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PROPERTY/LOT
IMMEDIATE LOCATION
AREA LOCATION
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INVESTMENT/GUARANTOR
Updated: 09.17.25 Posted: 09.17.25 Status: Active     09.17.25

Summary

Price $3,800,000
Built/Renov 2025
Tenant Starbucks
Cap Rate 5.21%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,448
Lease Start 07-10-2025
#Units 38,038
Price/SF $1,552.29
Expiration 08-01-2035
Tenant Type Fast Food/QSR
NOI $198,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $80.88
Increases 10.0%/6/yrs
Pop 5Mi 88,965
Lot/AC 1.05
Options 4/5yrs/10%
AHHI 5Mi $113,136

Highlights

  • Newly constructed 2,448 SF Starbucks drive-thru on a 1.05-acre parcel with 32 parking spaces
  • Fee simple ownership of both land and building, ideal for passive investors and 1031 exchange buyers
  • Brand new 10-year NNN lease commencing July 2025 with four 5-year renewal options
  • Lease guaranteed by Starbucks Corporation (NASDAQ: SBUX, S&P: BBB+) with 40,000+ global locations
  • Strong rental growth with 10% rent increases every five years, beginning August 2030
  • Current NOI $198,000 with 5.21% cap rate; Year 6 NOI $217,800 at 5.73% cap rate
  • Prime hard-corner pad at Shiloh Road and Monad Road near I-90 with daily traffic exceeding 21,000 VPD
  • Five-mile trade area includes 88,955 residents with average household income of $113,136

Location Description

Starbucks at 425 Henry Chapple St is strategically located along Shiloh Road in Billings, Montana, with access to a daily traffic count of approximately 21,169 vehicles. The site is surrounded by major national retailers including Scheels, Kohl’s, Chipotle, etc, driving consistent consumer traffic to the area. The property is located near several schools, residential communities, and new...

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Maps

  • 1 Mile
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Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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