Starbucks
Retail | 6.15% CAP | 2,293 SqFt
Marketing description
Katz & Associates, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the property located at 15229 South 1st Street, Milan, TN (“the Property”). Encompassing ±2,293 square feet on ±0.32-acre lot, the Property represents recent 2025 construction and is fully leased to Starbucks operating under a 10-year Lease.
The Lease is corporately guaranteed by Starbucks Corporation. Founded in 1985, Starbucks (NASDAQ: SBUX) is one of the leading QSR operators in the world and drove over $36 billion in Revenue in FYE 2024 and $3.7 billion in Net Income at over 38K+ locations worldwide. Starbucks is rated BBB+ by S&P. The Property has a high-capacity drive-thru for Starbucks with a stacking plan that allows for 11 vehicles, signaling the Tenant’s high expectations for the site.
Milan, Tennessee has nearly 8,000 residents. Located in Gibson County at the crossroads of US Highway 45 and US Highway 70A/79, Milan is in the heart of the US Southeast region. Milan is home to the largest industrial base in the county with over a dozen major employers. 12 miles southwest of the Property, Tyson Foods (NYSE: TSN) recently opened a new poultry complex in Humboldt, TN. The $425 million project, which includes a processing plant, feed mill and hatchery, represents Tyson’s biggest investment in Tennessee and the single largest corporate investment ever in Gibson County
Investment highlights
- Katz & Associates, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the property located at 15229 South 1st Street, Milan, TN (“the Property”).
- Encompassing ±2,293 square feet on ±0.32- acre lot, the Property represents recent 2025 construction and is fully leased to Starbucks operating under a 10-year Lease.
- The Lease is corporately guaranteed by Starbucks Corporation.
- Founded in 1985, Starbucks (NASDAQ: SBUX) is one of the leading QSR operators in the world and drove over $36 billion in Revenue in FYE 2024 and $3.7 billion in Net Income at over 38K+ locations worldwide.
- 100% Fee simple Tenant will be operating under a brand-new 10 year lease. The Lease offers long-term cash flow to investors. The 7.5% increase midway through the term provides a hedge against inflation and boosts returns.
- Corporate guarantee from Starbucks corporation The Tenant is Starbucks Corporation (NASDAQ: SBUX | S&P: BBB+), an investment-grade tenant and one of the largest QSR operators in the world. Starbucks generated over $37+ billion in Revenue and $ 3.7+ billion in Net Income in FY 2025 through over 40K+ locations globally.
- Brand-new 2025 construction with high-capacity drive-thru The Property represents new 2025 construction and offers both drive-thru and dine in options. The drive-thru is a larger, high-capacity design with a stacking plan to accommodate 11 vehicles. This speaks to Starbucks’ high expectations for vehicle traffic at the location.
- High-traffic trade area w/ signalized intersection The property is located off 1st Street (Highway 45), which benefits from more than 17,708+ VPD and crosses with Graball Drive (2,242 VPD) to the North.
- Easy access to the premises The property benefits from the signalized intersection of 1st Street and Graball Drive as well as a median split off 1st Street. This creates two access points to the Property.
- Adjacent to major traffic drivers The Property is situated just north of Walmart ($93M+ in sales and 41st percentile per Placer.ai) and Lowe’s ($44M in sales and 34th percentile nationally). These also serve as the only major grocery and hardware stores within 10 miles, making them destinations.
- Income tax free state Investor demand for the Tennesse properties is high due to the income tax free status. Additionally, the state’s exceptional growth and business-friendly atmosphere draws investor attention from across the country.
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