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Views: 216 DOM: 121 Updated: 08.31.24 Posted: 07.23.24 Status: Active

Summary

Price $299,867
Built/Renov 2022
Tenant Biggby Coffee (GL)
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 356
Lease Start 07-01-2022
#Units 370
Price/SF $842.32
Expiration 06-30-2034
Tenant Type Fast Food/QSR
NOI $17,992
R. Term 9.7
Ownership Ground Lease
Rent/SF $50.54
Increases 9.0%/3/yrs
Pop 5Mi 27,269
Lot/AC 0.50
Options 3/5yrs/9%
AHHI 5Mi $70,120

Lease Highlights

  • New 2022 construction
  • 9+ years remaining on the current ground lease term with 3 (5-year) options to extend
  • The lease features 9% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee & Personal guarantee

Location Description

Biggby Coffee is strategically located on East State Street, with access to 12,065 vehicles passing by daily. The property holds a prime location as it's the sole drive-through coffee spot on the eastern side of the river. Additionally, the site is situated less than 2 miles from both Crown Battery’s Manufacturing Facility and Kraft Heinz Manufacturing and Distribution Facility. Furthermore,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Biggby Coffee
  • Guarantor:Franchisee
  • Company:Biggby Coffee
  • # Units:370
  • Stock:Private

About Tenant

Biggby Coffee (pronounced "Big B") is an American coffeehouse franchise. Biggby offers customers signature coffees, teas and herbal teas, made-to-order beverages, assorted food, smoothies, and...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 8,414 23,278 27,069
2024 Total Population : 8,480 23,452 27,234
2024 Employed Civilian Pop : 3,831 10,776 12,608
2024 Total Businesses : 411 1,070 1,160
2024 Average Household Income : $ 63,950 $ 70,873 $ 73,417
2024 Total Consumer Spending : $ 212 M $ 648 M $ 777 M
2024 Median Age : 39 42 43
2024 Total Households : 3,720 10,236 11,876
2024 Pop Age 25+: Bachelor's Degree : 615 2,188 2,564
2024 Average Home Value : $ 174,375 $ 173,975 $ 178,268
*ESRI data is presented for informational purposes only

Listing Broker

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