Starbucks

2000 16th Street, Greeley, CO 80631

$2,322,000

Cap Rate 6.00%

Views: 157 DOM: 378 Updated: 07.16.24 Posted: 11.21.23 Status: Contract

Summary

Price $2,322,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,074	Lease Start 06-30-2023	#Units 36,000
Price/SF $1,119.58	Expiration 06-30-2033	Tenant Type Fast Food/QSR
NOI $139,295	R. Term 8.7	Ownership Fee Simple
Rent/SF $67.16	Increases 9.0%/5/yrs	Pop 5Mi 141,174
Lot/AC 0.95	Options 4/5yrs/2.7%	AHHI 5Mi $85,989

Bob Moorhead

Secure Net Lease

Contact

Lease Highlights

Brand new 2023 construction
Starbucks has 9+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 9% rental increase every 5 years throughout the initial term with a 2.7% increase at the start of option 1 and 10% at the start of the remaining options
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease | Investment grade tenant

Location Description

Starbucks is strategically located on16th Street, with access to 26,995 vehicles passing by daily. The property holds a prime location across from Banner Health North Colorado Medical Center, the largest hospital in Northern Colorado. Within less than 1 mile, the University of Northern Colorado, a nationally recognized public, doctoral research, and educational institution, serves...

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Key Features

New construction
Dense retail corridor
Near major nationals
Hospital close
Top 100 MSA
Strong demographics
Brand new lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Greeley, Colorado Zip Code 80631 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 :	18,566	104,971	137,497
2023 Total Population :	18,701	104,521	136,413
2023 Employed Civilian Pop :	8,860	49,063	64,698
2023 Total Businesses :	538	3,188	4,169
2023 Average Household Income :	$ 76,936	$ 79,139	$ 86,997
2023 Total Consumer Spending :	$ 429 M	$ 2525 M	$ 3669 M
2023 Median Age :	29	31	33
2023 Total Households :	6,359	36,493	48,469
2023 Pop Age 25+: Bachelor's Degree :	1,890	9,395	13,584
2023 Average Home Value :	$ 381,970	$ 391,607	$ 417,835

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W 16th St	21st Ave	2010	19,250	0.05 mi
21st Ave	W 16th St	2010	1,458	0.07 mi
W 16th St	22nd Ave	2010	18,653	0.09 mi
16th Street	18th Ave	2019	15,700	0.14 mi
W 16th St	18th Ave	2010	14,932	0.15 mi
17th Ave	W 16th St	2010	1,388	0.18 mi
W 16th St	17th Ave	2010	1,669	0.18 mi
W 16th St	17th Ave	2010	15,732	0.20 mi
16th Street	9th Ave	2021	14,172	0.21 mi
16TH ST	23rd Ave	2019	14,000	0.22 mi

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