Starbucks and Dollar Loan Center
Retail | 6.50% CAP | 4,075 SqFt
Marketing description
SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a drive-thru equipped, 100% occupied, 2-tenant Starbucks (NASDAQ: SBUX | S&P: BBB+) and Dollar Loan Center pad located in Beaver Dam, Wisconsin. The property spans across a 1.40-acre lot and consists of two suites totaling 4,075 SF. Built in 2024, the property offers state-of-the-art construction and top-tier amenities, significantly reducing the risk of near-term capital expenditures. Both tenants recently signed new 10- and 5-year leases with scheduled rental increases and multiple options to extend, demonstrating their long-term commitment to the site. Both leases are NNN in nature, minimizing expense leakage for a future investor. Starbucks occupies the larger end cap suite and is equipped with a drive-thru, providing ease and convenience for customers.
The asset is strategically located at the signalized, hard corner intersection of Gateway Drive and Frances Lane which supports more than 11,300 vehicles per day. Furthermore, the site benefits from nearby access to Highway 151 (21,200 VPD) and Highway 33 (5,900 VPD), making this an ideal, centralized location with easy commutes. Moreover, the asset is adjacent to a Walmart Supercenter that supports more than 2.4M visitors per year and ranks in the top 80th percentile of Walmart locations within Wisconsin (per Placer.ai). Other nearby national/credit tenants include Menards, Ross, Marshalls, Harbor Freight, Kohls, Aldi, Staples, Five Below, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. In addition, the asset is ideally positioned within walking distance from multiple apartment complexes such as The District (128 units), Spring Isle (134 units), The Spring Lake Apartments (148 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 21,000 residents and 12,000 employees who earn average household incomes of more than $93,000.
Investment highlights
- Corporate Starbucks lease (NASDAQ: SBUX | S&P: BBB+)
- The property spans across a 1.40-acre lot and consists of two suites totaling 4,075 SF
- Built in 2024, the property offers state-of-the-art construction and top-tier amenities
- Both tenants recently signed new 10- and 5-year leases with scheduled rental increases and multiple options to extend
- The leases are NNN in nature, minimizing expense leakage for a future investor
- Starbucks occupies the end cap suite and is equipped with a drive-thru
- The asset is strategically located at the signalized, hard corner intersection of Gateway Drive and Frances Lane which supports more than 11,300 vehicles per day
- The site benefits from nearby access to Highway 151 (21,200 VPD) and Highway 33 (5,900 VPD)
- The subject is adjacent to a Walmart Supercenter that supports more than 2.4M visitors per year and ranks in the top 80th percentile of Walmart locations within Wisconsin (per Placer.ai)
- Other nearby national/credit tenants include Menards, Ross, Marshalls, Harbor Freight, Kohls, Aldi, Staples, Five Below, and more
- Within walking distance from multiple apartment complexes such as The District (128 units), Spring Isle (134 units), Spring Lake Apartments (148 units), and more
- More than 21,000 residents and 12,000 employees support the trade area
- $93,000 average household income
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