Starbucks - Penitas | 2101 Expressway 83 Expy
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Starbucks - Penitas 2101 Expressway 83 Expy
2,244 SF Retail Building Penitas, TX 78576 $2,174,000 ($969/SF) 5.75% Cap Rate
Investment Highlights
- Brand-New High Quality Construction with Drive-Thru
- Strong Corporate Guarantee
- 10-Year Corporate Net Lease with 10% Rental Escalations Every 5 Years
Executive Summary
Brand-New High-Quality Construction with Drive-Thru – Starbucks has a dedicated drive-thru lane while also offering indoor or outdoor seating. The oversized lot has ample parking with excellent ingress / egress
10-Year Corporate Net Lease with 10% Rental Increases Every 5 Years – Allows an investor the opportunity to acquire a net lease asset with limited responsibilities while the rental escalations provide a strong hedge against inflation
Strong Corporate Guarantee – Starbucks is an investment grade tenant with a BBB+ S&P credit rating and $32.3 billion in 2022 annual revenue
Features Excellent Highway Visibility and Accessibility with Strong Traffic Counts – The site sits directly off Highway 83 boasting over 38,311 VPD (Source: CBRE Analytics)
Best in Class Tenant – Since its beginning in 1971, Starbucks has opened over 35,000 locations and was recognized by Fortune as the #1 Most Admired Food Services Company in 2023
Strategically Located Adjacent to a 201,400 SF Walmart Supercenter with over 2-Million Annual Visitors (Source: Placer.AI)
Texas has NO State Income Tax
10-Year Corporate Net Lease with 10% Rental Increases Every 5 Years – Allows an investor the opportunity to acquire a net lease asset with limited responsibilities while the rental escalations provide a strong hedge against inflation
Strong Corporate Guarantee – Starbucks is an investment grade tenant with a BBB+ S&P credit rating and $32.3 billion in 2022 annual revenue
Features Excellent Highway Visibility and Accessibility with Strong Traffic Counts – The site sits directly off Highway 83 boasting over 38,311 VPD (Source: CBRE Analytics)
Best in Class Tenant – Since its beginning in 1971, Starbucks has opened over 35,000 locations and was recognized by Fortune as the #1 Most Admired Food Services Company in 2023
Strategically Located Adjacent to a 201,400 SF Walmart Supercenter with over 2-Million Annual Visitors (Source: Placer.AI)
Texas has NO State Income Tax
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,244 SF
Building Class
B
Year Built
2023
Price
$2,174,000
Price Per SF
$969
Cap Rate
5.75%
NOI
$125,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Land Acres
0.83 AC
Opportunity Zone
Yes
PROPERTY TAXES
| Parcel Number | H4250-01-000-0234-00 | Improvements Assessment | $0 |
| Land Assessment | $743,308 | Total Assessment | $743,308 |
PROPERTY TAXES
Parcel Number
H4250-01-000-0234-00
Land Assessment
$743,308
Improvements Assessment
$0
Total Assessment
$743,308
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Jared Aubrey -
Michael Austry -
CBRE
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Starbucks - Penitas | 2101 Expressway 83 Expy
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