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Starbucks
1504 Southwest 27th Street, El Reno, OK 73036
$2,197,000
Cap Rate 5.85%
Summary
| Price $2,197,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 5.85% | Lease Type
Double NN | Guarantor Corp T and Rated |
| Size/SF
2,225
| Lease Start
10-31-2023
| #Units
36,000
|
| Price/SF $987.42 | Expiration
10-31-2033
| Tenant Type Fast Food/QSR |
| NOI $128,500 | R. Term 9.10 | 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 |
| | |
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...
...Features
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New construction
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Dense retail corridor
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Near major nationals
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Freeway visibility
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Top 100 MSA
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Brand new lease
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Long 10+ yr lease
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Traded and rated company
-
Corporate Guarantee
-
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 : | 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 |
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 |
