Starbucks

1742 Wildcat Blvd, Burlington, KY 41005

$3,178,000

Cap Rate 6.25%

Views: 112 DOM: 241 Updated: 07.01.24 Posted: 03.25.24 Status: Active

Summary

Price $3,178,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 6.25%	Lease Type Double NN	Guarantor Corp T and Rated
Size/SF 1,311	Lease Start 04-01-2024	#Units 36,000
Price/SF $2,424.10	Expiration 03-31-2034	Tenant Type Fast Food/QSR
NOI $198,643	R. Term 9.4	Ownership Fee Simple
Rent/SF $151.52	Increases 7.5%/5/yrs	Pop 5Mi 101,870
Lot/AC 0.73	Options 4/5yrs/7.5%	AHHI 5Mi $98,649

Lease Highlights

Brand-new 2024 construction
Starbucks will be executing a brand-new 10-year lease with 4 (5-year) options to extend
The lease features 7.5% rental escalations throughout the initial term and option periods
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Kentucky Route 18/Burlington Pike, with access to a combined daily traffic count of 33,297 vehicles. The property is less than a mile from the Industrial Park Employee Entrance of CVG Airport, which houses Amazon Air's Mega Hub and DHL Express's Global Super Hub. Additionally, it sits within an dense retail...

...

Key Features

Roof guarantee
Dense retail corridor
Near major nationals
Strategically located
Top 100 MSA
Strong demographics
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia Burlington, Kentucky Zip Code 41005 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:36,000
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,500	41,839	105,169
2023 Total Population :	6,440	40,234	101,870
2023 Employed Civilian Pop :	3,689	20,486	51,842
2023 Total Businesses :	237	1,415	4,166
2023 Average Household Income :	$ 90,521	$ 107,024	$ 98,649
2023 Total Consumer Spending :	$ 246 M	$ 1355 M	$ 3327 M
2023 Median Age :	38	38	38
2023 Total Households :	3,136	14,780	39,186
2023 Pop Age 25+: Bachelor's Degree :	969	5,869	14,380
2023 Average Home Value :	$ 219,140	$ 225,595	$ 221,288

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Burlington Pike	Burgundy Hill Dr	2010	24,591	0.09 mi
Limaburg Rd	Production Dr	2012	10,879	0.13 mi
Burlington Pike	Limaburg Rd	2002	43,652	0.18 mi
KY 18	McGrath Ln	2022	33,297	0.26 mi
Burlington Pike	McGrath Ln	2002	38,682	0.34 mi
Cedar Hill Ln	Linden Ct	2004	762	0.44 mi
Burlington Pike	Florence Pike	2013	27,279	0.54 mi
Burlington Pike	Kenner Dr	2014	33,971	0.59 mi
Briargate Dr	Clearbrook Dr	2004	1,108	0.62 mi
Aero Parkway		2014	12,854	0.62 mi

Listing Broker

Will Lightfoot

SHOP Companies

Contact

7 Listings
1047 Views
0 Sold

Matt Maguire

SHOP Companies

Contact

7 Listings
1047 Views
0 Sold

Will Lightfoot

Will Lightfoot is a partner at SHOP Oklahoma City, focusing on the sale of single tenant net lease retail properties throughout the United States. Will assists developers, corporate users, REITs, institutions, and 1031 exchange buyers in the disposition, acquisition, and sale-leaseback structuring of net lease properties. Will’s career transaction volume exceeds $1.2 Billion. Prior to joining SHOP Companies in 2021, Will spent 10 years at CBRE where he was a Senior Vice President and con

...

Matt Maguire

Matt joined SHOP Companies in 2021 focusing on the sale of single tenant net lease retail properties throughout the United States. Matt assists developers, corporate users, REITs, institutions, and 1031 exchange buyers in the disposition, acquisition, and sale-leaseback structuring of net lease properties. During Matt’s career in single tenant net lease assets, he has worked directly in closing more than 100+ transactions with a combined value of more than $650MM. Born and raised in Oklaho

...

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