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Views: 125 DOM: 203 Updated: 10.30.24 Posted: 06.01.24 Status: Active

Summary

Price $2,635,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,020
Lease Start 08-27-2024
#Units 38,038
Price/SF $1,304.46
Expiration 08-31-2034
Tenant Type Fast Food/QSR
NOI $145,000
R. Term 9.8
Ownership Fee Simple
Rent/SF $71.78
Increases 10.0%/5/yrs
Pop 5Mi 210,860
Lot/AC 0.95
Options 4/5yrs/10%
AHHI 5Mi $62,914

Lease Highlights

  • Brand-new 2024 construction
  • Starbucks recently executed a brand new 10-year lease 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 at the signalized intersection of North Zaragoza Road and Loop Drive, with access to a combined daily traffic count of 45,000 vehicles. The property is situated just minutes from the Ysleta-Zaragoza Border Crossing, which sees over 5 million annual crossings. Additionally, it is conveniently located 10 miles from the El Paso International Airport. 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 : 15,851 76,757 205,710
2024 Total Population : 15,849 76,207 203,894
2024 Employed Civilian Pop : 7,076 33,291 90,438
2024 Total Businesses : 339 2,566 5,828
2024 Average Household Income : $ 58,015 $ 67,911 $ 73,681
2024 Total Consumer Spending : $ 310 M $ 1669 M $ 4832 M
2024 Median Age : 40 39 37
2024 Total Households : 5,812 26,933 72,495
2024 Pop Age 25+: Bachelor's Degree : 942 7,425 23,217
2024 Average Home Value : $ 222,973 $ 214,973 $ 224,461
*ESRI data is presented for informational purposes only

Listing Broker

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