Starbucks

508 West Trenton Avenue, Findlay, OH 45840

$2,366,717

Cap Rate 6.00%

Views: 25 DOM: 55 Updated: 04.26.24 Posted: 03.25.24 Status: Active

Summary

Price $2,366,717	Built/Renov 2023	Tenant Starbucks
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,225	Lease Start 06-05-2023	#Units 36,000
Price/SF $1,063.69	Expiration 06-30-2033	Tenant Type Fast Food/QSR
NOI $142,003	R. Term 9.1	Ownership Fee Simple
Rent/SF $63.82	Increases 10.0%/4/yrs	Pop 5Mi 53,173
Lot/AC 0.97	Options 4/5yrs/10%	AHHI 5Mi $101,697

Lease Highlights

Brand-new 2023 construction
Starbucks has 9+ year remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on West Trenton Avenue, the main retail thoroughfare with access to 21,800 vehicles passing by daily. The property holds adjacency to future development plans and is anchored by a Walmart Supercenter. Conveniently positioned near the University of Findlay campus, it benefits from excellent visibility and prominent signage along West Trenton Avenue....

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Freeway close
Affluent AHHI $100K 5 Mi
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Findlay, Ohio Zip Code 45840 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 :	8,479	39,555	51,775
2023 Total Population :	8,447	39,561	51,808
2023 Employed Civilian Pop :	4,541	20,156	26,213
2023 Total Businesses :	317	1,877	2,231
2023 Average Household Income :	$ 66,229	$ 89,330	$ 98,471
2023 Total Consumer Spending :	$ 194 M	$ 1331 M	$ 1904 M
2023 Median Age :	32	38	39
2023 Total Households :	3,367	17,122	22,314
2023 Pop Age 25+: Bachelor's Degree :	842	5,474	7,721
2023 Average Home Value :	$ 192,950	$ 214,679	$ 234,829

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Trenton Avenue	Morey Ave	2021	14,562	0.22 mi
West Foulke Avenue	N Cory St	2021	874	0.37 mi
Broad Avenue	Rockwell Ave	2021	8,970	0.38 mi
West Trenton Avenue	Broad Ave	2021	20,850	0.40 mi
Clifton Avenue	N Cory St	2021	460	0.41 mi
N Main St	E Foulke Ave	2004	15,710	0.44 mi
Edith Avenue	Delmonte Dr	2021	611	0.47 mi
I 75 Business	W Trenton Ave	2021	2,963	0.47 mi
West Melrose Avenue	Anna St	2021	2,541	0.48 mi
North Main Street	Rector Ave	2021	9,203	0.50 mi

Listing Broker

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