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Views: 171 DOM: 252 Updated: 11.17.24 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 11.3
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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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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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

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