Starbucks | 13+yrs Remain Corp NN | S&P: BBB+ | 1580 US-72 Hwy
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Starbucks | 13+yrs Remain Corp NN | S&P: BBB+ 1580 US-72 Hwy
2,500 SF Retail Building Corinth, MS 38834 $2,500,000 ($1,000/SF) 6.38% Cap Rate
INVESTMENT HIGHLIGHTS
- 13+ Years Remaining | 2022 Construction | Options to Extend | Corporate Signed (S&P: BBB+) | Scheduled Rental Increases
- Dense Retail Corridor | Strong National/Credit Tenant Presence
- Strong Demographics in 5-Mile Trade Area
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strategically Located Along U.S. Hwy 72 (24,000 VPD) | Excellent Visibility & Access | Drive-Thru Equipped
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, corporate signed, investment grade (S&P: BBB+) Starbucks investment property located in Corinth, Mississippi. The tenant, Starbucks, has over 13 years remaining on their current lease with 6 (5-year) options to extend, demonstrating their commitment to the site. Starbucks exercised a five year option early to make the original term length 15 years instead of the more common 10 year term. The lease features a 10% rental increase in March 2028 and 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities to roof, structure, and parking lot. The newly-constructed building features a state-of-the-art design with high-quality materials. Since 1971, Starbucks Coffee Company has been committed to roasting high-quality arabica coffee. Today, with more than 38,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,500 SF
Building Class
B
Year Built
2022
Price
$2,500,000
Price Per SF
$1,000
Cap Rate
6.38%
NOI
$159,376
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.42 AC
Opportunity Zone
Yes
Zoning
C2 - General Commercial
Parking
42 Spaces (16.8 Spaces per 1,000 SF Leased)
Frontage
285’ on U.S. 72
AMENITIES
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Starbucks
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Starbucks | Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $60,888 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$60,888
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Starbucks | 13+yrs Remain Corp NN | S&P: BBB+ | 1580 US-72 Hwy
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