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Starbucks
3620 Estes Parkway, Longview, TX 75602
$2,095,000
Cap Rate 5.35%
Summary
| Price $2,095,000 | Built/Renov 2022 | Tenant Starbucks |
| Cap Rate 5.35% | Lease Type
NN+ | Guarantor Corp T and Rated |
| Size/SF
1,400
| Lease Start
12-27-2022
| #Units
36,000
|
| Price/SF $1,496.43 | Expiration
02-28-2033
| Tenant Type Fast Food/QSR |
| NOI $111,993 | R. Term 9.2 | Ownership Fee Simple |
| Rent/SF
$80.00
| Increases 7.5%/5/yrs | Pop 5Mi 35,353 |
| Lot/AC 0.86 | Options 3/5yrs/7.5% | AHHI 5Mi $58,795 |
| | |
Lease Highlights
- Starbucks recently signed a 10-year lease
- The lease features a 10% rent increase in year 6 of the primary term with 3 (5-year) options at 7.5% increases and 1 (5-year) option at 5% increase
- Favorable NN+ lease with landlord responsibilities limited to roof & structure
- Corporate guaranteed lease by Starbucks Corporation (NASAQ: SBUX)
- Starbucks is an investment grade tenant (S&P: BBB+)
Location Description
Starbucks is located at the signalized, hard corner intersection of Estes Parkway and Access Road with clear visibility and access to 17,000 vehicles passing daily. It is the only Starbucks drive-thru located with direct access to the I-20 for over 40 miles. The subject property is 2 miles south of LeTourneau University (3,200 students) and 2 miles north of Eastman Chemical (1,480 employees),...
...Features
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Signalized intersection
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Hard corner intersection
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Highway location
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Top 100 MSA
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New development zone
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Income tax free state
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Favorable NN+ lease
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Traded and rated company
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Over 2000 units backed
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Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 1,739 | 15,569 | 33,552 |
| 2023 Total Population : | 1,757 | 15,637 | 33,430 |
| 2023 Employed Civilian Pop : | 658 | 6,392 | 13,889 |
| 2023 Total Businesses : | 123 | 499 | 2,118 |
| 2023 Average Household Income : | $ 41,368 | $ 63,012 | $ 66,462 |
| 2023 Total Consumer Spending : | $ 27 M | $ 302 M | $ 722 M |
| 2023 Median Age : | 33 | 32 | 35 |
| 2023 Total Households : | 731 | 5,417 | 12,320 |
| 2023 Pop Age 25+: Bachelor's Degree : | 32 | 863 | 2,575 |
| 2023 Average Home Value : | $ 112,332 | $ 155,661 | $ 184,208 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Estes Parkway | S Access Rd | 2021 | 17,131 | 0.03 mi |
| South Access Road | Estes Pkwy | 2021 | 2,252 | 0.18 mi |
| TX 121 | I- 20 | 2020 | 31,298 | 0.23 mi |
| South Eastman Road | Estes Pkwy | 2020 | 11,313 | 0.28 mi |
| South Eastman Road | S Access Rd | 2021 | 11,841 | 0.28 mi |
| S Eastman Rd | Estes Pkwy | 2018 | 9,623 | 0.29 mi |
| TX 121 | S Mlk Jr Blvd | 2020 | 38,331 | 0.35 mi |
| SE Loop 281 | 2021 | 41,366 | 0.35 mi | |
| Rollins St | 2021 | 2,017 | 0.37 mi | |
| S Martin Luther King Jr Blvd | Rollins St | 2013 | 2,942 | 0.39 mi |
