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29581922
29581923

3620 Estes Pkwy, Longview, TX 75602

JL
CA 01942025, NE 20191334
Hanley Investment Group
BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
SC
The Woodmont Company
Listed by Hanley Investment Group, The Woodmont Company
$1,867,000
122 days on market
Updated 10 days ago
Opportunity zone

Starbucks | Longview, TX

Details
APN 0219011700-031-00-02
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,400
Net Rentable (SqFt) 1,400
Cap Rate 6%
NOI $111,993
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NNN
Lease Term 10.2
Lease Expiration 02/27/2033
Remaining Term 6.7
Rent Bumps Yes
Lease Options Three 5-Year @ 7.5% Increases; One 5-Year @ 5% Increase
Price per SqFt $1,334
Broker Co-Op Yes
Year Built 2022
Buildings 1
Stories 1
Acreage 0.870
Lease Commencement 12/26/2022

New 10-Year Lease | Covered Land Play With Low Rent | Off I-20; 45,000 CPD

Marketing description

CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/Starbucks_Longview

Investment highlights

  • Single-Tenant Corporate Starbucks Drive-Thru:

    • New 10-year lease

    • Rare Starbucks lease provision with tenant self-maintaining the property

    • 10% rent increase in year 6 of the primary term

    • Corporate lease (NASDAQ: SBUX; S&P: BBB+)

    • Largest coffeehouse chain globally with approximately 40,000± stores in 84 countries

  • New Starbucks Prototype; Favorable Cafe and Drive-Thru Format:

    • The subject property features a drive-thru, outdoor patio seating, and an indoor pick-up window

  • No Income Tax: Texas is a non-income tax state

  • Longview is an Underserved Starbucks Market: The subject property is the only Starbucks drive-thru located with direct access to the I-20 for over 40 miles

  • Longview is Located Between Dallas-Fort Worth Metroplex and Shreveport, Louisiana:

    • “Top 100 Best Cities for Young People” by America’s Promise Alliance

    • One of the lowest costs of living in Texas

    • Over 215,000 people in the greater metropolitan area

Listing Contacts

JL
CA 01942025, NE 20191334
Hanley Investment Group
BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
SC
The Woodmont Company
Listed by Hanley Investment Group, The Woodmont Company

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$111,993.00
$9,332.75/mo

Valuation Metrics

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DSCR
6%
Cap Rate
6%
ROI

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