Starbucks

1835 East Belvidere Road, Grayslake, IL 60030

$2,916,666

Cap Rate 6.00%

Views: 54 DOM: 44 Updated: 11.02.24 Posted: 10.08.24 Status: Active

Summary

Price $2,916,666	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,278	Lease Start 10-18-2024	#Units 38,038
Price/SF $1,280.36	Expiration 10-17-2036	Tenant Type Fast Food/QSR
NOI $175,000	R. Term 11.11	Ownership Fee Simple
Rent/SF $76.82	Increases 10.0%/8/yrs	Pop 5Mi 134,928
Lot/AC 1.12	Options 4/5yrs/10%	AHHI 5Mi $153,798

Lease Highlights

New construction & relocation from an inferior space
New 12-year lease commencing in October 2024
10% rental escalations in year 8 and every renewal option
Corporate guaranteed lease (NASDAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

Starbucks is strategically located on Belvidere Road, with access to a robust daily traffic count of 67,000 vehicles. The property is less than a five-minute drive from the College of Lake County, which had an enrollment of 17,600 students in 2023. It is also in close proximity to the Northwestern Medicine Emergency Center, a reputable facility with a Level II trauma designation. The site...

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Key Features

New construction
Relocation store
Near major nationals
Highway close
Top 100 MSA
Strong demographics
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Grayslake, Illinois Zip Code 60030 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

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
16817 Views
62 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
17369 Views
65 Sold

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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