About This Restaurant
Investment Highlights
New Construction, 10-Year NNN Lease Investment grade tenant ? the corporate lease is backed by Starbucks Corporation, a globally recognized tenant with over 38,000 locations and a BBB+/B Densely Populated and Affluent Trade Area - over 13,050 residents within a 1-mile radius and average household income over $112,800 10% rent increases every 5 years provide a hedge against inflation Excellent Access and Visibility ? located at the signalized intersection of Joe Battle Blvd and Pellicano Dr with a traffic count excess of 46,000 VPD Starbucks is situated in a new ~30-acre mixed-use development, Monteverde, on the rapidly growing East side of El Paso
Executive Summary
? Brand-New Construction? 10-Year NNN Ground Lease? 10% Rent Increases Every 5 Years? Investment Grade Tenant? Excellent Access / Visibility? Densely Populated and Affluent Trade Area? Situated in Monteverde, a new 30-Acre Mixed-Use Development
Property Details
- Sale Type Investment NNN
- Sale Condition Ground Lease (Leased Fee)
- Property Type Retail
- Property Subtype Retail Retail General Retail Fast Food General Retail Restaurant Retail
- Building Size 2,020
- Year Built 2024
- Price 2,995,000
- Price Per SF 1,483
- Cap Rate 5
- NOI 149,750
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.05
- Land Acres 1.03 AC
Property Taxes
| Parcel Number | M700-000-01U2-0500 | Improvements Assessment | $66,500 |
| Land Assessment | $0 | Total Assessment | $66,500 |
| Date Created: | 2024-07-16 04:23:44 | Last Updated: | 2024-07-16 04:23:44 |
| Address: | 12349 Pellicano Dr , El Paso, Texas, 79928 | ||