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Starbucks
15939 Illinois Route 59, Plainfield, IL 60586
$2,406,500
Cap Rate 6.15%
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,...
...Features
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New construction
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Strategically located
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Highway location
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Top 100 MSA
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Affluent AHHI $100K 5 Mi
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Population increase trend
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Brand new lease
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Favorable NN+ lease
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Traded and rated company
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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 : | 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 |
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 |
