Starbucks

2515 West 6th Street, Lawrence, KS 66049

$2,967,000

Cap Rate 6.00%

Views: 250 DOM: 193 Updated: 10.30.24 Posted: 06.11.24 Status: Active 06.11.24

Summary

Price $2,967,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,225	Lease Start 05-25-2024	#Units 38,038
Price/SF $1,333.48	Expiration 07-31-2039	Tenant Type Fast Food/QSR
NOI $178,000	R. Term 14.7	Ownership Fee Simple
Rent/SF $80.00	Increases 7.0%/5/yrs	Pop 5Mi 97,037
Lot/AC 0.90	Options 6/5yrs/7%	AHHI 5Mi $75,896

Lease Highlights

Brand-new 2024 construction
Brand-new 15-year lease with 4 (5-year) options to extend
The lease features 7% rental escalations throughout the initial term and each option period
Favorable NN+ lease with landlord responsible for roof & structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of West 6th St and Crestline Dr., the east-west thoroughfare, with access to 27,325 vehicles passing by daily. Across the street from Lawrence Country Club and neighboring some of Lawrence's most prestigious residences, the property holds a prime location. Additionally, it’s just a 3-minute drive from the University of Kansas,...

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Key Features

New construction
Dense retail corridor
Near major nationals
Freeway close
University college close
Brand new lease
Long 15+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Lawrence, Kansas Zip Code 66049 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 :	14,186	81,078	98,983
2023 Total Population :	14,190	80,468	97,967
2023 Employed Civilian Pop :	8,668	44,980	54,293
2023 Total Businesses :	447	3,319	3,877
2023 Average Household Income :	$ 78,574	$ 82,370	$ 82,847
2023 Total Consumer Spending :	$ 453 M	$ 2451 M	$ 2989 M
2023 Median Age :	29	29	30
2023 Total Households :	6,566	34,096	41,351
2023 Pop Age 25+: Bachelor's Degree :	2,915	14,818	18,032
2023 Average Home Value :	$ 302,144	$ 304,642	$ 296,599

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Moundview Dr	2021	918	0.16 mi
	Moundview Dr	2021	918	0.16 mi
	Schwarz Rd	2021	9,476	0.25 mi
	Schwarz Rd	2021	9,476	0.25 mi
Rockledge Road	Canyon Dr	2021	5,574	0.29 mi
	Iowa St	2021	610	0.32 mi
	Iowa St	2021	610	0.32 mi
Lawrence Avenue	Lawrence Ave	2021	9,801	0.34 mi
West 9th Street	Centennial Dr	2018	6,575	0.34 mi
West 9th Street	Schwarz Rd	2021	8,430	0.34 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17379 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
17815 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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