Starbucks

517 West 3rd Street, Pembroke, NC 28372

$2,797,000

Cap Rate 6.15%

Views: 102 DOM: 156 Updated: 11.25.24 Posted: 07.19.24 Status: Active

Summary

Price $2,797,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.15%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 2,600	Lease Start 09-01-2024	#Units 38,038
Price/SF $1,075.77	Expiration 09-30-2034	Tenant Type Fast Food/QSR
NOI $172,000	R. Term 9.9	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...

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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

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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...

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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

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