Starbucks - Penitas

2,244 SF | Retail Building | Penitas, TX 78576 | $2,083,000 ($928/SF) | 6% Cap Rate

Asking Price $2,083,000

Property Type: Retail
Square Feet: 2,244 SF
Price / Square Foot: $928

Listing Contacts

Jared Aubrey

Verified Profile

Michael Austry

Verified Profile

Property Info

Property Overview

Brand-New High-Quality Construction with Drive-Thru – Starbucks has a dedicated drive-thru lane while also offering indoor or outdoor seating. The oversized lot has ample parking with excellent ingress / egress
10-Year Corporate Net Lease with 10% Rental Increases Every 5 Years – Allows an investor the opportunity to acquire a net lease asset with limited responsibilities while the rental escalations provide a strong hedge against inflation
Strong Corporate Guarantee – Starbucks is an investment grade tenant with a BBB+ S&P credit rating and $32.3 billion in 2022 annual revenue
Features Excellent Highway Visibility and Accessibility with Strong Traffic Counts – The site sits directly off Highway 83 boasting over 38,311 VPD (Source: CBRE Analytics)
Densely Developed Residential Market within Penitas – There are over 113,466 residents within a 7-mile radius of the property with an average household income of $58,123
Best in Class Tenant – Since its beginning in 1971, Starbucks has opened over 35,000 locations and was recognized by Fortune as the #1 Most Admired Food Services Company in 2023
Strategically Located Adjacent to a 201,400 SF Walmart Supercenter with over 2-Million Annual Visitors (Source: Placer.AI)
Located Along Major Retail Corridor – Neighboring national retailers include Chick-fil-A, Walmart Supercenter, T-Mobile, Subway, 7-Eleven,
McDonald’s, Whataburger, O’Reilly Auto Parts, Dominos, Murphy USA, Wingstop, Dollar Tree, Denny’s, and many more
Business Friendly Climate – Texas is the World’s 9th Largest Economy, has been the #1 State for Export Trade for 19 consecutive years, and is
currently the #1 State for Job Creation, Population Growth, and Corporate Expansions/Relocations
Texas has NO State Income Tax

Property Details

Class: B
Year Built: 2023
Stories: 1
Lot Size (sq. ft): 36,155 SF

Highlights

Brand-New High Quality Construction with Drive-Thru
10-Year Corporate Net Lease with 10% Rental Escalations Every 5 Years
Strong Corporate Guarantee

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