Starbucks

320 East Jimmie Leeds Road, Galloway, NJ 08205

$2,571,429

Cap Rate 5.25%

Views: 158 DOM: 295 Updated: 08.24.24 Posted: 11.17.23 Status: Active

Summary

Price $2,571,429	Built/Renov 2001/2023	Tenant Starbucks
Cap Rate 5.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 3,054	Lease Start 10-29-2023	#Units 36,000
Price/SF $841.99	Expiration 02-28-2034	Tenant Type Fast Food/QSR
NOI $135,000	R. Term 9.5	Ownership Fee Simple
Rent/SF $44.20	Increases 10.0%/6/yrs	Pop 5Mi 57,459
Lot/AC 1.32	Options 4/5yrs/10%	AHHI 5Mi $97,256

Lease Highlights

Starbucks recently signed a brand new 10-year lease with 2 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guaranteed lease

Location Description

Starbucks is positioned with significant frontage on E. Jimmie Leeds Road (15,602 VPD), just hundreds of feet from its signalized intersection with S. Pitney Road (14,407 VPD), and 2 miles from its access points to the Garden State Parkway (46,643 VPD). The property is in close proximity to regional employers including AtlantiCare Regional Medical Center (323 beds), Stockton University (9,000+...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
Strategically located
Affluent suburb location
Brand new lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Galloway, New Jersey Zip Code 08205 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 :	2,836	33,496	56,950
2023 Total Population :	2,901	34,190	57,459
2023 Employed Civilian Pop :	1,555	18,837	30,222
2023 Total Businesses :	168	996	1,721
2023 Average Household Income :	$ 112,325	$ 100,550	$ 97,256
2023 Total Consumer Spending :	$ 101 M	$ 1087 M	$ 1771 M
2023 Median Age :	46	41	40
2023 Total Households :	1,061	12,673	21,239
2023 Pop Age 25+: Bachelor's Degree :	579	5,811	8,237
2023 Average Home Value :	$ 298,127	$ 311,683	$ 309,074

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
East Jimmie Leeds Road		2019	13,045	0.03 mi
East Jimmie Leeds Road	6th Ave	2017	15,602	0.17 mi
South Pitney Road	E Jimmie Leeds Rd	2018	14,407	0.18 mi
South Pitney Road	Anthony Ln	2017	14,542	0.39 mi
East Jimmie Leeds Road	S Camelback Dr	2018	15,457	0.39 mi
South Pitney Road	Greenwich Dr	2020	17,170	0.41 mi
6th Avenue	Tess Conover Way	2018	3,119	0.49 mi
S Pitney Rd	Dennis Dr	2005	11,453	0.49 mi
East Great Creek Road	S Pitney Rd	2018	4,579	0.55 mi
South Pitney Road	Quail Hill Blvd	2018	8,532	1.04 mi

Listing Broker

Matthew Gorman

CBRE: NLPG Philadelphia

Contact

64 Listings
6198 Views
18 Sold

Michael Shover

CBRE: NLPG Philadelphia

Contact

64 Listings
6198 Views
18 Sold

Matthew Gorman

Matthew Gorman joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Matthew and his team's primary goal is to execute for their clients at the highest level by representing their best interests professionally, honestly and with integrity in all aspects of the marketing and sales process. Shortly after joining CBRE, Matthew was inducted into the exclusive Net Lease Property Group, leading the Philadel

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Michael Shover

Michael Shover joined CBRE as Senior Vice President in 2015 specializing in the sale of Net Lease properties in the Mid-Atlantic Region and throughout the country. Shortly after, Michael was inducted into CBRE’s exclusive Net Lease Property Group, leading and specializing in the Mid-Atlantic area. The Net Lease Property Group comprises of a team of senior advisors located within major metropolitan areas throughout the United States who are dedicated to transacting single-tenant assets and net-l

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