loader
Join Free
Views: 46 DOM: 129 Updated: 03.17.24 Posted: 01.19.24 Status: Active

Summary

Price $1,705,128
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.85%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,225
Lease Start 08-02-2023
#Units 36,000
Price/SF $766.35
Expiration 08-31-2033
Tenant Type Fast Food/QSR
NOI $99,750
R. Term 9.3
Ownership Fee Simple
Rent/SF $44.83
Increases 9.5%/5/yrs
Pop 5Mi 15,590
Lot/AC 0.81
Options 4/5yrs/10.5%
AHHI 5Mi $76,851

Lease Highlights

  • Brand new 2023 construction
  • Starbucks has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 9.5% rental increases every 5 years throughout the initial term, 10.5% at the start of option 1 and 10% at the start of each remaining option
  • Corporate guaranteed lease

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Broadway Avenue and Spire Circle, which has a combined daily traffic count of 11,804. It is situated just feet from its intersection with South Broadway (11,804 VPD) and just a quarter mile north of the on-ramp to Interstate 90 (39,518 VPD). The property boasts a prime location across from a future gas station...

...

Maps

  • 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...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

NEWSLETTER SIGN UP

Subscribe
my activity