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Views: 97 Updated: 11.07.23 Posted: 04.28.23 Status: Inactive

Summary

Price $2,450,000
Built/Renov 2022
Tenant Starbucks
Cap Rate 5.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 01-01-2023
#Units 36,000
Price/SF $980.00
Expiration 01-01-2033
Tenant Type Fast Food/QSR
NOI $122,500
R. Term 8.1
Ownership Fee Simple
Rent/SF $49.00
Increases 10.0%/4/yrs
Pop 5Mi 13,279
Lot/AC 0.62
Options 6/5yrs/10%
AHHI 5Mi $71,736

Lease Highlights

  • New 2022 construction
  • Starbucks recently signed a brand new 10 year lease with 6 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at each option period
  • Double NN lease with landlord responsible for roof, structure and parking lot
  • Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)

Location Description

This newly constructed Starbucks is strategically located at the hard corner intersection of Hugh Adams Road and Business Park Road. The site is situated just off of US Route 331, a north/south highway, with access to 22,500 vehicles per day. This 2,500 square foot building is situated on a .62 acre lot and sits as an outparcel to Lowe’s Home Improvement. Situated within a dense retail...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • # 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 : 443 7,416 14,598
2023 Total Population : 398 6,839 13,360
2023 Employed Civilian Pop : 195 2,965 5,462
2023 Total Businesses : 95 470 592
2023 Average Household Income : $ 77,444 $ 70,646 $ 67,230
2023 Total Consumer Spending : $ 11 M $ 165 M $ 302 M
2023 Median Age : 50 41 40
2023 Total Households : 165 2,639 5,072
2023 Pop Age 25+: Bachelor's Degree : 57 745 1,158
2023 Average Home Value : $ 219,190 $ 241,373 $ 237,920
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Highway 331 South Hugh Adams Rd 2021 25,500 0.13 mi
GORE AT US-331 NB I- 10 2021 2,900 0.27 mi
GORE AT I-10 WB I- 10 2021 5,100 0.31 mi
Freeport Rd United States Hwy 331 2005 19,700 0.31 mi
GORE AT I-10 EB Hwy 331 S 2021 2,900 0.35 mi
GORE AT US-331 SB Hwy 331 2021 5,000 0.37 mi
Coy Burgess Loop Freeport Rd 2005 750 0.50 mi
Bob Sikes Rd Woodridge Way 2005 4,400 0.68 mi
County Highway 280A Lakeside Dr 2005 1,100 0.81 mi
Bruce Ave S 13th St 2005 2,300 1.08 mi

Listing Broker

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