Starbucks | New 10yr Corp Lse | DrThru 3232 N. Lewis

Investment Highlights

Brand New 10-Year Lease | New Construction | Options to Extend | Corporate Signed (S&P: BBB+) | Scheduled Rental Increases Strong National/Credit Tenant Presence | Nearby Schools Strong Demographics in 5-Mile Trade Area | Chicago MSA NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities Signalized, Hard Corner Intersection | Drive-Thru Equipped |Excellent Visibility

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building) in a NN leased, drive-thru equipped, Starbucks investment property located in Waukegan, IL (Chicago MSA). The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation. In addition, the site will feature a newly constructed, drive-thru equipped building with modern amenities and design. The lease signature is corporate (S&P: BBB+) and is NN with limited landlord responsibilities. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 35,000 locations around the world.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Freestanding Freestanding General Retail Fast Food General Retail Restaurant Freestanding
• Building Size    2,360
• Building Class    B
• LoopNet Rating    4 Star
• Year Built    2024
• Price    2,333,000
• Price Per SF    989
• Cap Rate    6
• NOI    140,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.11
• Land Acres    0.49 AC

• Corner Lot
• Restaurant
• Signalized Intersection
• Drive Thru