About This Restaurant
Investment Highlights
Executive Summary
? Brand-new (2024), state-of-the-art construction Starbucks ? Corporately guaranteed lease which is backed by BBB+, investment-grade credit (S&P)? New, 10-year & 3-month initial term with 10% rental increases throughout the initial term and options, providing an excellent hedgeagainst inflation | No kick-out clause in the lease? New, 20-year roof warranty to be transferred to Buyer at close of escrow? Directly off an on-ramp & off-ramp for I-64 which boasts 76,000 VPD? Adjacent to a new construction Arby?s? Direct access and visibility from Pocahontas Trail which sees over 14,000 VPD? Just off the signalized intersection of New Kent Hwy & Pocahontas Trl | Combined ?33,600 VPD? Located within an ideal commuter retail corridor with tenants such as Food Lion, McDonald?s, Walgreens, Bojangles, Taco Bell, Arby?s,Waffle House, Dunkin?, Dollar General, VCU Health Emergency, among others? About a 10-minute drive from Richmond International Airport? Starbucks is ranked #125 on Fortune 500 list (2023), #1 World?s Most Admired Company in the Food Services Industry ? Fortune Magazine (2023), and #1 Most Valuable Restaurant Brand in the World ? Brand Finance (2023)? Starbucks is the world?s largest coffee chain with 38,000+ locationsin 76 countries | $35.97B in revenue in 2023, an 9.3% increase from 2022
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 Fast Food
- Building Size 2,500
- Year Built 2024
- Price 3,128,000
- Price Per SF 1,251
- Cap Rate 5.40
- NOI 168,900
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.04
- Land Acres 1.38 AC
| Date Created: | 2024-07-16 04:23:47 | Last Updated: | 2024-07-16 04:23:47 |
| Address: | 2151 Pocahontas Trl , Quinton, Virginia, 23141 | ||