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Views: 78 DOM: 73 Updated: 11.17.24 Posted: 09.20.24 Status: Active

Summary

Price $2,870,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,400
Lease Start 12-01-2024
#Units 38,038
Price/SF $1,195.83
Expiration 02-28-2035
Tenant Type Fast Food/QSR
NOI $165,000
R. Term 10.3
Ownership Fee Simple
Rent/SF $68.75
Increases 10.0%/10/yrs
Pop 5Mi 94,098
Lot/AC 1.72
Options 4/5yrs/10%
AHHI 5Mi $115,724

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Limitied landlord responsibilities for roof, structure, and CAM administration
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Penn Avenue and Green Valley Road, a major thoroughfare with access to a combined daily traffic count of 30,700 vehicles. The property is surrounded by prominent national tenants such as Popeyes, Sheetz, Dollar Tree, Wendy’s, and Tractor Supply Co., and benefits from excellent visibility with significant street...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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Listing Broker

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