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Views: 112 DOM: 265 Updated: 07.04.24 Posted: 10.21.23 Status: Active 04.03.24

Summary

Price $2,308,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.85%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 07-01-2023
#Units 36,000
Price/SF $923.20
Expiration 06-30-2033
Tenant Type Fast Food/QSR
NOI $135,000
R. Term 8.11
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...

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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 : 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
*ESRI data is presented for informational purposes only

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

Listing Broker

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