About This Restaurant
Investment Highlights
Brand New 10-Year Deal | New Construction | Drive-Thru Equipped | Investment Grade Tenant Hard Corner Intersection | Dense Retail Corridor NN | Fee Simple Ownership | Limited Landlord Responsibilities Strong Demographics in 5-Mile Trade Area
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, brand new construction, corporate guaranteed (NYSE: SBUX), investment grade (S&P: BBB+), Starbucks investment property located in Abbeville, Louisiana. The tenant, Starbucks Corporation, recently signed a brand new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, exterior structure, foundation, and parking lot. The newly-constructed building will feature a state-of-the-art design with high-quality materials.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Freestanding Freestanding General Retail Fast Food General Retail Restaurant Freestanding
- Building Size 2,016
- Year Built 2024
- Price 2,137,000
- Price Per SF 1,060
- Cap Rate 6
- NOI 128,208
- Tenancy Single
- Building Height 1 Story
Amenities
- Corner Lot
- Restaurant
- Signage
- Drive Thru
| Date Created: | 2024-07-16 04:16:15 | Last Updated: | 2024-07-16 04:16:15 |
| Address: | Veterans Memorial Drive & Odea Street , Abbeville, Louisiana, 70510 | ||