Starbucks | 147 West End Cir
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Starbucks 147 West End Cir
2,200 SF Retail Building Verona, WI 53593 $2,571,000 ($1,169/SF) 5.25% Cap Rate
Investment Highlights
- HIGH PERFORMING STARBUCKS LOCATION – RANKED TOP 24% IN WISCONSIN, TOP 27% NATIOWIDE & RANKED #2 WITHIN THE TRADE AREA (SOURCE: PLACER.AI)
- 2022 CONSTRUCTION -NEWER ROOF (15-YEAR WARRANTY), HVAC, & PARKING LOT – LATEST STARBUCKS PROTOTYPE DESIGN
- LOCATED 1.5 MILES FROM THE 1,100 ACRE EPIC SYSTEMS CAMPUS HQ – EMPLOY OVER 13,000 PEOPLE IN DANE COUNTY – CLOSE PROXIMITY TO US ROUTE 151 (25,000 VPD)
- CORPORATE LEASE GUARANTY – STARBUCKS CORP. – INVESTMENT GRADE CREDIT
- KEY BUSINESS DRIVER - STRATEGICALLY LOCATED ACROSS THE STREET FROM VERONA AREA HIGH SCHOOL (1,700 STUDENTS)
- LOCATED IN THE BOOMING VERONA SUBMARKET WITHIN THE HIGHLY DESIRABLE MADISON MSA (13 MILES SOUTH) ONE OF THE FASTEST GROWING CITIES IN WISCONSIN
Executive Summary
This newly constructed Starbucks (built in 2022), is on a 10-year Corporate (S&P: BBB+)lease. The roof, HVAC units, and parking lot are virtually brand new. This should ensure no capital expenditures for the landlord long-term, making this property a true passive investment. Verona, Wisconsin is one of the most desirable and fastest growing cities in Wisconsin. It is home to Epic Systems and lies just 13 miles south of Madison, Wisconsin. Between 2021 – 2022, the median household income grew 15.9%.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,200 SF
Year Built
2022
Price
$2,571,000
Price Per SF
$1,169
Cap Rate
5.25%
NOI
$135,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.60 AC
Amenities
- Corner Lot
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0608-211-8650-2 | Improvements Assessment | $743,400 |
| Land Assessment | $694,800 | Total Assessment | $1,438,200 |
PROPERTY TAXES
Parcel Number
0608-211-8650-2
Land Assessment
$694,800
Improvements Assessment
$743,400
Total Assessment
$1,438,200
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Starbucks | 147 West End Cir
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