Starbucks

8834 Culebra Road, San Antonio, TX 78251

$2,173,000

Cap Rate 5.50%

Views: 89 DOM: 227 Updated: 07.19.24 Posted: 01.24.24 Status: Active

Summary

Price $2,173,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.50%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,950	Lease Start 09-01-2023	#Units 36,000
Price/SF $1,114.36	Expiration 08-31-2033	Tenant Type Fast Food/QSR
NOI $119,500	R. Term 8.12	Ownership Fee Simple
Rent/SF $61.28	Increases 10.0%/5/yrs	Pop 5Mi 356,262
Lot/AC 1.03	Options 4/5yrs/8%	AHHI 5Mi $91,366

Lease Highlights

Brand new 2023 construction
Starbucks recently executed a brand new 10-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and 8% at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located along Culebra Road with access to 32,198 vehicles per day. The site benefits from its location along a prominent retail corridor with neighboring national/credit tenants including Advance Auto Parts, Walgreens, Dollar Tree, 7-Eleven, Dollar General and many others. Additionally, the site is within close proximity to Northwest Vista College and Christ’s Santa...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Income tax free state
Brand new lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee

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Links

Starbucks Wikipedia Starbucks Wikipedia San Antonio, Texas Zip Code 78251 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 :	13,688	116,447	353,671
2023 Total Population :	14,202	116,005	352,076
2023 Employed Civilian Pop :	7,129	60,145	174,692
2023 Total Businesses :	258	2,867	6,931
2023 Average Household Income :	$ 89,398	$ 88,625	$ 90,444
2023 Total Consumer Spending :	$ 394 M	$ 3378 M	$ 10199 M
2023 Median Age :	36	34	34
2023 Total Households :	5,117	43,863	129,710
2023 Pop Age 25+: Bachelor's Degree :	2,174	16,646	49,529
2023 Average Home Value :	$ 247,478	$ 233,264	$ 239,714

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Culebra Road	Griffin PkDr	2020	30,474	0.02 mi
Ansley Bend Dr	Camfield	2007	573	0.11 mi
Timber Path	Grissom Rd	2012	6,903	0.20 mi
Ensenada	Laguna Rio	2010	1,880	0.27 mi
Timber Path	Old Grissom Rd	2010	4,864	0.28 mi
Grissom Road	Timber Path	2020	19,314	0.31 mi
Grissom Road	Timberhill Dr	2021	19,700	0.31 mi
Grissom Rd	Timber Path	2008	22,000	0.32 mi
Westover Hill	Culebra Rd	2010	21,380	0.33 mi
Village Pkwy	Wood Run	2008	1,537	0.35 mi

Listing Broker

Putnam Daily

Fisher James Capital

Contact

81 Listings
6699 Views
23 Sold

Lindsey Snider

Fisher James Capital

Contact

61 Listings
5251 Views
18 Sold

Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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Lindsey Snider

Lindsey Lantis Snider is a Partner at Fisher James Capital, advising institutional and private capital clients on the disposition and acquisition of leased investment properties nationwide. Lindsey has over 15 years of experience specializing in the sale of single tenant retail properties, multi-tenant shopping centers, sale-leaseback portfolio dispositions, and 1031 exchange transactions. Lindsey attended Santa Clara University and holds a Bachelor of Science from the business school with a m

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