Starbucks - El Paso, TX
2,020 SF | Retail Building | El Paso, TX 79928 | $2,995,000 ($1,483/SF) | 5% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,995,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,020 SF
- Price / Square Foot
- $1,483
Listing Contacts
Chuck Klein
Verified Profile
Robert Donnell
Verified Profile
Cory Withers
Verified Profile
- Property Info
Property Overview
• Brand-New Construction
• 10-Year NNN Ground Lease
• 10% Rent Increases Every 5 Years
• Investment Grade Tenant
• Excellent Access / Visibility
• Densely Populated and Affluent Trade Area
• Situated in Monteverde, a new 30-Acre Mixed-Use Development
• 10-Year NNN Ground Lease
• 10% Rent Increases Every 5 Years
• Investment Grade Tenant
• Excellent Access / Visibility
• Densely Populated and Affluent Trade Area
• Situated in Monteverde, a new 30-Acre Mixed-Use Development
Property Details
- Year Built
- 2024
- Stories
- 1
- Lot Size (sq. ft)
- 44,867 SF
Highlights
- New Construction, 10-Year NNN Lease
- 10% rent increases every 5 years provide a hedge against inflation
- Investment grade tenant – the corporate lease is backed by Starbucks Corporation, a globally recognized tenant with over 38,000 locations and a BBB+/B
- Excellent Access and Visibility – located at the signalized intersection of Joe Battle Blvd and Pellicano Dr with a traffic count excess of 46,000 VPD
- Densely Populated and Affluent Trade Area - over 13,050 residents within a 1-mile radius and average household income over $112,800
- Starbucks is situated in a new ~30-acre mixed-use development, Monteverde, on the rapidly growing East side of El Paso
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