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Views: 60 Updated: 05.21.24 Posted: 11.11.23 Status: Sold

Summary

Price $875,000 $900,000
Built/Renov 2023
Tenant Scooter's Coffee
Cap Rate 6.17% 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 664
Lease Start 07-01-2023
#Units 14
Price/SF $1,317.77 $1,355.42
Expiration 06-30-2038
Tenant Type Fast Food/QSR
NOI $54,000
R. Term 13.6
Ownership Fee Simple
Rent/SF $81.33
Increases 2.0%/6/yrs
Pop 5Mi 6,808
Lot/AC 0.35
Options 4/5yrs/2%
AHHI 5Mi $70,184

Lease Highlights

  • Brand-new 2023 construction
  • Scooter’s Coffee has recently signed a brand-new 15-year lease with 4 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and each option
  • Absolute NNN | Zero landlord responsibilities
  • Personal guarantee by High Porch Coffee, LLC | Plans to develop 40+ new locations

Location Description

Scooter's Coffee is extremely well located at the signalized intersection of E Maple Street and N 18th Street, the area’s two primary commercial and commuter corridors, with a combined 18,400 vehicles daily. Located in the heart of Centerville, Scooter’s is 0.4-miles from The Appanoose County Courthouse (the Town Green) and is part of the downtown business district, with numerous businesses,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Scooter's Coffee
  • Guarantor:Franchisee
  • Company:High Porch Coffee, LLC
  • # Units:14
  • Stock:Private

About Tenant

Scooter’s Coffee is a drive-thru specialty coffeehouse chain that was founded in 1998 by Don and Linda Eckles in Bellevue, Nebraska. With a simple formula in mind: high-quality drinks, speed of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,390 5,894 6,709
2023 Total Population : 4,449 5,983 6,812
2023 Employed Civilian Pop : 1,504 2,069 2,466
2023 Total Businesses : 314 427 451
2023 Average Household Income : $ 60,390 $ 61,704 $ 63,662
2023 Total Consumer Spending : $ 108 M $ 144 M $ 170 M
2023 Median Age : 45 45 45
2023 Total Households : 2,013 2,629 2,985
2023 Pop Age 25+: Bachelor's Degree : 507 660 759
2023 Average Home Value : $ 128,051 $ 135,721 $ 143,143
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Maple Street S 18th St 2022 9,100 0.03 mi
N 18th St E Jackson St 2006 10,500 0.04 mi
E Maple St N 21st St 2006 3,500 0.07 mi
East State Street N 18th St 2022 9,100 0.11 mi
IA 2 S 22nd St 2020 2,048 0.23 mi
E Washington St N 18th St 2006 1,150 0.24 mi
E Maple St Drake Ave 2006 7,600 0.28 mi
E State St S 22nd St 2006 370 0.30 mi
South 18th Street E Prairie St 2022 9,000 0.30 mi
S 13th St 2022 6,100 0.31 mi

Listing Broker

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