Starbucks
Retail | 6.25% Cap Rate | 2,500 Sq Ft
Marketing description
Horvath & Tremblay is pleased to present the exclusive sale of a corporate leased Starbucks investment property located at 3019 George Washington Memorial Highway in Hayes, Virginia (the “Property”). Starbucks is operating under a rare, 15-year lease, and is followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option.
Starbucks is located along the George Washington Memorial Highway (US Highway 17) and enjoys excellent visibility, frontage, and prominent signage. The new construction Property is adjacent to the signalized intersection with Powhatan Drive, which is home to Wendy’s, Chesapeake Bank, and 7-Eleven, and is less than 1.2-miles from the area’s two grocery anchored shopping centers. Hayes is located in the southeastern part of Virginia and is 16-miles north of Newport News, 40-miles north of Norfolk, and 65-miles southeast of Richmond.
Investment highlights
RARE 15-YEAR LEASE: Starbucks is operating under a rare, 15-year lease, which commenced in 2024. Starbucks has 13 years remaining on their primary term followed by six (6), 5-year renewal options.
NEW CONSTRUCTION: The Property features Starbucks’ best-in-class drive-thru, as well as an outdoor patio space, both designed to enhance the customer experience and drive sales.
ATTRACTIVE RENT INCREASES: The lease features attractive 10% rent increase every five years throughout the primary lease term and at the start of each renewal option, providing the investor with an attractive increase in revenue and a hedge against inflation.
INVESTMENT GRADE CREDIT: Starbucks Corp. (NASDAQ: SBUX) boasts an investment grade credit rating of BBB+ (S&P) and Baa1 (Moody’s). Starbucks has a market cap of approximately $120.89 billion (05/13/2026) and reported FY 2025 revenues of $37.2 billion, a 3% increase over 2024 revenues.
STRATEGIC RETAIL LOCATION: The Property is located along George Washington Memorial Highway (US Highway 17), the area’s primary commercial and commuter corridor and is adjacent to the signalized intersection with Powhatan Drive. The location benefits from excellent visibility, frontage, and prominent signage and features Starbucks’ best-in-class drive-thru and an outdoor patio space. Starbucks is strategically positioned in between the area’s two grocery stores, Hayes Stores Shopping Center, anchored by Kroger, and York River Crossing, anchored by Food Lion, both of which drive significant traffic to the area.
TRAFFIC COUNTS: More than 36,400 vehicles per day pass by the Property along George Washington Memorial Highway (US Highway 17).
RETAIL TRADE AREA: Additional retailers driving traffic to the area include Food Lion, Kroger, Anytime Fitness, Bealls, YRC Cinemas, Walgreens, Dollar General, Dollar Tree, Family Dollar, AutoZone, Advance Auto Parts, O’Reilly Auto Parts, Napa, McDonald’s, Wendy’s, Taco Bell, Hardee’s, Pizza Hut, Domino’s Pizza, Subway, and 7-Eleven.
DEMOGRAPHICS: Over 17,700 people live within 5-miles of the Property with an average household income of $102,819. More than 108,400 people reside within 10-miles of the Property with an average household income of $117,218.
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