Starbucks 10 Canal st

Investment Highlights

Long Term Lease Attractive Rent Increases Strong Demographics New Construction Strategic Retail Location Adjacent to Sagamore Bridge

Executive Summary

Horvath & Tremblay is pleased to present the exclusive sale of a new construction, corporate leased Starbucks investment property located at 10 Canal Street in Bourne, Massachusetts (the ?Property?). Starbucks is currently under construction with an anticipated rent commencement date of February 28, 2024. Starbucks executed a 10-year lease with three (3), 5-year renewal options. The lease features attractive rent increases every five years throughout the primary lease term and at the start of each renewal option. The new construction Starbucks is well-located along Canal Street and is visible from US Route 6, which runs directly behind the Property. Located seconds from the intersection of Canal Street, Meetinghouse Lane, State Route 3A and US Route 6, the area, and specifically the junction of US Route 6 and State Route 3A, has been dubbed the ?Gateway to Cape Cod? as residents and visitors heading to Cape Cod must traverse the junction to access either the Sagamore Bridge or the Bourne Bridge, the only two connections to Cape Cod. The Property is also a short walk from the Sagamore Recreation Area and the Canal Greenway, a popular paved pedestrian walking and biking trail that runs along the banks of the Cape Cod Canal from Cape Cod Bay to Buzzards Bay.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Fast Food General Retail Storefront Freestanding
• Building Size    2,250
• Year Built    2023
• Price    2,327,272
• Price Per SF    1,034
• Cap Rate    5.50
• NOI    128,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.05
• Land Acres    1.10 AC