Starbucks

1504 Southwest 27th Street, El Reno, OK 73036

$2,090,000

Cap Rate 6.15%

$2,141,666

Cap Rate 6.00%

DOM: 97 Updated: 03.11.24 Posted: 11.10.23 Status: Sold 02.15.24

Summary

Price $2,090,000 $2,141,666	Built/Renov 2023	Tenant Starbucks
Cap Rate 6.15% 6.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,225	Lease Start 10-31-2023	#Units 36,000
Price/SF $939.33 $962.55	Expiration 10-31-2033	Tenant Type Fast Food/QSR
NOI $128,500	R. Term 8.5	Ownership Fee Simple
Rent/SF $57.75	Increases 8.0%/5/yrs	Pop 5Mi 18,137
Lot/AC 0.63	Options 4/5yrs/7.5%	AHHI 5Mi $60,059

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Brand new 2023 construction
Starbucks recently executed a brand new 10-year lease with 4 (5-year) options to extend
Lease features 8% rental increase throughout the initial term and 7.5% during each option
Corporate guaranteed lease
Starbucks is an investment grade tenant (S&P:BBB+)

Location Description

This newly constructed Starbucks, equipped with a drive-thru, is strategically located along SW 27th St. (5,100 VPD), within close proximity to Interstate 40 which sees 35,000+ vehicles passing by daily. Additionally, it is across the street from a Walmart Supercenter attracting over 788,000 customers per year and adjacent to 9 hotels totaling over 337,000 S/F, providing a strong customer base...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway visibility
Top 100 MSA
Brand new lease
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia El Reno, Oklahoma Zip Code 73036 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 :	4,535	18,805	19,604
2023 Total Population :	4,241	17,373	18,119
2023 Employed Civilian Pop :	1,848	7,106	7,422
2023 Total Businesses :	113	596	646
2023 Average Household Income :	$ 72,897	$ 64,106	$ 65,350
2023 Total Consumer Spending :	$ 102 M	$ 345 M	$ 366 M
2023 Median Age :	38	36	36
2023 Total Households :	1,620	6,148	6,394
2023 Pop Age 25+: Bachelor's Degree :	586	1,414	1,543
2023 Average Home Value :	$ 199,737	$ 200,546	$ 205,296

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Southwest 27th Street	Fedderson Dr	2019	4,900	0.16 mi
S Country Club Rd	SW 27th St	2004	11,499	0.17 mi
27th St W	N2820 Rd	2017	2,300	0.26 mi
N2820 Rd	27th St W	2017	3,100	0.31 mi
Korean War Veterans Memorial Highway	N2830 Rd	2019	42,100	0.45 mi
Smith Rd W	Estate Dr	2004	788	0.46 mi
South Reno Avenue		2019	1,600	0.49 mi
South Country Club Road	Amity Ln	2019	12,900	0.52 mi
SW 27th St	Southlawn Dr	2004	3,742	0.55 mi
S Reno Ave	W Matthews St	2017	1,600	0.59 mi

Listing Broker

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