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Updated: 12.11.23 Posted: 05.18.23 Status: Sold

Summary

Price $3,474,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 4.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 07-01-2023
#Units 36,000
Price/SF $1,389.60
Expiration 06-30-2033
Tenant Type Fast Food/QSR
NOI $165,000
R. Term 8.1
Ownership Fee Simple
Rent/SF $66.00
Increases 10.0%/10/yrs
Pop 5Mi 65,871
Lot/AC 0.96
Options 6/5yrs/10%
AHHI 5Mi $83,433

Lease Highlights

  • Brand new 2023 construction
  • Starbucks recently signed a brand new 10 year lease with 6 (5-year) options
  • Lease features 10% rental increases every 10 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

This Starbucks is located off the signalized, hard corner intersection of US Highway 27 and 4 Corners Boulevard averaging 43,000 VPD. The site is part of the larger 14-acre mixed use Champions Station development that will feature a Mod Wash, Slim Chickens, 7-Eleven, Ace Hardware, Lockhart Storage, Valvoline, and more. It is also across from the newly constructed Champions Crossing development...

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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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