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Starbucks
1408 South Mustang Road, Oklahoma City, OK 73099
$2,478,000
Cap Rate 5.75%
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...
...Features
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New construction
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Dense retail corridor
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Freeway close
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Dense 100M+ pop 5 mi
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Top 100 MSA
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Strong demographics
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New development zone
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Brand new lease
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Traded and rated company
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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 : | 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 |
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 |
