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Starbucks
617 NC-24, Albemarle, NC 28001
$2,389,000
Cap Rate 5.65%
Summary
| Price $2,389,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 5.65% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
2,500
| Lease Start
07-01-2023
| #Units
36,000
|
| Price/SF $955.60 | Expiration
06-30-2033
| Tenant Type Fast Food/QSR |
| NOI $135,000 | R. Term 9.6 | Ownership Fee Simple |
| Rent/SF
$54.00
| Increases 10.0%/5/yrs | Pop 5Mi 22,997 |
| Lot/AC 0.92 | Options 6/5yrs/10% | AHHI 5Mi $77,646 |
| | |
Lease Highlights
- Brand new 2023 construction featuring a double drive-thru
- Starbucks recently signed a brand-new 10-year lease with 6 (5-year) options to extend
- Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
- Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
Location Description
This newly constructed Starbucks is strategically positioned with excellent access and direct visibility from along NC-24, which has a daily traffic count of over 24,000 vehicles. It boasts a prime location in close proximity to major retail anchors such as Walmart Supercenter, Lowe’s, and Ingles Markets, creating a strong consumer drive to the trade area. Situated within a bustling...
...Features
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New construction
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New prototype
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Major thoroughfare
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Dense retail corridor
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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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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 : | 2,777 | 16,405 | 24,120 |
| 2023 Total Population : | 2,710 | 16,200 | 23,938 |
| 2023 Employed Civilian Pop : | 1,145 | 6,734 | 10,169 |
| 2023 Total Businesses : | 260 | 1,068 | 1,253 |
| 2023 Average Household Income : | $ 65,898 | $ 68,709 | $ 73,086 |
| 2023 Total Consumer Spending : | $ 62 M | $ 414 M | $ 634 M |
| 2023 Median Age : | 40 | 41 | 42 |
| 2023 Total Households : | 1,074 | 6,818 | 9,833 |
| 2023 Pop Age 25+: Bachelor's Degree : | 197 | 1,468 | 2,284 |
| 2023 Average Home Value : | $ 145,498 | $ 217,320 | $ 224,912 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| NC 24;NC 27 | Mount Vernon Dr | 2021 | 14,500 | 0.06 mi |
| State Hwy 24 | Jeffries St | 2018 | 14,000 | 0.09 mi |
| US 52 | Eben St | 2021 | 13,000 | 0.17 mi |
| US 52 | Eben St | 2020 | 11,000 | 0.18 mi |
| Aquadale Rd | Eben St | 2016 | 12,000 | 0.18 mi |
| US Hwy 52 N | Henning Dr | 2018 | 21,500 | 0.23 mi |
| Ross Dr | 2021 | 22,000 | 0.25 mi | |
| US 52 Business | Nc 27 27 Byp E | 2021 | 950 | 0.37 mi |
| South 2nd Street | Boyette Dr | 2021 | 5,000 | 0.43 mi |
| South 2nd Street | Aquadale Rd | 2018 | 5,500 | 0.43 mi |
