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Views: 138 DOM: 269 Updated: 06.25.24 Posted: 10.17.23 Status: Active

Summary

Price $3,300,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,365
Lease Start 04-01-2024
#Units 36,000
Price/SF $1,395.35
Expiration 03-31-2039
Tenant Type Fast Food/QSR
NOI $165,000
R. Term 14.8
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...

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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 : 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
*ESRI data is presented for informational purposes only

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

Listing Broker

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