Starbucks

425 Poplar Street, Sterling, CO 80751

$2,713,000

Cap Rate 5.75%

Updated: 03.08.24 Posted: 08.10.23 Status: Sold

Summary

Price $2,713,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,300	Lease Start 07-21-2023	#Units 36,000
Price/SF $1,179.57	Expiration 07-31-2033	Tenant Type Fast Food/QSR
NOI $156,000	R. Term 8.2	Ownership Fee Simple
Rent/SF $67.83	Increases 10.0%/5/yrs	Pop 5Mi 16,633
Lot/AC 0.42	Options 4/5yrs/10%	AHHI 5Mi $76,672

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 every 5 years at the beginning of each option period
Favorable NN+ lease with landlord responsible for roof & structure
Qualifies for tax savings via accelerated deprecation via cost segregation – 80% bonus depreciation related to improvements
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)

Location Description

Starbucks is strategically located near the intersection of Colorado State Highway 14 (17,000 VPD), a major east-west highway running through northeastern Colorado and Poplar Street. It is surrounded by many national retailers including Walgreens, McDonald’s, 7-Eleven, Sonic, Bank of the West, Wells Fargo, Pizza Hut, Dairy Queen and more. Strong tenant synergy increases consumer draw to the...

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Key Features

New construction
Hard corner intersection
Major thoroughfare
Highway location
Brand new lease
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Traded and rated company
Corporate Guarantee

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Links

Starbucks Wikipedia Starbucks Wikipedia Sterling, Colorado Zip Code 80751 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 :	6,922	15,510	16,448
2023 Total Population :	6,995	15,682	16,633
2023 Employed Civilian Pop :	3,319	6,952	7,412
2023 Total Businesses :	506	782	827
2023 Average Household Income :	$ 65,831	$ 74,594	$ 76,672
2023 Total Consumer Spending :	$ 172 M	$ 367 M	$ 405 M
2023 Median Age :	37	39	39
2023 Total Households :	2,973	5,632	6,044
2023 Pop Age 25+: Bachelor's Degree :	486	1,394	1,522
2023 Average Home Value :	$ 200,405	$ 241,108	$ 247,268

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North 4th Street	Main St	2020	4,800	0.06 mi
North 4th Street	Chestnut St	2021	5,374	0.09 mi
West Main Street	N 4th St	2021	10,256	0.10 mi
West Main Street	N 4th St	2020	9,200	0.10 mi
N 4th St	Chestnut St	2017	3,300	0.14 mi
Chestnut Street	N 6th St	2021	4,292	0.14 mi
Chestnut Street	N 4th St	2021	6,111	0.14 mi
Poplar Street	Poplar St	2020	8,000	0.15 mi
North 4th Street	Pine St	2021	3,148	0.15 mi
North 3rd Street	Poplar St	2021	8,858	0.16 mi

Listing Broker

Lindsey Snider

Fisher James Capital

Contact

67 Listings
13473 Views
21 Sold

Putnam Daily

Fisher James Capital

Contact

91 Listings
17530 Views
28 Sold

Lindsey Snider

Lindsey Lantis Snider is a Partner at Fisher James Capital, advising institutional and private capital clients on the disposition and acquisition of leased investment properties nationwide. Lindsey has over 15 years of experience specializing in the sale of single tenant retail properties, multi-tenant shopping centers, sale-leaseback portfolio dispositions, and 1031 exchange transactions. Lindsey attended Santa Clara University and holds a Bachelor of Science from the business school with a m

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Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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