Starbucks

204 Highway 321, Hickory, NC 28601

$2,685,000

Cap Rate 5.40%

Views: 152 DOM: 231 Updated: 10.16.24 Posted: 03.14.24 Status: Active

Summary

Price $2,685,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.40%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,200	Lease Start 11-30-2023	#Units 38,038
Price/SF $1,220.45	Expiration 02-29-2036	Tenant Type Fast Food/QSR
NOI $145,000	R. Term 11.4	Ownership Fee Simple
Rent/SF $65.91	Increases 5.0%/10/yrs	Pop 5Mi 67,840
Lot/AC 0.78	Options 6/5yrs/5%	AHHI 5Mi $82,530

Lease Highlights

Brand new 2023 construction | Features high-quality materials, high-level finishes, and distrinct Starbucks design elements
Starbucks has 11+ years remaining on its current lease term with 6 (5-year) options to extend
The lease features 5% rental increases at the start of each option period
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at a signalized, hard corner intersection, with access to a combined daily traffic count of 52,300 vehicles. The property offers excellent visibility and access, and it is adjacent to new development. The immediate trade area is surrounded by well-known national tenants, including McDonald’s, Dunkin’, Subway, Walmart Neighborhood Center, Pizza Hut, Wendy’s,...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Near major nationals
Highway location
Major MSA
Brand new lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Hickory, North Carolina Zip Code 28601 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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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
2nd Avenue Northwest	15th St NW	2019	7,500	0.02 mi
2nd Avenue Northwest	15th St NW	2022	6,082	0.04 mi
	2nd Ave NW	2022	39,217	0.09 mi
	2nd Ave NW	2019	38,000	0.11 mi
2nd Avenue Northwest	16th St NW	2022	8,085	0.11 mi
	2nd Ave NW	2019	37,000	0.13 mi
US 321	2nd Ave NW	2022	37,920	0.16 mi
17th Street Northwest	2nd Ave NW	2022	1,571	0.16 mi
2nd Avenue Northwest	18th St NW	2019	8,100	0.26 mi
	18th St NW	2022	7,491	0.29 mi

Listing Broker

Andrew Fallon

SRS National Net Lease Group

Contact

83 Listings
9781 Views
21 Sold

Patrick Nutt

SRS National Net Lease Group

Contact

260 Listings
25457 Views
90 Sold

Andrew Fallon

Andrew Fallon joined SRS in 2020 as executive managing director for the NNLG, and market leader for the newest office in Washington D.C. His expertise encompasses many areas including net lease brokerage, commercial land brokerage, real estate underwriting, and litigation project management. Prior to joining SRS, Andrew was executive managing director with Calkain Companies where he also served as a member on the Executive Committee. As an annual top producer, he closed nearly $1 billion in net

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Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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