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Views: 32 DOM: 72 Updated: 04.11.24 Posted: 03.06.24 Status: Active

Summary

Price $2,895,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,365
Lease Start 01-30-2024
#Units 36,000
Price/SF $1,224.10
Expiration 01-29-2034
Tenant Type Fast Food/QSR
NOI $152,000
R. Term 9.8
Ownership Fee Simple
Rent/SF $64.27
Increases 10.0%/6/yrs
Pop 5Mi 110,432
Lot/AC 1.42
Options 6/5yrs/10%
AHHI 5Mi $107,101

Lease Highlights

  • New 2023 construction
  • Starbucks recently executed a brand-new 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located near the signalized, hard corner intersection of George W Liles Pkwy and Poplar Tent Rd, a major retail thoroughfare, with access to 21,000 vehicles passing by daily. The property enjoys convenient nearby access to points of ingress/egress to Interstate-85, which sees 111,000 VPD. In close proximity, less than a mile away, is Afton Ridge, a Target-anchored...

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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 : 7,041 35,925 118,746
2023 Total Population : 6,597 33,586 110,432
2023 Employed Civilian Pop : 3,249 17,193 56,331
2023 Total Businesses : 307 1,014 4,225
2023 Average Household Income : $ 119,923 $ 115,781 $ 107,101
2023 Total Consumer Spending : $ 304 M $ 1334 M $ 3858 M
2023 Median Age : 40 40 37
2023 Total Households : 2,991 13,513 41,825
2023 Pop Age 25+: Bachelor's Degree : 1,403 6,771 19,043
2023 Average Home Value : $ 395,437 $ 358,359 $ 334,451
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Crisco Rd N Village Dr NW 2018 34,000 0.02 mi
Poplar Tent Rd 2022 34,728 0.12 mi
Poplar Tent Road McCurdy St NW 2022 12,977 0.24 mi
Poplar Tent Rd 2022 28,711 0.25 mi
George W Liles Pkwy Poplar Tent Rd 2016 21,000 0.26 mi
Langford Ave NW 2022 37,340 0.29 mi
Crisco Rd N I- 85 2016 30,000 0.33 mi
Crisco Rd N 2022 9,441 0.35 mi
Colorado Dr NW 2022 7,288 0.38 mi
Poplar Tent Rd Cobblestone Ln NW 2018 20,000 0.42 mi

Listing Broker

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