Starbucks

1028 North 14th Street, Sheboygan, WI 53081

$1,433,000

Cap Rate 6.75%

Views: 33 DOM: 38 Updated: 04.11.24 Posted: 04.11.24 Status: Active

Summary

Price $1,433,000	Built/Renov 2007/2017	Tenant Starbucks
Cap Rate 6.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,767	Lease Start 07-07-2007	#Units 38,038
Price/SF $810.98	Expiration 05-31-2031	Tenant Type Fast Food/QSR
NOI $96,730	R. Term 7.0	Ownership Fee Simple
Rent/SF $54.74	Increases 4.0%/6/yrs	Pop 5Mi 47,661
Lot/AC 0.33	Options 3/5yrs/4%	AHHI 5Mi $64,002

Brad Teitelbaum

Bellagio Real Estate Partners

Contact

Lease Highlights

Starbucks has been operating in this location since 2007 
The tenant has 7 years remaining on the current lease term with 3 (5-year) options to extend
The lease features 4% rental escalations at the start of each option period
Additional billboard income with below market rent
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of N 14th Street and Erie Avenue, with access to a combined daily traffic count of 33,043 vehicles. The property boasts proximity to Kohler Spa, Whistling Straits, and Blackwolf Run Golf Course, with direct access from the Interstate. Furthermore, CVS, Walgreens, and Domino's are all conveniently situated at the...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Dense retail corridor
Near major nationals
Long operation history
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Sheboygan, Wisconsin Zip Code 53081 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:38,038
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,481	50,587	66,731
2023 Total Population :	15,414	50,534	66,664
2023 Employed Civilian Pop :	7,611	25,781	34,341
2023 Total Businesses :	938	2,063	2,671
2023 Average Household Income :	$ 61,363	$ 73,772	$ 81,377
2023 Total Consumer Spending :	$ 375 M	$ 1386 M	$ 2009 M
2023 Median Age :	35	39	41
2023 Total Households :	6,932	21,417	28,248
2023 Pop Age 25+: Bachelor's Degree :	1,556	5,983	8,977
2023 Average Home Value :	$ 193,389	$ 211,293	$ 234,763

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N 14th St	Erie Ave	2017	17,000	0.05 mi
N 14th St	Niagara Ave	2005	17,000	0.07 mi
Kohler Memorial Drive	N 15th St	2021	18,800	0.12 mi
Erie Avenue	N 8th St	2021	10,100	0.13 mi
Erie Ave	N 13th St	2017	11,800	0.14 mi
Michigan Avenue	N 7th St	2021	2,000	0.19 mi
Michigan Ave	N 12th St	2014	2,700	0.23 mi
North 14th Street	Huron Ave	2021	18,200	0.24 mi
N 17th St	Erie Ave	2002	2,300	0.24 mi
North 17th Street	Michigan Ave	2021	2,200	0.25 mi

Listing Broker

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