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Views: 156 DOM: 171 Updated: 11.12.24 Posted: 06.03.24 Status: Active

Summary

Price $2,792,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.10%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,540
Lease Start 05-27-2024
#Units 38,038
Price/SF $1,099.21
Expiration 05-31-2034
Tenant Type Fast Food/QSR
NOI $170,312
R. Term 9.6
Ownership Fee Simple
Rent/SF $67.05
Increases 7.5%/5/yrs
Pop 5Mi 16,115
Lot/AC 0.93
Options 4/5yrs/7.5%
AHHI 5Mi $60,371

Lease Highlights

  • Brand new 2024 construction
  • Brand new 10-year lease with 4 (5-year) options to extend
  • The lease features 7.5% rental increases in year 6 and in each option period
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Oliver Lancaster Boulevard, with access to 20,000 vehicles passing by daily. The property features a 75-foot pylon sign that aids in attracting customers from Interstate 30, which sees a traffic count of 44,000 VPD, just a few feet away. Additionally, it is directly adjacent to Popeyes and McClard’s Bar-B-Q, and across Oliver Lancaster Boulevard from...

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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 : 325 7,150 16,138
2024 Total Population : 330 7,224 16,274
2024 Employed Civilian Pop : 114 2,782 6,177
2024 Total Businesses : 108 422 572
2024 Average Household Income : $ 61,237 $ 60,241 $ 65,797
2024 Total Consumer Spending : $ 7 M $ 162 M $ 338 M
2024 Median Age : 44 42 42
2024 Total Households : 137 2,973 5,691
2024 Pop Age 25+: Bachelor's Degree : 11 354 1,071
2024 Average Home Value : $ 196,237 $ 159,654 $ 173,556
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
30 Hwy 270 2021 990 0.13 mi
30 Hwy 270 2021 1,900 0.21 mi
US 270 Martin Luther King Rd 2021 4,600 0.24 mi
30 US Hwy 270 2021 1,200 0.29 mi
30 I- 30 2021 2,500 0.31 mi
Oliver Lancaster Boulevard Gardiner St 2021 20,000 0.36 mi
I- 30 Riverview Dr 2016 54,000 0.37 mi
I 30 Riverview Dr 2021 36,000 0.40 mi
US 270 US Hwy 270 2021 2,300 0.43 mi
US 270 Hwy 270 2021 17,000 0.52 mi

Listing Broker

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