Starbucks

1580 U.S. 72, Corinth, MS 38834

$2,656,000

Cap Rate 6.00%

Views: 68 DOM: 93 Updated: 08.06.24 Posted: 06.07.24 Status: Active

Summary

Price $2,656,000	Built/Renov 2022	Tenant Starbucks
Cap Rate 6.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,500	Lease Start 10-01-2022	#Units 38,038
Price/SF $1,062.40	Expiration 09-30-2037	Tenant Type Fast Food/QSR
NOI $159,376	R. Term 13.0	Ownership Fee Simple
Rent/SF $63.75	Increases 10.0%/3/yrs	Pop 5Mi 20,103
Lot/AC 1.42	Options 6/5yrs/8%	AHHI 5Mi $66,752

Lease Highlights

New 2022 construction
Starbucks has 13+ years remaining on the current lease term with 6 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and 8% at the start of each option period
Corporate guarantee | Investment grade tenant

Location Description

The Starbucks is strategically located on U.S. Hwy 72, the major retail thoroughfare, with access to a combined daily traffic count of 24,000 vehicles. The property is ideally situated in a dense retail corridor surrounded by well-known tenants, including Walmart Supercenter, Aldi, Walgreens, Kroger, Dollar Tree, O’Reilly Auto Parts, and more. The 5-mile trade area is supported by a population...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strategically located
Highway location
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Corinth, Mississippi Zip Code 38834 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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Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

343 Listings
29615 Views
131 Sold

Patrick Luther

SRS National Net Lease Group

Contact

393 Listings
32724 Views
160 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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