About This Restaurant
Investment Highlights
New corporate net lease to Starbucks Corporation with rare self-maintain lease language with tenant responsible for all ongoing maintenance directly New building featuring dedicated drive-thru, providing additional customer convenience and boosting sales revenue Beneficial proximity to two additional entrance gates to Fort Cavazos - one located along Rifles Lane and another along North 10th Street Investment grade tenant, rated ?BBB+? by Standard & Poor?s This Starbucks is located at the signalized intersection of West Rancier Avenue and North 2nd Street with access to more than 22,530 vehicles Fort Cavazos serves a population of about 53,000 active-duty military, civilians, and family members
Executive Summary
Easily-Accessible Location: Located at the signalized intersection of West Rancier Avenue and North 2nd Street (combined 22,530 AADT) with multiple access points into the propertyIdeal Nearby Customer Base: Located minutes from multiple entrance gates to Fort Cavazos, the largest active duty armored post in the U.S. Army spanning 214,968 acres (335 square miles) and serving a population of nearly 65,000Near High-Traffic Institutions: This site is less than 6 miles from AdventHealth Central Texas (a high-performing medical facility with 245 beds and more than 80,000 employees) and Central Texas College (10,173 students)Located in a Military ?Boom Town?: Killeen has experienced significant growth due to the establishment and expansion of Fort Cavazos, which has fueled economic development in Killeen and created numerous opportunities for businesses and entrepreneurs to thriveGrowing Demographics: Within a 15-mile radius of the site, the large and growing population of 305,3963 is supported by an average annual household income of $79,530(projected to increase by at least 12% over the next 5 years)Central Location: This Starbucks in Killeen is located 125 miles southwest of Dallas (2023 population of 1,259,404) and 125 miles northeast of San Antonio (2023 population of 1,479,493)
Property Details
- Sale Type Investment NNN
- Sale Conditions 1031 Exchange 1031 Exchange Build to Suit 1031 Exchange
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
- Building Size 1,650
- Building Class B
- LoopNet Rating 4 Star
- Year Built 2023
- Price 2,284,000
- Price Per SF 1,384
- Cap Rate 6
- NOI 137,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.05
- Land Acres 0.70 AC
Property Taxes
Parcel Number | 55611 | Improvements Assessment | $157,318 |
Land Assessment | $348,924 | Total Assessment | $506,242 |
Date Created: | 2024-07-16 04:23:42 | Last Updated: | 2024-07-16 04:23:42 |
Address: | 103 W Rancier Ave , Killeen, Texas, 76541 |