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Starbucks
1723 Homer M Adams Parkway, Alton, IL 62002
$2,217,000
Cap Rate 5.75%
Summary
| Price $2,217,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 5.75% | Lease Type
NN+ | Guarantor Corp T and Rated |
| Size/SF
2,225
| Lease Start
09-01-2023
| #Units
36,000
|
| Price/SF $996.40 | Expiration
08-31-2038
| Tenant Type Fast Food/QSR |
| NOI $127,500 | R. Term 14.8 | Ownership Fee Simple |
| Rent/SF
$57.30
| Increases 7.5%/6/yrs | Pop 5Mi 52,247 |
| Lot/AC 0.85 | Options 3/5yrs/15.56% | AHHI 5Mi $78,350 |
| | |
Lease Highlights
- Brand-new, state-of-the-art construction with Starbucks latest prototype
- 15-year transferrable roof warranty in place
- Tenant recently signed a new 15-year lease with 3 (5-year) options to extend
- The lease features a 7.5% rent increase in year 6; 15.56% in 1st option; 7.5% in options 2 & 3
- Favorable NN+ lease with landlord responsibilities limited to roof & structure
- Corporate guaranteed lease (NASDAQ: SBUX) | (S&P: BBB+)
Location Description
Starbucks is conveniently located on Homer M Adams Pkwy, which has a daily traffic count of 22,500 vehicles. The property is in close proximity to Alton Square shopping mall, which features popular stores like JCPenney and Ross. Additionally, there are several hotels nearby, including a newly developed Holiday Inn, Super 8, Hampton Inn & Suites, and Best Western. The area is also home to major...
...Features
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New construction
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Dense retail corridor
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Strong tenant synergy
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Top 100 MSA
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Brand new lease
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Long 10+ yr lease
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Favorable NN+ lease
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Traded and rated company
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Corporate Guarantee
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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 : | 3,214 | 33,599 | 51,513 |
| 2023 Total Population : | 3,269 | 34,119 | 52,247 |
| 2023 Employed Civilian Pop : | 1,409 | 15,803 | 24,047 |
| 2023 Total Businesses : | 263 | 1,373 | 1,819 |
| 2023 Average Household Income : | $ 55,782 | $ 75,359 | $ 78,350 |
| 2023 Total Consumer Spending : | $ 73 M | $ 1006 M | $ 1567 M |
| 2023 Median Age : | 39 | 41 | 42 |
| 2023 Total Households : | 1,496 | 15,263 | 22,884 |
| 2023 Pop Age 25+: Bachelor's Degree : | 270 | 3,700 | 5,495 |
| 2023 Average Home Value : | $ 122,856 | $ 154,661 | $ 160,241 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Buckmaster Ln | Homer M Adams Pkwy | 2011 | 6,500 | 0.05 mi |
| Homer M Adams Pkwy | Golf Rd | 2011 | 25,400 | 0.10 mi |
| Oakwood Ave | Buckmaster Ln | 2011 | 4,350 | 0.12 mi |
| Oakwood Ave | Valentine Ln | 2011 | 4,350 | 0.18 mi |
| Homer M Adams Pkwy | Buckmaster Ln | 2011 | 19,500 | 0.18 mi |
| Oakwood Ave | Toledo Ave | 2011 | 5,000 | 0.22 mi |
| Golf Rd | Homer M Adams Pkwy | 2011 | 1,600 | 0.23 mi |
| Golf Rd | Homer M Adams Pkwy | 2011 | 2,550 | 0.26 mi |
| Tulane St | Tonsor Pl | 2011 | 1,700 | 0.32 mi |
| Oakwood Ave | Lovejoy Ln | 2011 | 3,750 | 0.39 mi |
