Starbucks | Early Renewal | 12 Yrs Remaining
1,764 SF | Retail Building | Elkhart, IN 46517 | $1,687,000 ($956/SF) | 5.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,687,000
- Property Type
-
Retail
- Square Feet
- 1,764 SF
- Price / Square Foot
- $956
Listing Contacts
Sean Sharko
Verified Profile
Austin Weisenbeck
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to exclusively offer a Starbucks, shadow-anchored by a full-service Meijer grocer, which includes a pharmacy and gas station and was remodeled in 2017. Starbucks has 12 years of term remaining, having recently executed an early 10-year renewal. The subject property also had recent capital improvements, including the replacement of both HVAC units in 2023. The property features a net lease with limited landlord responsibilities and is highly frequented, ranking among the top 10% of Starbucks locations nationwide with 346,600 visits from June 1, 2023, to May 31, 2024, as reported by Placer.ai. The Meijer location also saw approximately 1.8 million visits during the same period.
Conveniently located at a signalized, hard-corner intersection with over 26,500 vehicles per day along Elkhart Road, the property is situated in the Goshen Village Shoppes. Goshen Village Shoppes offers six points of ingress/egress and includes tenants such as Wingstop, The Joint Chiropractic, SalonCentric, Jimmy John’s, Little Caesars Pizza, AT&T, and Great Clips. The property is also in close proximity to many major retailers, such as Panera Bread, Target, Ross, Kohl’s, Dollar Tree, Walmart Supercenter, Burlington, Lowe’s, and Ulta Beauty.
Additionally, it is just 1.5 miles from Concord Business Park, which is undergoing a complete transformation and redevelopment into a 400,000-square-foot business park featuring a combination of flex/light industrial, office, and tech spaces. The surrounding area is well-populated, with over 72,000 residents within five miles, nearly 20,000 workers within three miles, and an average household income of $93,206 within one mile.
Conveniently located at a signalized, hard-corner intersection with over 26,500 vehicles per day along Elkhart Road, the property is situated in the Goshen Village Shoppes. Goshen Village Shoppes offers six points of ingress/egress and includes tenants such as Wingstop, The Joint Chiropractic, SalonCentric, Jimmy John’s, Little Caesars Pizza, AT&T, and Great Clips. The property is also in close proximity to many major retailers, such as Panera Bread, Target, Ross, Kohl’s, Dollar Tree, Walmart Supercenter, Burlington, Lowe’s, and Ulta Beauty.
Additionally, it is just 1.5 miles from Concord Business Park, which is undergoing a complete transformation and redevelopment into a 400,000-square-foot business park featuring a combination of flex/light industrial, office, and tech spaces. The surrounding area is well-populated, with over 72,000 residents within five miles, nearly 20,000 workers within three miles, and an average household income of $93,206 within one mile.
Property Details
- Class
- C
- Year Built
- 2006
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 23,087 SF
Highlights
- Starbucks Recently Executed an Early 10-Year Renewal | 12 Years Term Remaining
- 18-Year Operating History for Starbucks
- Shadow-Anchored by Full-Service Grocer, Meijer | This Meijer Location was Remodeled in 2017 | Includes a Pharmacy and Gas Station
- Highly Frequented Location | Among the Top 10% of Starbucks Locations Nationwide, with 346,600 Visits from Jun 1, 2023 to May 31, 2024 (Placer.ai)
- Conveniently Situated on a Signalized, Hard Corner Intersection
- Over 72,000 People Live Within Five Miles
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