Starbucks

517 West 3rd Street, Pembroke, NC 28372

$2,867,000

Cap Rate 6.00%

Views: 72 DOM: 125 Updated: 08.31.24 Posted: 07.19.24 Status: Active

Summary

Price $2,867,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.00%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,600	Lease Start 09-01-2024	#Units 38,038
Price/SF $1,102.69	Expiration 09-30-2034	Tenant Type Fast Food/QSR
NOI $172,000	R. Term 9.10	Ownership Fee Simple
Rent/SF $66.15	Increases 10.0%/5/yrs	Pop 5Mi 19,652
Lot/AC 0.86	Options 6/5yrs/10%	AHHI 5Mi $59,529

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand-new 2024 construction
New 10-year lease with 6 (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 W 3rd Street, with access to 15,500 vehicles passing by daily. The property is surrounded by well-known national tenants including Jersey Mike's, Circle K, McDonald's, and Burger King. Additionally, it is less than a half-mile to UNC Pembroke, which enrolls 7,500 students and employs 420 faculty members. The 5-mile trade area supports a population of...

...

Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Major MSA
Brand new lease
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia Pembroke, North Carolina Zip Code 28372 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	4,467	10,958	19,290
2024 Total Population :	4,617	11,227	19,652
2024 Employed Civilian Pop :	1,303	3,797	6,845
2024 Total Businesses :	262	366	527
2024 Average Household Income :	$ 47,344	$ 57,967	$ 59,529
2024 Total Consumer Spending :	$ 51 M	$ 198 M	$ 372 M
2024 Median Age :	24	29	33
2024 Total Households :	1,204	3,760	6,859
2024 Pop Age 25+: Bachelor's Degree :	376	1,093	1,822
2024 Average Home Value :	$ 194,118	$ 161,159	$ 149,580

*ESRI data is presented for informational purposes only

Listing Broker

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