Starbucks - Top Performing Store - Undergoing Remodel
Starbucks - Top Performing Store - Top 93rd Percentile Nationwide - #4 in New Mexico
Marketing description
INVESTMENT OFFERING
Fortis Net Lease is pleased to present this 1,752 SF Starbucks equipped with drive-thru inHobbs, NM. The property is encumbered with a new ten (10) year NN Lease of which 6.75 yearsremaining. The lease contains four, 5-year options to renew with 10% rent increases. The leaseis corporately guaranteed by Starbucks Corporation which holds a credit rating of “A-” per S&P,which is classifi ed as Investment Grade.
This Starbucks is highly visible as it is strategically positioned on West Joe Harvey Boulevard(13,707 VPD) near the corner of N. Lovington Highway (20,590 VPD). The fi ve mile populationfrom the site exceeds 49,770, while the one mile average household income exceeds $110,542per year, making this location ideal for a Starbucks.
The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Starbucks. This investment will offer a newowner continued success due to the fi nancial strength and the proven profi tability of thetenant, the the premier retailer of specialty coffee.
Investment highlights
10 Year Lease Extension with 10% Rent Increase Every 5 Years Shows Tenants Profitability and Commitment to the Subject Property
Store is Currently Undergoing a Remodel to New Façade
The Property Contains a Modified NN Lease, Which Means the Landlord Maintains Roof and Structure. However, the Tenant Pays for Insurance to Cover the Damage
Outparcel to 24 hour Walmart Supercenter Providing Excellent Cross Consumer Traffic
Over 34,000 Vehicles Per Day
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