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Views: 2 DOM: 2 Updated: 11.19.24 Posted: 11.19.24 Status: Active

Summary

Price $2,666,700
Built/Renov 2024
Tenant Starbucks
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,294
Lease Start 09-30-2024
#Units 38,038
Price/SF $1,162.47
Expiration 09-30-2034
Tenant Type Fast Food/QSR
NOI $160,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $69.75
Increases 7.5%/5/yrs
Pop 5Mi 83,764
Lot/AC 1.30
Options 4/5yrs/7.5%
AHHI 5Mi $121,738

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease commenced in September with 4 (5-year) options to extend
  • The lease features 7.5% rental increases in year 6 (2029) and in each of the options
  • NN lease | Minimal landlord responsibilities
  • Corporate guarantee (NASDAQ: SBUX)
  • Investment grade tenant (S&P: BBB+)

Location Description

Starbucks is strategically located along Southview Drive (E Hwy 50), which sees 14,400 vehicles per day, near its signalized intersection with South Lincoln Avenue (7,600 VPD). Interstate 64, with 58,600 VPD, is just 2 miles southwest, providing connectivity to St. Louis, MO, and Louisville, KY. This is the only Starbucks location north of Interstate 64 in O’Fallon, centrally positioned within...

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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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