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Views: 48 DOM: 28 Updated: 09.26.24 Posted: 09.12.24 Status: Active

Summary

Price $2,867,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 11-01-2024
#Units 38,038
Price/SF $1,146.80
Expiration 10-31-2034
Tenant Type Fast Food/QSR
NOI $172,000
R. Term 10.0
Ownership Fee Simple
Rent/SF $68.80
Increases 10.0%/5/yrs
Pop 5Mi 20,967
Lot/AC 1.27
Options 6/5yrs/10%
AHHI 5Mi $88,145

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Richlands Highway, a major corridor with access to 26,000 vehicles passing by daily. The surrounding area features prominent national tenants such as Food Lion, Walmart Supercenter, Tractor Supply Co., Dunkin’, Piggly Wiggly, and McDonald’s. Additionally, the site is close to numerous single-family communities and multi-family complexes. The 5-mile trade...

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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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