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DOM: 190 Updated: 05.07.24 Posted: 10.17.23 Status: Sold 04.24.24

Summary

Price $2,051,000 $2,087,000
Built/Renov 2023
Tenant Gravity Coffee
Cap Rate 5.85% 5.75%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 750
Lease Start 10-01-2023
#Units 100
Price/SF $2,734.67 $2,782.67
Expiration 10-01-2048
Tenant Type Fast Food/QSR
NOI $120,000
R. Term 23.5
Ownership Fee Simple
Rent/SF $160.00
Increases 10.0%/5/yrs
Pop 5Mi 355,274
Lot/AC 0.57
Options 5/5yrs/10%
AHHI 5Mi $86,969

Lease Highlights

  • New 2023 construction with a drive-thru
  • Brand-new 25-year lease with 5 (5-year) options to extend
  • The lease features 10% rent increases every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Gravity Coffee benefits from excellent frontage and accessibility along Bell Road, a major east-west arterial with a daily traffic count of 54,000 vehicles. The subject property is situated in a dense retail corridor, adjacent to a new self-storage facility and a new 203-unit luxury senior living community. Additionally, the area is surrounded by well-known national retailers such Burger King,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Gravity Coffee
  • Guarantor:Corporate
  • Company:Gravity Coffee Company
  • # Units:100
  • Stock:Private

About Tenant

Gravity Coffee Company is an operator of drive-thru coffee shops largely based in the Pacific Northwest. Their stores feature modern architecture with a menu including proprietary syrups,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,989 119,566 345,518
2023 Total Population : 10,676 120,727 350,013
2023 Employed Civilian Pop : 5,725 64,191 182,627
2023 Total Businesses : 450 3,240 9,095
2023 Average Household Income : $ 108,447 $ 102,291 $ 99,305
2023 Total Consumer Spending : $ 363 M $ 3992 M $ 11380 M
2023 Median Age : 42 40 39
2023 Total Households : 3,917 45,307 132,598
2023 Pop Age 25+: Bachelor's Degree : 1,186 16,680 50,142
2023 Average Home Value : $ 356,399 $ 403,588 $ 396,552
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Bell Rd N 51st Ave 2010 42,717 0.13 mi
West Bell Road N 55th Ave 2018 47,417 0.18 mi
N 51st Ave W Bell Rd 2011 20,544 0.22 mi
N 51st Ave W Hartford Ave 2011 23,446 0.22 mi
W Bell Rd N 51st Ave 2010 38,426 0.27 mi
North 51st Avenue W Augusta S 2018 24,439 0.30 mi
North 51st Avenue W Kings Ave 2018 26,055 0.39 mi
W Bell Rd N 55th Ave 2015 36,100 0.39 mi
N Lindner Dr W Augusta N 2014 1,157 0.40 mi
N 51st Ave W Paradise Ln 2011 11,070 0.52 mi

Listing Broker

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