Listed by Marcus & Millichap - San Diego, Marcus & Millichap - Phoenix, Marcus & Millichap - Columbus
$2,478,200
Starbucks
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,243
Cap Rate 6.85%
NOI $169,762
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Lease Term 10
Rent Bumps Yes
Lease Options Four, 5-Year
Price per SqFt $1,105
Year Built 2023
Acreage 1.360
Investment Type Net Lease
Retail | 6.85% CAP | 2,243 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
- Largest Coffeehouse Chain Globally with 41,000+ Stores in 88 Countries
- New Prototype Generates 50% More Revenue and Supports 70%+ of Sales Through Mobile, Drive-Thru, and Delivery
- Strategic Location, the Only Freestanding Starbucks in Morgan County
- This Location Ranks Among the Top 35% of All Starbucks Stores Nationwide (Placer.ai)
- Directly Across from Illinois College and Jacksonville Middle School
- Surrounded by Walmart Supercenter, Home Depot, HyVee, Aldi, Marshalls, Ollie’s Outlet, Dunham’s Sports, and Many More
- Average Household Income Exceeds $76,000 in 1-Mile and $73,000 in 3 Miles
- Highly Visible Along Major Commercial Corridor with 16,300 Cars/Day
- Easy Access to I-72 and Route 67, Connects to Chicago, Indianapolis, St. Louis, and Kansas City
- Close Proximity to Award-Winning Jacksonville Memorial Regional Hospital, Serving Residents of Morgan, Cass, Scott, Greene and Brown Counties
- Strong Daytime Population, More Than 11,322 Employees in Primary Trade Area
- Minutes to Future Champions Sports Complex and Jacksonville Speedway Attracting Thousands of Visitors Annually
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
$169,762.00
$14,146.83/mo
Valuation Metrics
0
DSCR
6.85%
Cap Rate
6.85%
ROI
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