Starbucks 994 US-51

Investment Highlights

New 10-year corporate net lease to Starbucks Corporation (NASDAQ: ?SBUX?) 8% rental increases every five (5) years in initial term and option periods Starbucks is the world?s premier coffee company, with over 38,038 locations and $35.9 billion in annual revenue Investment-grade tenant, rated ?BBB+? by Standard & Poor?s No termination option, allowing the tenant to maintain ideal flexibility over the course of the lease Per Statista, customers go to Starbucks six times per week on average

Executive Summary

This Starbucks is a high-visibility and easily accessible location just off U.S. Hwy 51, with access to 24,600 vehicles per day directly in front of the site. With its strategic placement and access to prominent attractions, this Starbucks is surrounded by national brand retail tenants including Lowe?s, Kohl?s Ross Dress for Less, Ulta, Hobby Lobby, T.J. Maxx, Buffalo Wild Wings, Texas Roadhouse, Applebee?s, Taco Bell, Best Buy, PetSmart, Dollar Tree and many others.The site is across the street from the Hickory Point Mall, a 826,347 square foot mall anchored by Kohl?s, Von Maur, TJ Maxx, Hobby Lobby, Ulta Beauty and Ross Dress for Less, positioning the site to capture significant crossover buyer activity. The surrounding area is home to many community hubs that will drive traffic to Starbucks such as Hickory Point Golf Course, Forsyth Park, Millikin University (1,800 students), Stephen Decatur Middle School (779 Students) and many others.The property serves as a Gateway to Downtown Decatur, the largest city in and the county seat of Macon County. An excellent average annual household income of $135,470 within one mile of the site provides an extremely affluent immediate customer base.

• Sale Type    Investment NNN
• Sale Condition    1031 Exchange
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Restaurant General Retail Storefront Fast Food
• Building Size    2,225
• Building Class    B
• Year Built    2024
• Price    1,966,000
• Price Per SF    884
• Cap Rate    6
• NOI    117,925
• Tenancy    Single
• Building Height    1 Story