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Views: 389 DOM: 191 Updated: 11.07.24 Posted: 05.14.24 Status: Contract 09.16.24

Summary

Price $2,683,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,160
Lease Start 12-04-2023
#Units 38,038
Price/SF $1,296.30
Expiration 02-28-2034
Tenant Type Fast Food/QSR
NOI $161,000
R. Term 9.3
Ownership Fee Simple
Rent/SF $74.54
Increases 10.0%/5/yrs
Pop 5Mi 55,980
Lot/AC 0.78
Options 4/5yrs/10%
AHHI 5Mi $117,756

Lease Highlights

  • Brand new 2023 construction
  • Starbucks has 9+ 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
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on TX-191 / Andrews Highway, with access to 36,550 vehicles passing by daily. The property is adjacent to Chevron’s Mid-Continent Headquarters, which employs 600 people, and in immediate proximity to corporate offices for other energy/oil companies. Additionally, it is down the road from H-E-B, Sam’s Club, and numerous hotels. Furthermore, it is situated 5...

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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
2029 Total Population : 6,749 60,773 106,305
2024 Total Population : 6,284 58,820 102,792
2024 Employed Civilian Pop : 3,762 36,777 64,207
2024 Total Businesses : 207 1,639 4,406
2024 Average Household Income : $ 168,384 $ 127,575 $ 133,783
2024 Total Consumer Spending : $ 313 M $ 2439 M $ 4542 M
2024 Median Age : 35 35 35
2024 Total Households : 2,180 21,844 38,923
2024 Pop Age 25+: Bachelor's Degree : 1,695 9,292 17,593
2024 Average Home Value : $ 441,562 $ 336,324 $ 372,616
*ESRI data is presented for informational purposes only

Listing Broker

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