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Views: 99 DOM: 257 Updated: 05.20.24 Posted: 09.29.23 Status: Active

Summary

Price $1,917,000
Built/Renov 2016
Tenant Caribou Coffee
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 2,559
Lease Start 07-01-2023
#Units 749
Price/SF $749.12
Expiration 04-30-2033
Tenant Type Fast Food/QSR
NOI $115,000
R. Term 8.10
Ownership Fee Simple
Rent/SF $44.94
Increases 10.0%/4/yrs
Pop 5Mi 14,552
Lot/AC 0.63
Options 3/5yrs/10%
AHHI 5Mi $81,267

Lease Highlights

  • Tenant has 9+ years of base term with 3 (5-year) options to extend
  • Lease features 10% rental increases every 5 years
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Caribou Coffee is strategically situated along E. College Drive, which sees a daily traffic count of approximately 11,100 vehicles. The subject property enjoys direct access to State Highway 23 and U.S. Highway 59, making it easily accessible for commuters. With excellent visibility and multiple points of ingress/egress, the site is well-suited for attracting customers. The surrounding area is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Caribou Coffee
  • Guarantor:Corporate
  • Company:JAB Holding Company
  • # Units:749
  • Stock:Private

About Tenant

Founded in 1992, Caribou Coffee provides innovative, high-quality handcrafted beverages, and an all-day menu including gluten-free, vegetarian, and plant-based items. Caribou has 325 company-owned...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,147 13,787 14,581
2023 Total Population : 4,135 13,747 14,552
2023 Employed Civilian Pop : 1,953 6,615 7,033
2023 Total Businesses : 255 827 857
2023 Average Household Income : $ 71,034 $ 79,313 $ 81,267
2023 Total Consumer Spending : $ 104 M $ 381 M $ 411 M
2023 Median Age : 32 34 34
2023 Total Households : 1,701 5,540 5,827
2023 Pop Age 25+: Bachelor's Degree : 612 1,954 2,091
2023 Average Home Value : $ 194,375 $ 202,552 $ 209,320
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Oconnell St E College Dr 2006 6,900 0.16 mi
Oconnell St McLaughlin Dr 2018 1,750 0.17 mi
Service Rd McLaughlin Dr 2006 2,515 0.19 mi
Mustang Trail McLaughlin Dr 2018 2,300 0.22 mi
East College Drive Hwy 23 2018 8,100 0.23 mi
Jewett St Mall St 2006 3,081 0.23 mi
Birch St Mustang Trl 2018 1,500 0.24 mi
Mall Street Mall St 2018 2,650 0.25 mi
East College Drive Sunrise Ln 2018 9,300 0.28 mi
Birch St Village Dr 2018 3,000 0.34 mi

Listing Broker

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