Starbucks

1723 Homer M Adams Parkway, Alton, IL 62002

$2,217,000

Cap Rate 5.75%

Views: 117 Updated: 01.03.24 Posted: 10.18.23 Status: Inactive

Summary

Price $2,217,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,225	Lease Start 09-01-2023	#Units 36,000
Price/SF $996.40	Expiration 08-31-2038	Tenant Type Fast Food/QSR
NOI $127,500	R. Term 13.9	Ownership Fee Simple
Rent/SF $57.30	Increases 7.5%/6/yrs	Pop 5Mi 52,247
Lot/AC 0.85	Options 3/5yrs/15.56%	AHHI 5Mi $78,350

Lease Highlights

Brand-new, state-of-the-art construction with Starbucks latest prototype
15-year transferrable roof warranty in place
Tenant recently signed a new 15-year lease with 3 (5-year) options to extend
The lease features a 7.5% rent increase in year 6; 15.56% in 1st option; 7.5% in options 2 & 3
Favorable NN+ lease with landlord responsibilities limited to roof & structure
Corporate guaranteed lease (NASDAQ: SBUX) | (S&P: BBB+)

Location Description

Starbucks is conveniently located on Homer M Adams Pkwy, which has a daily traffic count of 22,500 vehicles. The property is in close proximity to Alton Square shopping mall, which features popular stores like JCPenney and Ross. Additionally, there are several hotels nearby, including a newly developed Holiday Inn, Super 8, Hampton Inn & Suites, and Best Western. The area is also home to major...

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Key Features

New construction
Dense retail corridor
Strong tenant synergy
Top 100 MSA
Brand new lease
Long 10+ yr lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Alton, Illinois Zip Code 62002 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 :	3,214	33,599	51,513
2023 Total Population :	3,269	34,119	52,247
2023 Employed Civilian Pop :	1,409	15,803	24,047
2023 Total Businesses :	263	1,373	1,819
2023 Average Household Income :	$ 55,782	$ 75,359	$ 78,350
2023 Total Consumer Spending :	$ 73 M	$ 1006 M	$ 1567 M
2023 Median Age :	39	41	42
2023 Total Households :	1,496	15,263	22,884
2023 Pop Age 25+: Bachelor's Degree :	270	3,700	5,495
2023 Average Home Value :	$ 122,856	$ 154,661	$ 160,241

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Buckmaster Ln	Homer M Adams Pkwy	2011	6,500	0.05 mi
Homer M Adams Pkwy	Golf Rd	2011	25,400	0.10 mi
Oakwood Ave	Buckmaster Ln	2011	4,350	0.12 mi
Oakwood Ave	Valentine Ln	2011	4,350	0.18 mi
Homer M Adams Pkwy	Buckmaster Ln	2011	19,500	0.18 mi
Oakwood Ave	Toledo Ave	2011	5,000	0.22 mi
Golf Rd	Homer M Adams Pkwy	2011	1,600	0.23 mi
Golf Rd	Homer M Adams Pkwy	2011	2,550	0.26 mi
Tulane St	Tonsor Pl	2011	1,700	0.32 mi
Oakwood Ave	Lovejoy Ln	2011	3,750	0.39 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
28464 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
29523 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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