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Starbucks 14147 Upward Crossing Dr

2,600 SF Retail Building Flat Rock, NC 28731 $2,250,000 ($865/SF) 6% Cap Rate

Investment Highlights

  • Attractive Lease Fundamentals
  • Nearby Major Industrial Employers
  • Strategic Location - Directly off I-26

Executive Summary

Corporate Guarantee from Credit Worthy Tenant
- Starbucks has an S&P rating of BBB+
- Over 35,000 locations worldwide
- $30.3B in Total Revenue
Attractive Lease Fundamentals
- Corporate Guarantee from Credit Rated Tenant
- 10% rental increases every 5-years including options
- Six (6) - five (5) year options
- Minimal LL responsibilities
New Construction
- New build-to-suit Starbucks
- Warranties will be assigned to the new owner
Strategic Location
- Positioned on the morning side of I-26 (59K VPD) exit to Hendersonville
- Located in front of a Holiday Inn Express (85 key hotel) and a planned Tru by Hilton (90 key hotel)
- Direct access to The Summit at Hendersonville, a 50 unit apartment complex
Nearby Industrial Employers
- Less than 0.5 miles to Blue Ridge Commerce Center - a 648K SF Class A industrial park
- Less than half mile to Parts Unlimited 229K SF distribution facility
- Approximately 0.6 miles to Jabil Healthcare’s 160K SF distribution facility

Property Facts

Sale Type
Investment
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,600 SF
Year Built
2023
Price
$2,250,000
Price Per SF
$865
Cap Rate
6%
NOI
$134,989
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.86 AC
Opportunity Zone
Yes

Nearby Major Retailers

Starbucks
Waffle House
Curves
Cracker Barrel Old Country Store
  • Listing ID: 31321591

  • Date on Market: 3/25/2024

  • Last Updated:

  • Address: 14147 Upward Crossing Dr, Flat Rock, NC 28731

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