Listed by Sands Investment Group Los Angeles
$2,481,481
Starbucks - Lockport, NY
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,480
Cap Rate 6.75%
NOI $167,500
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NNN
Lease Term 10.5
Lease Expiration 02/29/2036
Remaining Term 9.6
Rent Bumps Yes
Lease Options 4 x 5 Year Options
Year Built 2025
Acreage 0.920
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/05/2025
Ground Lease No
2025 Starbucks With Drive-Thru | Grocery-Anchored Outparcel | Corporate NNN
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 2,480 SF Starbucks located at 5789 S Transit Road in Lockport, NY. The property is leased directly to Starbucks Corporation (NASDAQ: SBUX; S&P: BBB+), which recently executed a new 10-year Triple Net (NNN) Lease commencing in September, 2025. Featuring a purpose-built prototype with a drive-thru, this asset offers investors long-term, passive income backed by the world's largest coffeehouse chain with more than 40,000 locations worldwide and no franchisee credit risk.
Investment highlights
- Investment-Grade Corporate Covenant, 10-Year New Construction Lease: Starbucks Corporation (NASDAQ: SBUX; S&P: BBB+) signed a new 10-year Triple Net (NNN) Lease commencing September, 2025, on a purpose-built, drive-thru-equipped prototype. No franchisee credit risk - the world's largest coffeehouse chain, with 40,000+ locations worldwide, is the direct obligor.
- Dominant Retail Corridor | Lockport's Highest-Traffic Commercial Strip: Positioned on South Transit Road, Lockport's primary retail corridor, with over 27,000 vehicles per day, and home to Walmart Supercenter, The Home Depot, TJ Maxx, ALDI, Five Below, PetSmart, Harbor Freight, Tops Friendly Markets, Panera Bread, and OfficeMax. This is the undisputed commercial spine of the greater Lockport trade area, the kind of corridor that generates daily, habitual traffic flow that Starbucks drive-thrus depend on.
- Outparcel to Tops Plaza | Pad Site Visibility With Institutional-Scale Co-Tenancy: The building occupies a pad site outparcel to Tops Plaza, a Tops Friendly Markets-anchored shopping center. The outparcel configuration delivers standalone drive-thru access and visibility independent of the main center, while benefiting directly from the grocery anchor's daily consumer draw.
- New Construction, 2025 Delivery | Zero Deferred Maintenance, Prototype Build: Delivered in 2025 as a build-to-suit ground-up development. Buyers inherit a brand-new building with 163 feet of Transit Road frontage, a dedicated drive-thru lane, and a full Starbucks prototype spec, with no capital expenditure concerns for the foreseeable future.
- 10% Rent Bumps Every 5 Years Through All Extension Terms: Fixed step-up escalations of 10% at each 5-year interval apply not just through the 10-year initial term but through all 4, 5-year extension options, delivering reliable NOI growth to a maximum 30-year term with no CPI exposure or flat-rent risk
- Wealthy, Captive Trade Area | $93K Average Household Income: Over 45,000 residents within a 5-mile radius earning an average household income exceeding $93,000, a demographic profile well above national QSR norms, supporting Starbucks' premium price-point business model. Daily traffic generators include the new Lockport Memorial Hospital and Lockport High School (1,400 students enrolled), both within close proximity.
- Buffalo MSA | Stable, Undersupplied Single-Tenant Market: Lockport sits within the Buffalo-Cheektowaga MSA, a market characterized by stable occupancy fundamentals and limited new net lease inventory at the corridor level. South Transit Road's concentration of national tenants reflects sustained investor and retailer confidence in the submarket, with few comparable drive-thru net lease opportunities trading in this immediate trade area.
Listing Contacts
Listed by Sands Investment Group Los Angeles
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$167,500.00
$13,958.33/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
