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Views: 0 DOM: 41 Updated: 12.07.23 Posted: 10.31.23 Status: Contract

Summary

Price $2,406,500
Built/Renov 2023
Tenant Starbucks
Cap Rate 6.15%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,231
Lease Start 06-01-2023
#Units 36,000
Price/SF $1,078.66
Expiration 05-31-2033
Tenant Type Fast Food/QSR
NOI $148,000
R. Term 9.5
Ownership Fee Simple
Rent/SF $66.34
Increases 10.0%/4/yrs
Pop 5Mi 163,571
Lot/AC 0.80
Options 0/4yrs/5%
AHHI 5Mi $115,985

Lease Highlights

  • Brand-new 2023 construction
  • Tenant executed a brand-new 10-year lease in June 2023 with 4 (5-year) options to renew
  • Lease features an increase of 10% in year 6 & at the beginning of each option
  • Favorable NN+ Lease | Minimal landlord responsibilities (roof and structure)
  • Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
  • Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

Starbucks has excellent visibility and accessibility on Illinois State Route 59, averaging a daily traffic count of 22,200 vehicles. It is strategically positioned just one mile to the south of Plainfield Central High School, which has an enrollment of over 2,000 students. Additionally, the vicinity of national tenants, including McDonald's, Dairy Queen, Dunkin', Jewel-Osco, Kohl's, Menards,...

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Maps

  • 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 : 6,321 61,436 172,500
2023 Total Population : 6,217 60,873 170,556
2023 Employed Civilian Pop : 3,510 33,836 88,964
2023 Total Businesses : 267 1,465 3,717
2023 Average Household Income : $ 140,067 $ 135,677 $ 126,789
2023 Total Consumer Spending : $ 261 M $ 2236 M $ 6167 M
2023 Median Age : 39 35 36
2023 Total Households : 2,211 19,476 57,018
2023 Pop Age 25+: Bachelor's Degree : 1,065 10,235 27,823
2023 Average Home Value : $ 337,737 $ 304,673 $ 305,105
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Renwick Rd S Division St 2012 3,200 0.15 mi
S Division St W Feeney Dr 2013 24,000 0.27 mi
IL 59 2021 22,200 0.28 mi
W Renwick Rd S Dan O'Connell Dr 2012 8,350 0.43 mi
US 30 2021 14,900 0.59 mi
Fort Beggs Dr Pratt Ln 2012 3,900 0.67 mi
Fraser Rd Vintage Dr 2012 1,250 0.67 mi
N Division St W Union St 2013 24,000 0.77 mi
River Rd S James St 2004 4,300 0.81 mi
S Joliet Rd Union St 2014 16,400 0.82 mi

Listing Broker

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