Starbucks

1166 East Main Street, Torrington, CT 06790

$2,946,000

Cap Rate 4.75%

Updated: 01.29.24 Posted: 10.27.23 Status: Inactive

Summary

Price $2,946,000	Built/Renov 2022	Tenant Starbucks
Cap Rate 4.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,084	Lease Start 01-01-2023	#Units 36,000
Price/SF $1,413.63	Expiration 01-01-2033	Tenant Type Fast Food/QSR
NOI $139,940	R. Term 7.8	Ownership Fee Simple
Rent/SF $67.15	Increases 10.0%/4/yrs	Pop 5Mi 42,806
Lot/AC 0.52	Options 6/5yrs/10%	AHHI 5Mi $99,361

Lease Highlights

Brand-new, state-of-the-art construction | Starbucks latest prototype
New 10-year lease with no kick-out clause
10% rental increases in the option periods
Significant capital contributions made by Landlord and Tenant to the remodel of the building | See Agent for details
Favorable NN+ lease with landlord responsibilities limited to roof & structure

Location Description

Starbucks is positioned on U.S. Route 202, where the daily traffic count averages 20,000 vehicles. This property is in close proximity to well-known national tenants, including BJ’s Wholesale, Dollar Tree, Chipotle, Dunkin’, Bank of America, Cumberland Farms, and Webster Bank. Additionally, it's less than one mile away from a variety of major retailers and establishments, including Walmart,...

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Key Features

New construction
Major thoroughfare
Near major nationals
Highway location
Top 100 MSA
Strong demographics
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Torrington, Connecticut Zip Code 06790 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 :	7,456	32,501	42,605
2023 Total Population :	7,515	32,851	42,965
2023 Employed Civilian Pop :	3,756	16,364	21,730
2023 Total Businesses :	352	1,670	2,062
2023 Average Household Income :	$ 97,298	$ 89,260	$ 98,488
2023 Total Consumer Spending :	$ 280 M	$ 1128 M	$ 1577 M
2023 Median Age :	50	45	45
2023 Total Households :	3,369	14,702	18,686
2023 Pop Age 25+: Bachelor's Degree :	856	3,602	5,227
2023 Average Home Value :	$ 212,901	$ 232,150	$ 262,546

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Albany Street	Buena Vista Ave	2021	100	0.08 mi
E Main St	Pfeffer Ln	2018	8,600	0.22 mi
Torringford West Street	Lyman Dr	2021	4,600	0.28 mi
Torringford West Street	Battell St	2021	6,200	0.30 mi
Charles Street	Revere St	2021	3,500	0.30 mi
Elmira Avenue	Beverly Rd	2021	150	0.30 mi
Charles St	Torringford West St	2018	77,700	0.33 mi
Charles Street	Torringford West St	2018	4,700	0.33 mi
E Main St	Greenridge Rd	2018	15,100	0.49 mi
Alvord Park Road	Chamberlain St	2021	1,600	0.51 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
49712 Views
61 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
47708 Views
59 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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