Starbucks

6780 Pearl Road, Middleburg Heights, OH 44130

$2,783,000

Cap Rate 5.75%

Views: 199 DOM: 243 Updated: 09.19.24 Posted: 04.22.24 Status: Active

Summary

Price $2,783,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 5.75%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,350	Lease Start 04-01-2024	#Units 38,038
Price/SF $1,184.26	Expiration 03-31-2034	Tenant Type Fast Food/QSR
NOI $160,000	R. Term 9.3	Ownership Fee Simple
Rent/SF $68.09	Increases 7.5%/5/yrs	Pop 5Mi 229,318
Lot/AC 1.01	Options 4/5yrs/7.5%	AHHI 5Mi $80,095

Lease Highlights

Brand-new 2024 state-of-the-art construction | 20-year roof warranty to be transferred to buyer at closing
Brand-new 10-year lease with 4 (5-year) options to extend
The lease features 7.5% rental escalations throughout the initial term and option periods
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard-corner intersection of Pearl Road and 130th Street, with access to a substantial combined daily traffic count of 60,830 vehicles. The property is situated in the Pearl Crossing development, across from Southland Shopping Center with anchor tenants BJ’s and Giant Eagle, and adjacent to Pearl Plaza, Additionally, the site is just over a...

...

Key Features

New construction
Signalized intersection
Dense retail corridor
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia Middleburg Heights, Ohio Zip Code 44130 Broker Site Page

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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,077	81,561	224,260
2023 Total Population :	10,343	83,125	228,947
2023 Employed Civilian Pop :	5,290	43,625	121,378
2023 Total Businesses :	458	2,935	6,955
2023 Average Household Income :	$ 80,474	$ 81,832	$ 79,955
2023 Total Consumer Spending :	$ 300 M	$ 2628 M	$ 7003 M
2023 Median Age :	49	47	44
2023 Total Households :	4,315	37,046	100,781
2023 Pop Age 25+: Bachelor's Degree :	1,553	11,580	31,339
2023 Average Home Value :	$ 190,688	$ 189,078	$ 191,548

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Pearl Rd	W 130th St	2000	21,090	0.05 mi
W 130th St	Pearl Rd	2013	16,349	0.07 mi
Pearl Rd	W 130th St	2004	21,700	0.12 mi
W 130th St	Pearl Rd	2013	12,254	0.15 mi
W 130th St	Big Creek Pkwy	2003	14,500	0.16 mi
Big Creek Pkwy	Scenic PkOval	2000	7,433	0.17 mi
Pearl Rd	Southland Dr	2008	39,315	0.20 mi
Big Creek Pkwy	W 130th St	2012	5,737	0.24 mi
W 130th St	Big Creek Pkwy	2004	12,300	0.25 mi
BIG CREEK PKWY	Lawnwood Ave	2020	4,880	0.32 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31403 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30261 Views
21 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

...

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT