Starbucks

1723 Homer M Adams Parkway, Alton, IL 62002

$2,218,000

Cap Rate 5.75%

Views: 26 DOM: 65 Updated: 04.28.24 Posted: 03.14.24 Status: Active

Summary

Price $2,218,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,220	Lease Start 01-23-2024	#Units 36,000
Price/SF $999.10	Expiration 02-28-2039	Tenant Type Fast Food/QSR
NOI $127,500	R. Term 14.9	Ownership Fee Simple
Rent/SF $57.43	Increases 7.5%/6/yrs	Pop 5Mi 55,082
Lot/AC 0.85	Options 3/5yrs/7.5%	AHHI 5Mi $72,567

Lease Highlights

New 2023 construction
Starbucks recently executed a brand new 15-year lease with 3 (5-year) options to extend
The lease features 7.5% rental escalations throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Jiles Road, with access to 22,500 vehicles passing by daily. The property is adjacent to a top-performing Lowe’s in Illinois, ranking in the top 15% per Placer.ai. Furthermore, it is within walking distance from the Alton Square Mall, a shopping center anchored by JCPenney and Ross Dress for Less, as well as four inns and hotels, including a newly...

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Key Features

New construction
Roof guarantee
Dense retail corridor
Shopping Ctr out-parcel
Top 100 MSA
Brand new lease
Long 10+ yr lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Alton, Illinois Zip Code 62002 Broker Site Page

Maps

Local Information

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 :	3,214	33,599	51,513
2023 Total Population :	3,269	34,119	52,247
2023 Employed Civilian Pop :	1,409	15,803	24,047
2023 Total Businesses :	263	1,373	1,819
2023 Average Household Income :	$ 55,782	$ 75,359	$ 78,350
2023 Total Consumer Spending :	$ 73 M	$ 1006 M	$ 1567 M
2023 Median Age :	39	41	42
2023 Total Households :	1,496	15,263	22,884
2023 Pop Age 25+: Bachelor's Degree :	270	3,700	5,495
2023 Average Home Value :	$ 122,856	$ 154,661	$ 160,241

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Buckmaster Ln	Homer M Adams Pkwy	2011	6,500	0.05 mi
Homer M Adams Pkwy	Golf Rd	2011	25,400	0.10 mi
Oakwood Ave	Buckmaster Ln	2011	4,350	0.12 mi
Oakwood Ave	Valentine Ln	2011	4,350	0.18 mi
Homer M Adams Pkwy	Buckmaster Ln	2011	19,500	0.18 mi
Oakwood Ave	Toledo Ave	2011	5,000	0.22 mi
Golf Rd	Homer M Adams Pkwy	2011	1,600	0.23 mi
Golf Rd	Homer M Adams Pkwy	2011	2,550	0.26 mi
Tulane St	Tonsor Pl	2011	1,700	0.32 mi
Oakwood Ave	Lovejoy Ln	2011	3,750	0.39 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

117 Listings
5391 Views
50 Sold

Jeff Lefko

Hanley Investment Group

Contact

115 Listings
5241 Views
54 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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