About This Restaurant
Investment Highlights
Brand New 2023 High-Quality Construction (New Prototype) Excellent Access & Visibility Right Off Interstate-10 (110,000 Vehicles Per Day) & S Cities Service Hwy (21,000 Vehicles Per Day) Corporately Guaranteed Lease by Starbucks (NASDAQ: SBUX) - Rated BBB+ by S&P 10-Year NNN Lease w/ 10% Increases Every 5-Years Directly Across from Brand New Whataburger & Taco Bell Dense Retail Trade Area w/ 159,000 Residents in 10-Miles
Executive Summary
The subject property is a newly constructed Starbucks drive-thru located in Sulphur (Lake Charles), LA. The brand new 10-year NNN lease is corporately guaranteed by Starbucks and includes 10% rental increases every 5-years in the primary term and in the (4) five-year option periods.This brand new Starbucks is located in a dense retail trade area directly across from a brand new Whataburger & Taco Bell. Thesite benefits from its excellent visibility and access right off Interstate-10 and S Cities Service Hwy with traffic counts exceeding 130,000 vehicles per day. Within 10-miles of the subject property there are over 159,000 residents with an average household income exceeding $82,000 annually. National retailers in the immediate vicinity include Wendy?s, Checkers, Firehouse Subs, Sonic Drive-In, Circle K, Sport Clips, Walmart, Burger King, AT&T, GameStop, Dollar Tree, Verizon, T-Mobile, Dollar General, Popeyes, Walgreens, Taco Bell, Whataburger, McDonald?s, Lowe?s, Raising Cane?s, Chili?s, Cracker Barrel, and many more.Lake Charles is the biggest casino market in the State and serves as the host for more than 70 annual festivals which bring thousands of visitors to the city throughout the year. It is a major industrial, educational, cultural and entertainment center in the State. Lake Charles is the fifth-largest incorporated city in Louisiana.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Freestanding Freestanding General Retail Fast Food General Retail Restaurant General Retail Storefront Freestanding
- Building Size 2,165
- Year Built/Renovated 2008/2023
- Price 2,347,826
- Price Per SF 1,084
- Cap Rate 5.75
- NOI 135,000
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.05
- Land Acres 1.07 AC
Amenities
- Drive Thru
| Date Created: | 2024-07-16 04:16:15 | Last Updated: | 2024-07-16 04:16:15 |
| Address: | 140 S Cities Service Hwy , Sulphur, Louisiana, 70663 | ||