R. Term 14.7	Ownership Fee Simple
Rent/SF $179.37	Increases 10.0%/5/yrs	Pop 5Mi 208,286
Lot/AC 0.30	Options 2/5yrs/10%	AHHI 5Mi $71,460

Lease Highlights

Brand-new 2024 construction
Scooter Coffee recently executed a brand-new 15-year lease with 2 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN | Zero landlord responsibilities
Franchisee guaranteed lease

Location Description

Scooter's Coffee is strategically located the signalized, hard corner intersection of Poplar Ave, N Belvedere Blvd, and N Evergreen St., which has a combined daily traffic count of 33,900 vehicles. Additionally, the property offers convenient ingress and egress points and is conveniently situated next to St. Peter Manor Senior Living. In the vicinity, notable national retailers include The...

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Key Features

New construction
Signalized intersection
Hard corner intersection
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Income tax free state
Brand new lease
Long 15+ yr lease
Personal guarantee

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Links

Scooter's Coffee Wikipedia Memphis, Tennessee Zip Code 38104 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Scooter's Coffee
Guarantor:Franchisee
Company:Franchisee
# Units:1
Stock:Private

About Tenant

Scooter’s Coffee is an American drive-thru specialty coffee kiosk chain. The private company is one of the fastest-growing drive-thru coffee franchises in the nation. Scooter’s prides itself on...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	16,032	102,025	210,343
2023 Total Population :	15,838	100,580	209,792
2023 Employed Civilian Pop :	8,641	42,853	88,803
2023 Total Businesses :	1,048	5,238	8,234
2023 Average Household Income :	$ 94,800	$ 68,657	$ 71,337
2023 Total Consumer Spending :	$ 709 M	$ 2797 M	$ 5832 M
2023 Median Age :	41	38	37
2023 Total Households :	8,603	46,379	93,260
2023 Pop Age 25+: Bachelor's Degree :	4,271	14,613	27,486
2023 Average Home Value :	$ 383,281	$ 259,580	$ 254,688

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Evergreen Street	Poplar Ave	2022	1,862	0.02 mi
North Avalon Street	Ct Ave	2022	6,258	0.31 mi
N. MCLEAN BLVD.	Jefferson Ave	2021	12,123	0.37 mi
North McLean Boulevard	Edward Ave	2022	10,283	0.37 mi
POPLAR AVE.	Stonewall St	2021	30,230	0.39 mi
Poplar Avenue	N Auburndale St	2022	22,628	0.39 mi
North McNeil Street	Joy Pl	2022	526	0.45 mi
Madison Avenue	N McNeil St	2022	10,771	0.53 mi
South Belvedere Boulevard	Peabody Ave	2022	4,716	0.69 mi
Overton Park Avenue	N Cleveland St	2022	2,068	0.78 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

138 Listings
7005 Views
40 Sold

Eric Carlton

Colliers NNN Group

Contact

149 Listings
7597 Views
42 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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