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Views: 58 DOM: 85 Updated: 10.25.24 Posted: 09.09.24 Status: Active

Summary

Price $2,323,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.35%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,221
Lease Start 09-03-2024
#Units 38,038
Price/SF $1,045.93
Expiration 09-30-2034
Tenant Type Fast Food/QSR
NOI $147,500
R. Term 9.10
Ownership Fee Simple
Rent/SF $66.41
Increases 10.0%/5/yrs
Pop 5Mi 14,057
Lot/AC 0.78
Options 6/5yrs/8%
AHHI 5Mi $70,666

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 6 (5-year) options to extend
  • 10% rental increases every 5 years in the primary term and 8% in renewal options
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on S Wood Drive, with access to 28,288 vehicles passing by daily. The property is part of The 2000 Center, a regional strip center situated on Highway 62 and anchored by a Walmart Supercenter. The immediate area features other well-known national tenants such as Subway, Taco Bell, Domino's, Dollar Tree, Murphy USA, and more. Key educational institutions in...

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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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Listing Broker

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