Starbucks

1478 South Carolina 544, Conway, SC 29526

$2,850,000

Cap Rate 6.00%

Views: 144 DOM: 248 Updated: 12.17.24 Posted: 04.13.24 Status: Sold 12.17.24

Summary

Price $2,850,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,223	Lease Start 06-17-2024	#Units 38,038
Price/SF $1,282.05	Expiration 06-30-2039	Tenant Type Fast Food/QSR
NOI $171,000	R. Term 14.6	Ownership Fee Simple
Rent/SF $76.92	Increases 10.0%/5/yrs	Pop 5Mi 57,376
Lot/AC 0.84	Options 4/5yrs/10%	AHHI 5Mi $74,651

Edward Benton

Secure Net Lease

Contact

Lease Highlights

Brand new 2024 construction
Starbucks recently signed a new 20-year lease with 4 (5-year) option periods | No kick-out clause
The lease features 10% rental increases every 5 years throughout primary term + options
Favorable NN+ lease | Landlord responsible for roof, structure, parking lot | New roof warranty included
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Corporal Highway 544 and State Road, with access to a combined daily traffic count of 39,061 vehicles. Conveniently situated just 1 mile down the road from Conway Medical Center, a top economic driver and one of the largest employers in Horry County for nearly a century, it also sits less than 1.5 miles from...

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Key Features

New construction
Dense retail corridor
Near major nationals
Major MSA
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Conway, South Carolina Zip Code 29526 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 :	6,574	27,988	63,492
2023 Total Population :	6,414	26,122	59,222
2023 Employed Civilian Pop :	2,459	11,118	25,085
2023 Total Businesses :	123	768	1,995
2023 Average Household Income :	$ 69,600	$ 73,765	$ 79,459
2023 Total Consumer Spending :	$ 117 M	$ 587 M	$ 1546 M
2023 Median Age :	25	33	37
2023 Total Households :	1,926	9,127	22,366
2023 Pop Age 25+: Bachelor's Degree :	542	2,897	6,757
2023 Average Home Value :	$ 252,420	$ 270,782	$ 273,162

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	University Blvd	2022	35,700	0.84 mi
Singleton Ridge Rd	Myrtle TrceDr	2010	8,900	1.13 mi
Singleton Ridge Road	Myrtle TrceDr	2022	11,900	1.23 mi
University Blvd	Chanticleer Dr E	2019	4,200	1.36 mi
SC 544 (HWY 544) TO US 501 (E HWY 501)	Chanticleer Dr E	2021	5,000	1.37 mi
State Hwy 544	Kings Rd	2010	25,900	1.84 mi
Cox Ferry Road	Private Dr	2022	4,000	2.00 mi
SC 544 Overpass	Cox Ferry Rd	2022	19,000	2.01 mi
SC 544 Overpass	Hwy 501	2019	17,700	2.02 mi
	University Forest Cir	2022	6,200	2.17 mi

Listing Broker

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