Starbucks

3704 Silver Lake Rd NE, St Anthony, MN 55421

$1,990,000

Cap Rate 5.20%

Views: 178 DOM: 554 Updated: 10.21.24 Posted: 05.17.23 Status: Active

Summary

Price $1,990,000	Built/Renov 2004	Tenant Starbucks
Cap Rate 5.20%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 3,421	Lease Start 10-11-2017	#Units 38,038
Price/SF $581.70	Expiration 02-29-2028	Tenant Type Fast Food/QSR
NOI $103,485	R. Term 3.3	Ownership Fee Simple
Rent/SF $30.25	Increases 10.0%/5/yrs	Pop 5Mi 325,856
Lot/AC 0.49	Options 4/5yrs/10%	AHHI 5Mi $99,447

Lease Highlights

Starbucks has 3+ years remaining on their current lease term with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years in every option period
Favorable NN+ lease with landlord responsibilities limited to roof & structure
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

The subject property is comprised of a 3,421 SF building, with a drive-thru, on a 0.49-acre parcel adjacent to Silver Lake Village Shopping Center. This Starbucks is surrounded by over 3,600 multi-family units within a mile. It is located directly on Silver Lake Road, with excellent ingress/egress (18,600 VPD). Nearby retailers include Cub Foods, AT&T, Chipotle, Culvers, Walgreens, Anytime...

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Key Features

Dense retail corridor
Near major nationals
Strategically located
Strong tenant synergy
Top 100 MSA
Strong demographics
Below Market Rent
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia St. Anthony, Minnesota Zip Code 55421 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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	16,888	102,685	337,458
2023 Total Population :	16,314	100,058	327,147
2023 Employed Civilian Pop :	9,291	55,820	181,669
2023 Total Businesses :	308	4,127	14,504
2023 Average Household Income :	$ 113,990	$ 103,841	$ 102,041
2023 Total Consumer Spending :	$ 694 M	$ 3754 M	$ 11917 M
2023 Median Age :	43	40	35
2023 Total Households :	7,102	41,911	134,778
2023 Pop Age 25+: Bachelor's Degree :	3,728	21,868	63,644
2023 Average Home Value :	$ 374,223	$ 364,894	$ 379,264

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Silver Lake Rd NE	39th Ave NE	2016	18,600	0.10 mi
37th Ave NE	Silver Lake Rd NE	2015	8,900	0.10 mi
39th Avenue Northeast	39th Ave NE	2018	18,100	0.15 mi
Silver Lake Rd	36th Ave NE	2017	10,400	0.18 mi
37th Ave NE	36th Ave NE	2019	8,200	0.21 mi
37th Ave NE	Chandler Dr NE	2017	13,400	0.27 mi
Chandler Dr	Diamond Eight Ter	2019	2,100	0.29 mi
Silver La NE	Silver Lake Ter	2019	2,000	0.33 mi
Stinson Blvd	38th Ave NE	2012	7,800	0.39 mi
Silver Ln	Silver Lake Ct	2015	2,100	0.39 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23594 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
21976 Views
58 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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