Starbucks

4614 Penn Avenue, Sinking Spring, PA 19608

$2,870,000

Cap Rate 5.75%

Views: 89 DOM: 93 Updated: 11.17.24 Posted: 09.20.24 Status: Active

Summary

Price $2,870,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 5.75%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,400	Lease Start 12-01-2024	#Units 38,038
Price/SF $1,195.83	Expiration 02-28-2035	Tenant Type Fast Food/QSR
NOI $165,000	R. Term 10.2	Ownership Fee Simple
Rent/SF $68.75	Increases 10.0%/10/yrs	Pop 5Mi 94,098
Lot/AC 1.72	Options 4/5yrs/10%	AHHI 5Mi $115,724

Andrew Fallon

SRS National Net Lease Group

Contact

Lease Highlights

Brand new 2024 construction
New 10-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Limitied landlord responsibilities for roof, structure, and CAM administration
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Penn Avenue and Green Valley Road, a major thoroughfare with access to a combined daily traffic count of 30,700 vehicles. The property is surrounded by prominent national tenants such as Popeyes, Sheetz, Dollar Tree, Wendy’s, and Tractor Supply Co., and benefits from excellent visibility with significant street...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Near major nationals
Affluent AHHI $100K 5 Mi
Brand new lease
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Sinking Spring, Pennsylvania Zip Code 19608 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...

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Listing Broker

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