Listed by Kidder Mathews Seattle
$1,789,100
Starbucks - Tumwater
Details
APN 0925-00-52002
Property Type Retail
Sub Type Restaurant
Square Footage 3,000
Cap Rate 5.50%
NOI $98,400
Tenancy Single
Lease Type NNN
Lease Expiration 03/31/2031
Price per SqFt $596
Year Renovated 2021
Acreage 0.890
Zoning General Commercial
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 03/22/2021
Ground Lease Yes
Recently Remodeled Starbucks | Shadow Anchored by Safeway | Tumwater WA
Marketing description
Kidder Mathews is pleased to present the opportunity to acquire a net leased Starbucks in Tumwater, WA. This opportunity features extremely strong real estate fundamentals with a drive-thru offering investors a passive investment backed by an investment-grade tenant. The property is offered as a leasehold interest subject to an existing ground lease.
Investment highlights
- The Property is leased to Starbucks, an investment-grade tenant with an S&P credit rating of BBB+, offering security of a globally recognized brand with strong financial performance and a long history of successful operations
- Starbucks is shadow-anchored by Safeway that includes a Safeway Fuel station.
- The Tumwater Starbucks store features a drive-thru, a format that consistently generates higher average sales volumes and aligns with evolving consumer demand for convenience and speed of service.
- Originally constructed as a bank branch, the building features high-quality construction designed for long-term durability. The 2021 conversion to a stand-alone Starbucks retained the property's infrastructure, with the approximately 3,000 SF basement dedicated to mechanical and electrical systems, and landlord storage and access. Total building square footage is 6,000 SF.
- The Property is offered as a leasehold interest subject to an existing ground lease, allowing investors to acquire the improvements and associated leasehold rights without fee simple land ownership.
Listing Contacts
Listed by Kidder Mathews Seattle
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$98,400.00
$8,200.00/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
Map
Zoning
BD SpecialBrewery District
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