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Views: 118 DOM: 252 Updated: 07.01.24 Posted: 03.25.24 Status: Active

Summary

Price $3,178,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 1,311
Lease Start 04-01-2024
#Units 36,000
Price/SF $2,424.10
Expiration 03-31-2034
Tenant Type Fast Food/QSR
NOI $198,643
R. Term 9.4
Ownership Fee Simple
Rent/SF $151.52
Increases 7.5%/5/yrs
Pop 5Mi 101,870
Lot/AC 0.73
Options 4/5yrs/7.5%
AHHI 5Mi $98,649

Lease Highlights

  • Brand-new 2024 construction
  • Starbucks will be executing a brand-new 10-year lease with 4 (5-year) options to extend
  • The lease features 7.5% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Kentucky Route 18/Burlington Pike, with access to a combined daily traffic count of 33,297 vehicles. The property is less than a mile from the Industrial Park Employee Entrance of CVG Airport, which houses Amazon Air's Mega Hub and DHL Express's Global Super Hub. Additionally, it sits within an dense retail...

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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 : 6,500 41,839 105,169
2023 Total Population : 6,440 40,234 101,870
2023 Employed Civilian Pop : 3,689 20,486 51,842
2023 Total Businesses : 237 1,415 4,166
2023 Average Household Income : $ 90,521 $ 107,024 $ 98,649
2023 Total Consumer Spending : $ 246 M $ 1355 M $ 3327 M
2023 Median Age : 38 38 38
2023 Total Households : 3,136 14,780 39,186
2023 Pop Age 25+: Bachelor's Degree : 969 5,869 14,380
2023 Average Home Value : $ 219,140 $ 225,595 $ 221,288
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Burlington Pike Burgundy Hill Dr 2010 24,591 0.09 mi
Limaburg Rd Production Dr 2012 10,879 0.13 mi
Burlington Pike Limaburg Rd 2002 43,652 0.18 mi
KY 18 McGrath Ln 2022 33,297 0.26 mi
Burlington Pike McGrath Ln 2002 38,682 0.34 mi
Cedar Hill Ln Linden Ct 2004 762 0.44 mi
Burlington Pike Florence Pike 2013 27,279 0.54 mi
Burlington Pike Kenner Dr 2014 33,971 0.59 mi
Briargate Dr Clearbrook Dr 2004 1,108 0.62 mi
Aero Parkway 2014 12,854 0.62 mi

Listing Broker

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