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Views: 83 DOM: 113 Updated: 10.30.24 Posted: 09.04.24 Status: Active

Summary

Price $3,450,000
Built/Renov 2016
Tenant Starbucks
Cap Rate 3.34%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,565
Lease Start 04-09-2016
#Units 38,038
Price/SF $1,345.03
Expiration 04-30-2031
Tenant Type Fast Food/QSR
NOI $115,182
R. Term 6.4
Ownership Fee Simple
Rent/SF $44.91
Increases 10.0%/6/yrs
Pop 5Mi 204,838
Lot/AC 0.97
Options 3/5yrs/10%
AHHI 5Mi $87,976

Lease Highlights

  • Starbucks has 6+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations 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 at the signalized, hard-corner intersection of Franklin Boulevard and Villard Street, with access to a combined daily traffic count of 30,000 vehicles. The property is surrounded by student housing, including multiple dormitories and apartments, all within walking distance. It is directly across from the University of Oregon campus, which has 25,000 students,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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