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Views: 147 DOM: 87 Updated: 10.30.24 Posted: 09.25.24 Status: Active

Summary

Price $1,917,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,153
Lease Start 03-29-2024
#Units 38,038
Price/SF $1,662.62
Expiration 03-31-2034
Tenant Type Fast Food/QSR
NOI $115,000
R. Term 9.3
Ownership Fee Simple
Rent/SF $99.74
Increases 10.0%/5/yrs
Pop 5Mi 335,977
Lot/AC 0.33
Options 4/5yrs/10%
AHHI 5Mi $96,300

Lease Highlights

  • New 2023 construction
  • Starbucks has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Lakeland Avenue, surrounded by top-performing tenants and adjacent to Robin Center, which ranks in the top 22% of strip centers in Minnesota, according to Placer.ai. The area is anchored by several high-performing national brands, including Dollar Tree (top 6% in MN), AutoZone (top 25% in MN), Sherwin Williams (top 25% nationwide), Walgreens (top 17% in...

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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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