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Views: 33 DOM: 35 Updated: 06.25.24 Posted: 06.07.24 Status: Active

Summary

Price $2,656,000
Built/Renov 2022
Tenant Starbucks
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 10-01-2022
#Units 38,038
Price/SF $1,062.40
Expiration 09-30-2037
Tenant Type Fast Food/QSR
NOI $159,376
R. Term 13.2
Ownership Fee Simple
Rent/SF $63.75
Increases 10.0%/3/yrs
Pop 5Mi 20,103
Lot/AC 1.42
Options 6/5yrs/8%
AHHI 5Mi $66,752

Lease Highlights

  • New 2022 construction
  • Starbucks has 13+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and 8% at the start of each option period
  • Corporate guarantee | Investment grade tenant

Location Description

The Starbucks is strategically located on U.S. Hwy 72, the major retail thoroughfare, with access to a combined daily traffic count of 24,000 vehicles. The property is ideally situated in a dense retail corridor surrounded by well-known tenants, including Walmart Supercenter, Aldi, Walgreens, Kroger, Dollar Tree, O’Reilly Auto Parts, and more. The 5-mile trade area is supported by a population...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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