Starbucks

3153 Chapman Road, Wytheville, VA 24382

$2,800,000

Cap Rate 6.25%

Views: 142 DOM: 61 Updated: 10.25.24 Posted: 09.21.24 Status: Active

Summary

Price $2,800,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,500	Lease Start 07-05-2024	#Units 38,038
Price/SF $1,120.00	Expiration 07-31-2039	Tenant Type Fast Food/QSR
NOI $175,000	R. Term 14.8	Ownership Fee Simple
Rent/SF $70.00	Increases 10.0%/5/yrs	Pop 5Mi 7,474
Lot/AC 1.48	Options 6/5yrs/10%	AHHI 5Mi $102,669

Lease Highlights

Brand new 2024 construction
New 15-year lease with 6 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the primary term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Chapman Road, with access to a substantial daily traffic count of 73,300 vehicles. The property enjoys excellent visibility from Interstate 77/81, situated adjacent to the Exit 77 on/off ramps, and features a prominent 65-foot pylon sign. Additionally, it is surrounded by multiple gas stations, convenience stores, and truck stops at the I-81/Chapman Road...

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Key Features

New construction
Near major nationals
Strategically located
Freeway visibility
Affluent AHHI $100K 5 Mi
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 Wytheville,Virginia Zip Code 24382 Broker Site Page

Maps

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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Listing Broker

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