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Views: 198 DOM: 518 Updated: 10.10.24 Posted: 07.22.23 Status: Active

Summary

Price $3,478,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 10-01-2023
#Units 38,038
Price/SF $1,391.20
Expiration 10-01-2033
Tenant Type Fast Food/QSR
NOI $173,900
R. Term 8.9
Ownership Fee Simple
Rent/SF $69.56
Increases 10.0%/5/yrs
Pop 5Mi 158,568
Lot/AC 1.06
Options 6/5yrs/10%
AHHI 5Mi $110,004

Lease Highlights

  • Brand new 2023 construction
  • Brand-new 10-year lease with 6 (5-year) options to renew
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
  • Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

This newly constructed Starbucks is strategically located on US Hwy 301 and Balm Road with access to 29,400 vehicles per day. The site is part of the upcoming Sumner Crossing shopping center, which will be home to CVS, Lockhart Storage, Woodie’s Wash Shack and more. Sumner Crossing is adjacent to Sumner High School (3,500+ students), which drives significant traffic to the immediate area....

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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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