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Views: 160 Updated: 08.23.24 Posted: 06.07.24 Status: Inactive 10.01.24

Summary

Price $2,800,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 08-01-2024
#Units 38,038
Price/SF $1,120.00
Expiration 07-31-2034
Tenant Type Fast Food/QSR
NOI $168,000
R. Term 9.8
Ownership Fee Simple
Rent/SF $67.20
Increases 10.0%/5/yrs
Pop 5Mi 21,219
Lot/AC 1.00
Options 6/5yrs/10%
AHHI 5Mi $97,819

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for structure and parking
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of Lodge Lane and Interparcel Travelway. Situated as an outparcel to Factory Antique Mall, a shopping center anchored by Sundown Liquidations, the property is also adjacent to Augusta Plaza, a shopping center anchored by Food Lion. The site is further enhanced by Starbucks being one of only two coffee shops within a 5-mile...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,151 6,716 21,777
2024 Total Population : 2,135 6,586 21,512
2024 Employed Civilian Pop : 820 3,260 10,899
2024 Total Businesses : 170 292 833
2024 Average Household Income : $ 70,422 $ 85,139 $ 97,561
2024 Total Consumer Spending : $ 34 M $ 181 M $ 732 M
2024 Median Age : 39 42 44
2024 Total Households : 541 2,412 8,578
2024 Pop Age 25+: Bachelor's Degree : 237 839 3,125
2024 Average Home Value : $ 320,865 $ 359,230 $ 417,126
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Laurel Hill Road I- 81 2021 14,000 0.13 mi
Laurel Hill Rd Lodge Ln 2016 15,000 0.13 mi
Laurel Hill Road Lodge Ln 2018 14,000 0.13 mi
Laurel Hill Road Lodge Ln 2021 14,000 0.14 mi
Laurel Hill Road Lodge Ln 2020 12,000 0.14 mi
Laurel Hill Rd Lodge Ln 2016 15,000 0.15 mi
Maple Dr 2021 2,000 0.17 mi
R-VA IS00081SB RMP227.00A Maple Dr 2020 1,700 0.17 mi
Laurel Hill Rd Lodge Ln 2016 12,000 0.18 mi
Laurel Hill Road Lodge Ln 2018 12,000 0.18 mi

Listing Broker

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