Starbucks

424 U.S. Highway 70 West, Havelock, NC 28532

$2,130,000

Cap Rate 5.75%

Views: 135 Updated: 01.17.24 Posted: 10.03.23 Status: Inactive

Summary

Price $2,130,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.75%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,480	Lease Start 08-04-2023	#Units 36,000
Price/SF $858.87	Expiration 08-31-2033	Tenant Type Fast Food/QSR
NOI $122,500	R. Term 8.8	Ownership Fee Simple
Rent/SF $49.40	Increases 10.0%/5/yrs	Pop 5Mi 43,370
Lot/AC 1.44	Options 6/5yrs/10%	AHHI 5Mi $73,379

Lease Highlights

Brand-new 2023 construction
Starbucks recently signed a brand-new 10-year lease with 6 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)

Location Description

This newly constructed 2,480 square foot Starbucks is strategically located along US Hwy 70 West with access to 26,000 vehicles per day. The site benefits from its location as an outparcel to a Planet Fitness anchored shopping center with neighboring tenants including T-Mobile, Mucho Bueno, Clean Wheels Carwash and more. National/credit tenants in the area include McDonalds, Dollar General,...

...

Key Features

New construction
New prototype
Major thoroughfare
Near major nationals
Highway location
Brand new lease
Long 10+ yr lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia Havelock, North Carolina Zip Code 28532 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:36,000
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...

...

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 70	Catawba Rd	2020	24,500	0.13 mi
Catawba Rd	Hwy 70	2018	26,500	0.13 mi
US Hwy 70	Greenfield Heights Blvd	2004	24,000	0.19 mi
Stratford Rd	Devonshire Dr	2001	1,500	0.28 mi
Greenfield Heights Blvd	Sunset Ave	2004	3,800	0.29 mi
Catawba Road	State Rd 1765	2019	5,800	0.29 mi
Ketner Blvd	State Rd 1765	2001	1,800	0.56 mi
W Main St	State Rd 1765	2019	31,000	1.24 mi
W Main St	State Rd 1765	2018	29,000	1.24 mi
US Hwy 70	W Main St	2004	28,000	1.28 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
18468 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
18027 Views
65 Sold

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

...

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

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT