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Starbucks

895 US Highway 271 North, Gilmer, TX 75644

$2,056,000

Cap Rate 6.25%

Views: 128 DOM: 239 Updated: 10.15.24 Posted: 04.26.24 Status: Active

Summary

Price $2,056,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 6.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,160
Lease Start 10-02-2023
#Units 38,038
Price/SF $951.85
Expiration 10-01-2033
Tenant Type Fast Food/QSR
NOI $128,500
R. Term 8.9
Ownership Fee Simple
Rent/SF $59.49
Increases 10.0%/6/yrs
Pop 5Mi 9,253
Lot/AC 0.90
Options 4/5yrs/10%
AHHI 5Mi $72,497

Putnam Daily
Fisher James Capital
Contact

Lindsey Snider
Fisher James Capital
Contact

Lease Highlights

  • Brand new 2023 construction
  • Starbucks has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on US-271, with access to 17,589 vehicles passing by daily. The property boasts a prime location near Walmart Supercenter, Dollar Tree, and Brookshire’s grocery store. Notably, it stands as the sole Starbucks within an 18-mile radius. Moreover, the site is conveniently situated less than 1 mile from the venue of The East Texas Yamboree, a historic festival...

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Key Features

  • New construction

  • Build to suit

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Highway location

  • Income tax free state

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Starbucks Wikipedia Starbucks Wikipedia Gilmer, Texas Zip Code 75644 Broker Site Page

Documents

Download OM

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,889 6,293 9,415
2023 Total Population : 2,894 6,249 9,253
2023 Employed Civilian Pop : 1,031 2,290 3,448
2023 Total Businesses : 304 409 443
2023 Average Household Income : $ 65,289 $ 66,138 $ 72,497
2023 Total Consumer Spending : $ 64 M $ 143 M $ 233 M
2023 Median Age : 42 41 42
2023 Total Households : 1,119 2,436 3,623
2023 Pop Age 25+: Bachelor's Degree : 388 710 1,045
2023 Average Home Value : $ 160,976 $ 166,647 $ 183,582
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Wood Street Thomas St 2022 17,589 0.14 mi
State Hwy 155 N Green St 2002 5,900 0.38 mi
State Highway 155 Evergreen PkDr 2022 5,752 0.43 mi
North Wood Street Hwy 155 N 2022 17,096 0.48 mi
State Hwy 155 N N Cypress St 2002 5,600 0.49 mi
State Highway 155 N Roberts St 2022 6,233 0.52 mi
North Wood Street E Cass St 2022 22,575 0.75 mi
N Wood St E Jefferson St 2002 18,700 0.81 mi
East Marshall Street S Roberts St 2022 6,610 0.86 mi
East Marshall Street S Chandler St 2022 9,161 0.87 mi

Listing Broker

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