Starbucks

3620 Estes Parkway, Longview, TX 75602

$2,095,000

Cap Rate 5.35%

Views: 106 Updated: 10.20.23 Posted: 07.27.23 Status: Inactive

Summary

Price $2,095,000	Built/Renov 2022	Tenant Starbucks
Cap Rate 5.35%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,400	Lease Start 12-27-2022	#Units 36,000
Price/SF $1,496.43	Expiration 02-28-2033	Tenant Type Fast Food/QSR
NOI $111,993	R. Term 8.3	Ownership Fee Simple
Rent/SF $80.00	Increases 7.5%/5/yrs	Pop 5Mi 35,353
Lot/AC 0.86	Options 3/5yrs/7.5%	AHHI 5Mi $58,795

Lease Highlights

Starbucks recently signed a 10-year lease
The lease features a 10% rent increase in year 6 of the primary term with 3 (5-year) options at 7.5% increases and 1 (5-year) option at 5% increase
Favorable NN+ lease with landlord responsibilities limited to roof & structure
Corporate guaranteed lease by Starbucks Corporation (NASAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

Starbucks is located at the signalized, hard corner intersection of Estes Parkway and Access Road with clear visibility and access to 17,000 vehicles passing daily. It is the only Starbucks drive-thru located with direct access to the I-20 for over 40 miles. The subject property is 2 miles south of LeTourneau University (3,200 students) and 2 miles north of Eastman Chemical (1,480 employees),...

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Key Features

Signalized intersection
Hard corner intersection
Highway location
Top 100 MSA
New development zone
Income tax free state
Favorable NN+ lease
Traded and rated company
Over 2000 units backed
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Longview, Texas Zip code 76107 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 :	1,739	15,569	33,552
2023 Total Population :	1,757	15,637	33,430
2023 Employed Civilian Pop :	658	6,392	13,889
2023 Total Businesses :	123	499	2,118
2023 Average Household Income :	$ 41,368	$ 63,012	$ 66,462
2023 Total Consumer Spending :	$ 27 M	$ 302 M	$ 722 M
2023 Median Age :	33	32	35
2023 Total Households :	731	5,417	12,320
2023 Pop Age 25+: Bachelor's Degree :	32	863	2,575
2023 Average Home Value :	$ 112,332	$ 155,661	$ 184,208

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Estes Parkway	S Access Rd	2021	17,131	0.03 mi
South Access Road	Estes Pkwy	2021	2,252	0.18 mi
TX 121	I- 20	2020	31,298	0.23 mi
South Eastman Road	Estes Pkwy	2020	11,313	0.28 mi
South Eastman Road	S Access Rd	2021	11,841	0.28 mi
S Eastman Rd	Estes Pkwy	2018	9,623	0.29 mi
TX 121	S Mlk Jr Blvd	2020	38,331	0.35 mi
	SE Loop 281	2021	41,366	0.35 mi
	Rollins St	2021	2,017	0.37 mi
S Martin Luther King Jr Blvd	Rollins St	2013	2,942	0.39 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
16087 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
15679 Views
65 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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