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Views: 0 DOM: 47 Updated: 11.07.23 Posted: 10.25.23 Status: Active

Summary

Price $2,478,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,191
Lease Start 11-30-2022
#Units 36,000
Price/SF $1,130.99
Expiration 11-29-2032
Tenant Type Fast Food/QSR
NOI $142,500
R. Term 8.11
Ownership Fee Simple
Rent/SF $65.04
Increases 10.0%/4/yrs
Pop 5Mi 118,823
Lot/AC 0.85
Options 4/5yrs/9%
AHHI 5Mi $93,003

Lease Highlights

  • Brand new 2023 construction
  • Starbucks has 9+ years remaining on its current term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years in primary term & 9% in option periods
  • Landlord is responsible for roof, structure & foundation
  • Corporate guarantee by Starbucks Corp. an investment grade tenant (S&P: BBB+)

Location Description

This new, drive-thru equipped, Starbucks is strategically located on S. Mustang Rd. which sees 23,973 vehicles passing by daily. It is also within close proximity to both John Kilpatrick Turnpike (16,642 VPD) and Interstate 40 (48,552 VPD). It is adjacent to Mustang Creek Crossing, the largest mixed-use development in Oklahoma, featuring 260 acres of brand-new development. Once finished, the...

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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 : 14,321 58,127 131,981
2023 Total Population : 12,984 52,290 120,856
2023 Employed Civilian Pop : 6,822 27,519 61,872
2023 Total Businesses : 263 1,015 3,195
2023 Average Household Income : $ 94,814 $ 99,661 $ 95,514
2023 Total Consumer Spending : $ 426 M $ 1669 M $ 3736 M
2023 Median Age : 34 36 37
2023 Total Households : 5,197 19,516 45,445
2023 Pop Age 25+: Bachelor's Degree : 2,558 9,755 19,305
2023 Average Home Value : $ 201,787 $ 264,805 $ 251,248
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW 15th St S Mustang Rd 2016 10,659 0.21 mi
SW 15th St Timber Ridge 2015 10,132 0.41 mi
SW 15th St Wheatland Dr 2019 8,052 0.48 mi
South Mustang Road SW 15th St 2019 20,400 0.52 mi
S Mustang Rd SW 5th St 2014 18,948 0.53 mi
SW 15th St S John Kilpatrick Tpke 2016 10,207 0.79 mi
W Reno Ave Woodrun Dr 2019 17,477 0.89 mi
W Reno Ave Pointe PkwyBlvd 2019 12,827 0.90 mi
W Reno Ave Woodrun Dr 2015 14,547 0.90 mi
North Mustang Road I- 40 2019 19,500 0.94 mi

Listing Broker

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