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Starbucks
5700 Steiner Ranch Road, Austin, TX 78732
$3,667,000
Cap Rate 4.50%
Summary
| Price $3,667,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 4.50% | Lease Type
Double NN | Guarantor Franchisee |
| Size/SF
2,365
| Lease Start
04-01-2024
| #Units
36,000
|
| Price/SF $1,550.53 | Expiration
03-31-2039
| Tenant Type Fast Food/QSR |
| NOI $165,000 | R. Term 15.3 | Ownership Fee Simple |
| Rent/SF
$69.77
| Increases 8.0%/5/yrs | Pop 5Mi 76,414 |
| Lot/AC 3.41 | Options 4/5yrs/8% | AHHI 5Mi $195,876 |
| | |
Lease Highlights
- Brand new 2023 construction
- Starbucks recently signed a brand-new 15-year lease with 4 (5-year) options to extend
- Lease features 8% rental increase every 5 years throughout the initial term and at the start of each option
- Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
- Starbucks is an investment grade tenant (S&P: BBB+)
Location Description
Starbucks is strategically situated at the intersection of Farm to Market Road 620 and Steiner Ranch Boulevard, which has a combined daily traffic count of 45,000 vehicles. Located in a dense retail corridor, the subject property is within close proximity to multiple national/credit tenants including Home Depot, Target, CVS, Walgreens, and more. The property also enjoys proximity to several...
...Features
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New construction
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Signalized intersection
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Dense retail corridor
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Highway close
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Top 100 MSA
-
Income tax free state
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Brand new lease
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Long 15+ yr lease
-
Traded and rated company
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Investment grade tenant
...
Maps
Tenant
- Tenant: Starbucks
- Guarantor:Franchisee
- 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 : | 2,231 | 25,008 | 70,502 |
| 2023 Total Population : | 2,221 | 25,801 | 72,867 |
| 2023 Employed Civilian Pop : | 1,247 | 13,498 | 39,472 |
| 2023 Total Businesses : | 75 | 884 | 2,449 |
| 2023 Average Household Income : | $ 135,683 | $ 191,025 | $ 199,162 |
| 2023 Total Consumer Spending : | $ 124 M | $ 1632 M | $ 4696 M |
| 2023 Median Age : | 36 | 37 | 38 |
| 2023 Total Households : | 1,095 | 10,196 | 28,181 |
| 2023 Pop Age 25+: Bachelor's Degree : | 412 | 6,944 | 21,541 |
| 2023 Average Home Value : | $ 764,767 | $ 781,075 | $ 773,558 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Comanche Trail | 2015 | 3,248 | 0.07 mi | |
| TX 45;RM 620 | Comanche Trl | 2020 | 35,070 | 0.07 mi |
| Comanche Trl | FM 620 | 2002 | 1,990 | 0.11 mi |
| Steiner Ranch Boulevard | 2015 | 4,514 | 0.16 mi | |
| Steiner Ranch Blvd | FM 620 | 2010 | 6,950 | 0.16 mi |
| Quinlan Park Rd N | Canyon Glen Dr | 2005 | 14,980 | 0.86 mi |
| N Quinlan Park Rd | 2021 | 30,185 | 0.87 mi | |
| North Quinlan Park Road | 2015 | 19,712 | 0.88 mi | |
| Ranch Rd 620 N | Marshall Ford Rd | 2018 | 31,858 | 0.90 mi |
| Marshall Ford Rd | Mansfield View Ct | 2010 | 400 | 0.94 mi |
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