Starbucks 101 Peebles St

Investment Highlights

Rare 15-Year Lease Attractive Rent Increases Strategic Retail Location New Construction, Double Drive-Thru Investment Grade Credit High Traffic Counts

Executive Summary

Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Starbucks investment property located at 101 Peebles Street in South Hill, Virginia (the ?Property?). Starbucks is operating under a rare, 15-year lease that runs through February 2038, and is followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. Starbucks is situated on a pad site to a Walmart Supercenter at the intersection of Peebles Street and East Atlantic Street (US Route 58). The location benefits from excellent visibility and prominent signage and is next to the exit for Interstate 85. The Property was recently constructed in 2021, and features Starbucks? best-in-class double drive-thru and an outdoor patio space. The trade area, centered around the junction of Interstate 85 and US Route 58, is anchored by the Walmart Supercenter, Home Depot, and Food Lion, and serves as the primary commercial corridor for South Hill and Mecklenburg County.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Fast Food Freestanding
• Building Size    2,500
• Building Class    B
• Year Built    2022
• Price    2,378,278
• Price Per SF    951
• Cap Rate    5.75
• NOI    136,751
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.06
• Land Acres    0.92 AC
• Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.