Starbucks

117 North Point Drive, Mount Orab, OH 45154

$3,248,991

Cap Rate 5.75%

Views: 56 DOM: 49 Updated: 10.18.24 Posted: 10.03.24 Status: Active

Summary

Price $3,248,991	Built/Renov 2024	Tenant Starbucks
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,500	Lease Start 09-25-2024	#Units 38,038
Price/SF $1,299.60	Expiration 02-29-2040	Tenant Type Fast Food/QSR
NOI $186,817	R. Term 15.3	Ownership Fee Simple
Rent/SF $74.73	Increases 10.0%/5/yrs	Pop 5Mi 11,338
Lot/AC 0.82	Options 4/5yrs/10%	AHHI 5Mi $93,448

Lease Highlights

Brand new 2024 construction
New 15-year lease with 4 (5-year) options to extend
The lease features 10% rent increases every 5 years throughout the primary term and at the start of each renewal option
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on North Point Drive/US Route 68, the primary retail corridor, with access to 15,700 vehicles passing by daily. The property is conveniently situated adjacent to the on-ramp for the Appalachian Highway (OH Route 32), the main commuter route leading into Cincinnati. The immediate area is home to major establishments such as Chrysler, Dodge, Jeep & Ram,...

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Key Features

New construction
Major thoroughfare
Strategically located
Highway location
Brand new lease
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Mount Orab, Ohio Zip Code 45154 Broker Site Page Drone Video

Maps

Local Information

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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Listing Broker

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