Starbucks | 1347 Waldron Rd
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Starbucks 1347 Waldron Rd
2,129 SF 4-Star Retail Building Corpus Christi, TX 78418 $2,478,000 ($1,164/SF) 5.65% Cap Rate
Investment Highlights
- 10-year corporate net lease to Starbucks Corporation (NASDAQ: “SBUX”)
- Investment-grade tenant, rated “BBB+” by Standard & Poor’s
- Per Statista, customers go to Starbucks six times per week on average
- 10% rental increases every five years in initial term and option periods
- Starbucks Corporation is the world’s premier coffee company, with over 38,000 locations worldwide and $36B in annual revenue
- Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily
Executive Summary
This Starbucks is located along Waldron Road with access to 17,523 vehicles passing directly in front of the site. Ideal location surrounded by a strong mix of local and national retailers, including H-E-B plus!, Walmart Supercenter, Dollar Tree, McDonald’s, Pizza Hut, Taco Bell, Whataburger, and many more. The site features visibility from State Route 358/ John F. Kennedy Memorial Causeway (83,243 AADT), greatly increasing local and commuter traffic to the property.
61,589 residents live within five miles of the site, creating a stable customer base for the site. Excellent average annual household income of $100,283 within a five-mile radius of this Starbucks.
The property resides 3.8 miles from Naval Air Station Corpus Christi, drawing significant area traffic (2,836 active duty members). The location features an excellent proximity to highly attended Corpus Christi Schools, including Flour Bluff Elementary School and Flour Bluff Intermediate School (combined 1,651 students).
61,589 residents live within five miles of the site, creating a stable customer base for the site. Excellent average annual household income of $100,283 within a five-mile radius of this Starbucks.
The property resides 3.8 miles from Naval Air Station Corpus Christi, drawing significant area traffic (2,836 active duty members). The location features an excellent proximity to highly attended Corpus Christi Schools, including Flour Bluff Elementary School and Flour Bluff Intermediate School (combined 1,651 students).
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,129 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2024
Price
$2,478,000
Price Per SF
$1,164
Cap Rate
5.65%
NOI
$140,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.10 AC
Frontage
131 FT on Waldron Road
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 379452 | Improvements Assessment | $26,250 |
| Land Assessment | $504,000 | Total Assessment | $530,250 |
PROPERTY TAXES
Parcel Number
379452
Land Assessment
$504,000
Improvements Assessment
$26,250
Total Assessment
$530,250
Contacts
-
Vincent Aicale -
Ryan Forsyth -
Jack Hinson -
Michael Yuras -
Scott Crowle -
Cushman & Wakefield
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Starbucks | 1347 Waldron Rd
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