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Views: 78 DOM: 185 Updated: 06.20.24 Posted: 01.09.24 Status: Active

Summary

Price $1,990,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 6.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,225
Lease Start 01-07-2024
#Units 36,000
Price/SF $894.38
Expiration 01-06-2034
Tenant Type Fast Food/QSR
NOI $122,375
R. Term 9.6
Ownership Fee Simple
Rent/SF $55.00
Increases 8.0%/5/yrs
Pop 5Mi 12,131
Lot/AC 0.58
Options 4/5yrs/8%
AHHI 5Mi $71,143

Lease Highlights

  • Brand-new 2023 construction
  • Starbucks signed a new 10-year lease to commence January 2024 with 4 (5-year) options to extend
  • The lease features 8% rent increases every 5 years throughout the base term and option periods
  • Landlord responsible for roof, structure & parking lot
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located with excellent frontage and accessibility along S Main St / Hwy 10, with access to 14,400 vehicles passing by daily. Conveniently, the property is positioned within an upcoming shopping center featuring major retail tenants such as Ross, Marshalls, and Bealls, all accessible through shared ingress/egress. This location holds a central and prominent position...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,683 8,622 13,049
2023 Total Population : 2,699 8,655 13,080
2023 Employed Civilian Pop : 898 3,588 5,474
2023 Total Businesses : 327 661 806
2023 Average Household Income : $ 75,704 $ 82,712 $ 80,283
2023 Total Consumer Spending : $ 80 M $ 279 M $ 403 M
2023 Median Age : 48 53 55
2023 Total Households : 1,206 3,842 5,720
2023 Pop Age 25+: Bachelor's Degree : 372 1,321 1,923
2023 Average Home Value : $ 309,133 $ 319,575 $ 304,196
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Har-Ber Road Harber Rd 2019 3,700 0.31 mi
State Park Road Hwy 59 2019 3,000 0.34 mi
Sumac E 13th St 2019 1,100 0.35 mi
Har-Ber Road W 13th St 2018 5,800 0.43 mi
East 11th Street Hazel St 2019 970 0.46 mi
Lake Road 3 Beehive Dr 2019 480 0.48 mi
S Main St W 11th St 2003 15,400 0.52 mi
West 10th Street Grand St 2019 580 0.59 mi
South Main Street W 10th St 2019 12,800 0.62 mi
East 9th Street S Hazel St 2019 280 0.66 mi

Listing Broker

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