Starbucks

105 N Erie Blvd, Hamilton, OH 45011

$2,215,000

Cap Rate 6.20%

$2,387,000

Cap Rate 5.75%

DOM: 142 Updated: 01.02.24 Posted: 08.06.23 Status: Sold 12.27.23

Summary

Price $2,215,000 $2,387,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 6.20% 5.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,265	Lease Start 06-27-2023	#Units 36,000
Price/SF $977.92 $1,053.86	Expiration 06-27-2033	Tenant Type Fast Food/QSR
NOI $137,259	R. Term 8.1	Ownership Fee Simple
Rent/SF $60.60	Increases 10.0%/10/yrs	Pop 5Mi 131,291
Lot/AC 1.25	Options 4/5yrs/10%	AHHI 5Mi $79,085

Lease Highlights

Brand-new 2023 construction
Starbucks recently signed a new 10-year lease with 4 (5-year) options to extend
Lease features 10% increases at the beginning of each option period
Favorable NN+ lease with landlord responsible for roof & structure
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

The brand-new high-quality construction Starbucks is strategically located on Erie Boulevard with clear visibility and access to 15,720 vehicles passing by daily. It is positioned near the intersection of High Street and Erie Boulevard with a combined traffic count of 55,226 VPD. The site is highly visible along SR 4, a major north/south artery with direct access to downtown Cincinnati....

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Key Features

New construction
Major thoroughfare
Highway location
University college close
Hospital close
Dense 100M+ pop 5 mi
New development zone
Long 10+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Starbucks Wikipedia Starbucks Wikipedia Hamilton, Ohio Zip Code 45011 Broker Site Page

Maps

Local Information

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 :	13,093	71,607	130,298
2023 Total Population :	13,047	72,147	131,424
2023 Employed Civilian Pop :	5,066	32,932	62,060
2023 Total Businesses :	618	1,777	3,480
2023 Average Household Income :	$ 54,412	$ 72,371	$ 90,095
2023 Total Consumer Spending :	$ 219 M	$ 1768 M	$ 3940 M
2023 Median Age :	35	38	39
2023 Total Households :	4,558	27,973	50,470
2023 Pop Age 25+: Bachelor's Degree :	687	6,263	15,580
2023 Average Home Value :	$ 148,218	$ 191,026	$ 226,056

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
High St	N 10th St	2014	30,650	0.13 mi
SR 128;SR 129;SR 177		2021	43,930	0.17 mi
HIGH ST	East Ave	2020	39,973	0.17 mi
High St	Mill Rd	2018	23,510	0.18 mi
Dayton Street	N 7th St	2021	7,904	0.30 mi
Hancock Ave	Maple Ave	2018	3,171	0.30 mi
Heaton Street	N 8th St	2021	7,904	0.31 mi
N 7th St	Campbell Ave	2012	3,555	0.34 mi
North 7th Street	Dayton St	2021	1,650	0.34 mi
High St	Ida Ave	2012	18,160	0.34 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
34051 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
34162 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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