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Views: 134 DOM: 163 Updated: 10.30.24 Posted: 07.10.24 Status: Active

Summary

Price $3,790,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,365
Lease Start 10-01-2024
#Units 38,038
Price/SF $1,602.54
Expiration 02-28-2035
Tenant Type Fast Food/QSR
NOI $180,000
R. Term 10.2
Ownership Fee Simple
Rent/SF $76.11
Increases 10.0%/5/yrs
Pop 5Mi 327,143
Lot/AC 1.62
Options 4/5yrs/10%
AHHI 5Mi $96,700

Lease Highlights

  • Brand-new 2024 construction
  • New 10-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations 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, hard-corner intersection of Russell Road and Rocky Hill Road, with access to a combined daily traffic count of 25,000 vehicles. The property is positioned on the "going to work side" of Russell Road, with immediate access to the 215 Freeway (Bruce Woodbury Beltway). This freeway connection links affluent Summerlin and Southwest Las Vegas to...

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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 : 26,518 149,815 364,473
2024 Total Population : 23,691 140,676 348,946
2024 Employed Civilian Pop : 14,042 78,911 188,779
2024 Total Businesses : 1,347 6,003 12,537
2024 Average Household Income : $ 110,273 $ 111,188 $ 112,582
2024 Total Consumer Spending : $ 931 M $ 5493 M $ 13527 M
2024 Median Age : 36 39 39
2024 Total Households : 9,605 56,447 137,400
2024 Pop Age 25+: Bachelor's Degree : 3,970 25,225 58,568
2024 Average Home Value : $ 517,267 $ 538,460 $ 566,856
*ESRI data is presented for informational purposes only

Listing Broker

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