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Views: 79 DOM: 222 Updated: 04.11.24 Posted: 09.08.23 Status: Active

Summary

Price $1,652,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,000
Lease Start 08-01-2023
#Units 36,000
Price/SF $826.00
Expiration 08-01-2033
Tenant Type Fast Food/QSR
NOI $95,000
R. Term 9.3
Ownership Fee Simple
Rent/SF $47.50
Increases 10.0%/5/yrs
Pop 5Mi 36,941
Lot/AC 0.00
Options 6/5yrs/10%
AHHI 5Mi $76,259

Lease Highlights

  • Brand new 2023 construction
  • Starbucks recently signed a brand-new 10-year lease with 6 (5-year) options to extend
  • Lease features a 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Double NN lease with landlord responsible for roof, structure, CAM & HVAC
  • Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)

Location Description

This newly constructed Starbucks is strategically located along Black Point Road, which sees roughly 22,600 vehicles per day. As an outparcel at Mohawk Acres Plaza, anchored by Market 32 and Family Dollar, the site benefits from its position within this plaza which is ranked in the top 68% of all US neighborhood shopping centers and in the top 58% of all New York neighborhood shopping centers....

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Maps

  • 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 : 6,330 27,695 36,853
2023 Total Population : 6,355 27,580 36,941
2023 Employed Civilian Pop : 2,847 11,604 15,495
2023 Total Businesses : 227 995 1,198
2023 Average Household Income : $ 84,719 $ 67,777 $ 76,259
2023 Total Consumer Spending : $ 216 M $ 731 M $ 1043 M
2023 Median Age : 47 41 42
2023 Total Households : 2,939 12,312 15,664
2023 Pop Age 25+: Bachelor's Degree : 963 2,708 3,739
2023 Average Home Value : $ 200,219 $ 173,363 $ 189,590
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Black River Boulevard North E Chestnut St 2021 16,481 0.20 mi
East Chestnut Street 2018 11,283 0.20 mi
Black River Blvd Rose Ln 2006 20,960 0.26 mi
North James Street 2018 1,667 0.27 mi
N James St 2021 10,266 0.33 mi
N George St 2021 950 0.45 mi
North Madison Street Fir St 2021 2,805 0.47 mi
N James St Black River Blvd 2006 14,920 0.51 mi
CR 47 N James St 2021 2,166 0.56 mi
Wright Settlement Road 2018 2,222 0.56 mi

Listing Broker

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