Starbucks

11 East DeRenne Avenue, Savannah, GA 31405

$2,895,000

Cap Rate 5.70%

$3,000,000

Cap Rate 5.50%

DOM: 164 Updated: 10.10.24 Posted: 06.15.24 Status: Sold 11.26.24

Summary

Price $2,895,000 $3,000,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.70% 5.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1	Lease Start 09-09-2023	#Units 38,038
Price/SF $3,366,279.07 $3,488,372.09	Expiration 02-28-2034	Tenant Type Fast Food/QSR
NOI $165,000	R. Term 8.10	Ownership Fee Simple
Rent/SF $191,860.47	Increases 12.5%/5/yrs	Pop 5Mi 148,259
Lot/AC 1.00	Options 4/5yrs/12.5%	AHHI 5Mi $77,391

Lease Highlights

New 2023 construction
Starbucks has 9+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 12.5% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on East Derenne Avenue, with access to a high daily traffic count of 50,200 vehicles. The property is just steps away from the Twelve Oaks Shopping Center, which features well-known national tenants such as Publix, Cold Stone Creamery, Bonefish Grill, and Five Guys. Additionally, Abercorn Walk Shopping Center, anchored by The Fresh Market, is within walking...

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Key Features

New construction
Build to suit
High traffic 50M+ VPD
Near major nationals
Strong demographics
Major MSA
Brand new lease
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Starbucks https://starbucks.com/ Wikipedia Savannah, Georgia Zip Code 31405 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:38,038
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	9,440	76,683	147,879
2024 Total Population :	9,606	77,972	148,460
2024 Employed Civilian Pop :	4,056	37,043	68,515
2024 Total Businesses :	876	4,638	8,254
2024 Average Household Income :	$ 81,747	$ 74,904	$ 79,675
2024 Total Consumer Spending :	$ 294 M	$ 2189 M	$ 4288 M
2024 Median Age :	37	36	35
2024 Total Households :	4,081	32,910	60,516
2024 Pop Age 25+: Bachelor's Degree :	1,411	10,187	19,569
2024 Average Home Value :	$ 358,852	$ 348,668	$ 370,643

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E de Renne Ave	Abercorn St	2012	42,830	0.02 mi
East de Renne Avenue	E de Renne Ave	2019	43,300	0.07 mi
East de Renne Avenue	E de Renne Ave	2018	43,000	0.07 mi
W de Renne Ave	White Bluff Rd	2012	66,460	0.16 mi
Abercorn St	E 67th St	2005	17,180	0.21 mi
West de Renne Avenue	W de Renne Ave	2018	57,100	0.23 mi
West de Renne Avenue	W de Renne Ave	2019	52,900	0.23 mi
Montgomery St	Godsells St	2012	12,540	0.31 mi
Hampstead Avenue	Roger Wood St	2019	5,690	0.32 mi
Montgomery Street	Berkley Pl	2019	13,700	0.35 mi

Listing Broker

Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
25796 Views
78 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
24934 Views
76 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
25616 Views
79 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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