Starbucks

2515 West 6th Street, Lawrence, KS 66049

$2,966,667

Cap Rate 6.00%

Views: 37 DOM: 81 Updated: 05.03.24 Posted: 02.28.24 Status: Active

Summary

Price $2,966,667	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,225	Lease Start 03-01-2024	#Units 36,000
Price/SF $1,333.33	Expiration 02-28-2039	Tenant Type Fast Food/QSR
NOI $178,000	R. Term 14.9	Ownership Fee Simple
Rent/SF $80.00	Increases 7.0%/5/yrs	Pop 5Mi 97,967
Lot/AC 0.90	Options 6/5yrs/7%	AHHI 5Mi $82,847

Lease Highlights

Brand-new 2024 construction
Starbucks will be executing a brand-new 15-year lease with 4 (5-year) options to extend at the close of escrow
The lease features 7% rental escalations throughout the initial term and each option period
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of West 6th St and Crestline Dr., the east-west thoroughfare, with access to 27,325 vehicles passing by daily. Across the street from Lawrence Country Club and neighboring some of Lawrence's most prestigious residences, the property holds a prime location. Additionally, it’s just a 3-minute drive from the University of Kansas,...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway close
University college close
Brand new lease
Long 15+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Lawrence, Kansas Zip Code 66049 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:36,000
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	14,186	81,078	98,983
2023 Total Population :	14,190	80,468	97,967
2023 Employed Civilian Pop :	8,668	44,980	54,293
2023 Total Businesses :	447	3,319	3,877
2023 Average Household Income :	$ 78,574	$ 82,370	$ 82,847
2023 Total Consumer Spending :	$ 453 M	$ 2451 M	$ 2989 M
2023 Median Age :	29	29	30
2023 Total Households :	6,566	34,096	41,351
2023 Pop Age 25+: Bachelor's Degree :	2,915	14,818	18,032
2023 Average Home Value :	$ 302,144	$ 304,642	$ 296,599

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Moundview Dr	2021	918	0.16 mi
	Moundview Dr	2021	918	0.16 mi
	Schwarz Rd	2021	9,476	0.25 mi
	Schwarz Rd	2021	9,476	0.25 mi
Rockledge Road	Canyon Dr	2021	5,574	0.29 mi
	Iowa St	2021	610	0.32 mi
	Iowa St	2021	610	0.32 mi
Lawrence Avenue	Lawrence Ave	2021	9,801	0.34 mi
West 9th Street	Centennial Dr	2018	6,575	0.34 mi
West 9th Street	Schwarz Rd	2021	8,430	0.34 mi

Listing Broker

Will Lightfoot

SHOP Companies

Contact

11 Listings
335 Views
0 Sold

Matt Maguire

SHOP Companies

Contact

11 Listings
335 Views
0 Sold

Will Lightfoot

Will Lightfoot is a partner at SHOP Oklahoma City, focusing on the sale of single tenant net lease retail properties throughout the United States. Will assists developers, corporate users, REITs, institutions, and 1031 exchange buyers in the disposition, acquisition, and sale-leaseback structuring of net lease properties. Will’s career transaction volume exceeds $1.2 Billion. Prior to joining SHOP Companies in 2021, Will spent 10 years at CBRE where he was a Senior Vice President and con

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Matt Maguire

Matt joined SHOP Companies in 2021 focusing on the sale of single tenant net lease retail properties throughout the United States. Matt assists developers, corporate users, REITs, institutions, and 1031 exchange buyers in the disposition, acquisition, and sale-leaseback structuring of net lease properties. During Matt’s career in single tenant net lease assets, he has worked directly in closing more than 100+ transactions with a combined value of more than $650MM. Born and raised in Oklaho

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