About This Restaurant
Investment Highlights
Over 9 Years Remaining | Corporate Signed (S&P: BBB+) | Scheduled Rental Increases Outparcel to Planet Fitness Anchor | Drive-Thru Equipped |South of Walmart Supercenter | Primary Retail Corridor NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities Strong Demographics in 10-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 NNN leased, drive-thru equipped, corporate signed, freestanding Starbucks investment property located in Havelock, North Carolina. The tenant, Starbucks Corporation (NASDAQ: SBUX | S&P: BBB+) has over 9 years remaining on their current lease term with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features a flat base term, with 10% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant Fast Food
- Building Size 2,480
- Year Built 2023
- Price 2,042,000
- Price Per SF 823
- Cap Rate 6
- NOI 122,500
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.07
- Land Acres 0.80 AC
Amenities
- Restaurant
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 6-216-007 | Improvements Assessment | $907,490 |
| Land Assessment | $2,208,400 | Total Assessment | $3,115,890 |
| Date Created: | 2024-07-16 04:16:23 | Last Updated: | 2024-07-16 04:16:23 |
| Address: | 424 US Highway 70 W , Havelock, North Carolina, 28532 | ||