Starbucks | 9+yrs Remain Corp Lse | DrThru
2,365 SF | 4-Star Retail Building | Concord, NC 28027 | $2,895,000 ($1,224/SF) | 5.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,895,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,365 SF
- Price / Square Foot
- $1,224
Listing Contacts
Britt Raymond
Verified Profile
Patrick Luther
Verified Profile
- Property Info
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, newly constructed, Starbucks investment property located in Concord, North Carolina. The tenant, Starbucks Corporation, recently signed a brand new 10 year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease NN with limited landlord responsibilities making it an ideal, limited-management investment opportunity for a passive investor.
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 61,855 SF
Highlights
- Starbucks Corporate Lease | Options To Extend | New Construction | Drive-Thru Equipped
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Close Proximity to Target Anchored Center | Visibility and Access
- Strong Demographics In 5-Mile Trade Area
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