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Views: 112 DOM: 80 Updated: 11.26.24 Posted: 10.02.24 Status: Active

Summary

Price $2,730,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.15%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 10-01-2024
#Units 38,038
Price/SF $1,092.00
Expiration 02-28-2034
Tenant Type Fast Food/QSR
NOI $168,000
R. Term 9.2
Ownership Fee Simple
Rent/SF $67.20
Increases 10.0%/5/yrs
Pop 5Mi 21,512
Lot/AC 1.00
Options 6/5yrs/10%
AHHI 5Mi $97,561

Lease Highlights

  • Brand new 2024 construction

  • New 10-year lease with 6 (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 parking lot & structure
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Lodge Lane, with access to 17,752 vehicles passing by daily. The property is also ideally situated near I-81, which sees 59,000 VPD. With limited competition, this Starbucks is the only one in the immediate trade area, with the next closest location 6 miles away. Additionally, it is adjacent to The Factory Antique Mall, the largest antique mall in the...

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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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