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Starbucks
109 Slowbes Way, Jarrell, TX 76537
$2,365,000
Cap Rate 5.20%
Summary
| Price $2,365,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 5.20% | Lease Type
NN+ | Guarantor Corp T and Rated |
| Size/SF
2,286
| Lease Start
06-27-2023
| #Units
36,000
|
| Price/SF $1,034.56 | Expiration
06-30-2033
| Tenant Type Fast Food/QSR |
| NOI $123,000 | R. Term 9.6 | Ownership Fee Simple |
| Rent/SF
$53.81
| Increases 10.0%/5/yrs | Pop 5Mi 19,798 |
| Lot/AC 0.87 | Options 4/5yrs/8% | AHHI 5Mi $99,559 |
| | |
Lease Highlights
- New 2023 build-to-suit construction
- Starbucks recently signed a new 10-year lease with 4 (5-year) options to renew
- Rent increases by 10% at the start of Year 6 and increases by 8% at the start of each 5-year option period
- Favorable NN+ lease with landlord responsibilities limited to roof & structure
- Corporate guaranteed lease
- Starbucks is an investment grade tenant (S&P: BBB+)
Location Description
Starbucks is strategically located along I-35 with excellent access and visibility, averaging more than 86,000 vehicles passing by daily. The site is ideally situated adjacent to a newly constructed Go Wash Tunnel Car Cash and Access Health Urgent Care, in addition to numerous other national retailers including McDonald’s, Anytime Fitness, Shell, O’Reilly Auto Parts, and many more,...
...Features
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New construction
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High traffic 50M+ VPD
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Freeway visibility
-
Top 100 MSA
-
Income tax free state
-
Brand new lease
-
Accelerated depreciation
-
Favorable NN+ lease
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Traded and rated company
-
Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 3,175 | 20,363 | 28,784 |
| 2023 Total Population : | 2,951 | 15,820 | 19,798 |
| 2023 Employed Civilian Pop : | 1,469 | 7,828 | 9,877 |
| 2023 Total Businesses : | 74 | 198 | 268 |
| 2023 Average Household Income : | $ 99,368 | $ 96,948 | $ 99,559 |
| 2023 Total Consumer Spending : | $ 79 M | $ 449 M | $ 581 M |
| 2023 Median Age : | 33 | 34 | 36 |
| 2023 Total Households : | 923 | 5,350 | 6,737 |
| 2023 Pop Age 25+: Bachelor's Degree : | 306 | 1,554 | 1,900 |
| 2023 Average Home Value : | $ 372,827 | $ 350,446 | $ 371,246 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Interstate 35 Frontage Road | Pvt Rd 917 | 2021 | 2,610 | 0.04 mi |
| Co Rd 312 | 2021 | 86,008 | 0.07 mi | |
| Hugh Smith Ln | 2021 | 2,800 | 0.11 mi | |
| Co Rd 370 | I- 35 Svc Rd | 2011 | 159 | 0.12 mi |
| Co Rd 312 | Co Rd 313 E | 2010 | 540 | 0.17 mi |
| Co Rd 312 | Co Rd 313 | 2015 | 454 | 0.17 mi |
| Co Rd 306 | I- 35 Svc Rd | 2011 | 86 | 0.21 mi |
| TX 121 | Co Rd 306 | 2020 | 79,494 | 0.22 mi |
| Co Rd 313 | Co Rd 312 | 2011 | 133 | 0.31 mi |
| Co Rd 309 | Co Rd 306 | 2011 | 137 | 0.37 mi |
