Listed by Marcus & Millichap - San Diego, Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$2,399,000
Starbucks
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,265
Units 1
Cap Rate 7%
NOI $167,904
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Remaining Term 8
Rent Bumps Yes
Lease Options Four, 5-Year
Price per SqFt $1,059
Year Built 2023
Acreage 0.940
Investment Type Net Lease
Retail | 7.00% CAP | 2,265 SqFt
Investment highlights
- New 10-Year Corporate Lease with No Early Termination Clause
- 7% Rental Increases Every 5 Years in the Base Term and Options
- Investment Grade Credit Tenant (Rated BBB+ by S&P), Ranked #125 on Fortune 500
- New High-Quality Construction with a Drive-Thru, Minimal Landlord Responsibilities
- Serving Over 112,000 Residents in Established Central Illinois Trade Area
- One of the Fastest Growing Metro Areas in Illinois with Residential, Commercial, and Industrial Growth
- Strategic Location, Only Freestanding Starbucks in West Bloomington, Nearest Store is 4+ Miles Away
- This Location Ranks Among the Top 50% of All Starbucks Stores Nationwide (Placer.ai)
- Minutes to $2+ Billion Rivian Manufacturing Plant with 8,000+ Employees, $1.5 Billion Expansion Under Construction
- Close Proximity to Illinois State University (22,000 Students) and Illinois Wesleyan University (1,600+ Students)
- 2 Miles to $400 Million Bloomington 77, a Mixed-Use Development with 800 Homes
- 3.5 Miles to State Farm’s 1.86 Million SF World Headquarters with 13,000+ Employees
- Dominant Retail Corridor with High-Performing Stores and Restaurants Nearby
- Highly Visible at Signalized Intersection with 20,000+ Cars/Day
- Just Off I-74/55 with 43,000+ Cars/Day, a Major North/South Artery with Direct Access to Downtown Chicago
- Strong Daytime Population, More Than 55,000 Employees in Primary Trade Area
Listing Contacts
Listed by Marcus & Millichap - San Diego, Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$167,904.00
$13,992.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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