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Views: 289 DOM: 216 Updated: 11.21.24 Posted: 09.12.24 Status: Active

Summary

Price $2,867,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 11-01-2024
#Units 38,038
Price/SF $1,146.80
Expiration 10-31-2034
Tenant Type Fast Food/QSR
NOI $172,000
R. Term 9.6
Ownership Fee Simple
Rent/SF $68.80
Increases 10.0%/5/yrs
Pop 5Mi 20,967
Lot/AC 1.27
Options 6/5yrs/10%
AHHI 5Mi $88,145

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 6 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Richlands Highway, a major corridor with access to 26,000 vehicles passing by daily. The surrounding area features prominent national tenants such as Food Lion, Walmart Supercenter, Tractor Supply Co., Dunkin’, Piggly Wiggly, and McDonald’s. Additionally, the site is close to numerous single-family communities and multi-family complexes. The 5-mile trade...

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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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Kyle Fant

SRS National Net Lease Group

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  • 97 Listings
  • 17590 Views
  • 41 Sold
Britt Raymond

SRS National Net Lease Group

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  • 107 Listings
  • 18595 Views
  • 49 Sold

Kyle joined SRS in 2017 along with his partner Britt Raymond to spearhead the New York City office for the National Net Lease Group and accelerate growth across the east coast. Kyle has over eight years of experience in investment sales of net lease retail, medical, and industrial properties across the country. Kyle spent the first three years of his career in Marcus & Millichap’s flagship Manhattan office where he was able to work and learn from some of the firm’s top transactional brokera

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Britt Raymond is a Managing Director and Market Leader of New York Capital Market. Britt spearheads efforts to grow SRS’s presence across the northeast. She also advises owners of net lease assets and anchored shopping centers nationwide to buy, acquire, or finance. She also provides 1031 Tax Deferred Exchange advisory. She has closed over $2.75 billion in commercial real estate transactions in her career. Britt Raymond joined SRS in 2017 with eight years of commercial real estate experience. S

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