New Starbucks | 10+ Yrs | Richmond MSA | 2151 Pocahontas Trl
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New Starbucks | 10+ Yrs | Richmond MSA 2151 Pocahontas Trl
2,500 SF Retail Building Quinton, VA 23141 $2,937,000 ($1,175/SF) 5.75% Cap Rate
Executive Summary
• Brand-new (2024), state-of-the-art construction Starbucks
• Corporately guaranteed lease which is backed by BBB+, investment-grade credit (S&P)
• New, 10-year & 3-month initial term with 10% rental increases throughout the initial term and options, providing an excellent hedge
against inflation | No kick-out clause in the lease
• New, 20-year roof warranty to be transferred to Buyer at close of escrow
• Directly off an on-ramp & off-ramp for I-64 which boasts 76,000 VPD
• Adjacent to a new construction Arby’s
• Direct access and visibility from Pocahontas Trail which sees over 14,000 VPD
• Just off the signalized intersection of New Kent Hwy & Pocahontas Trl | Combined ±33,600 VPD
• Located within an ideal commuter retail corridor with tenants such as Food Lion, McDonald’s, Walgreens, Bojangles, Taco Bell, Arby’s,
Waffle House, Dunkin’, Dollar General, VCU Health Emergency, among others
• About a 10-minute drive from Richmond International Airport
• Starbucks is ranked #125 on Fortune 500 list (2023), #1 World’s Most Admired Company in the Food Services Industry – Fortune Magazine (2023), and #1 Most Valuable Restaurant Brand in the World – Brand Finance (2023)
• Starbucks is the world’s largest coffee chain with 38,000+ locations
in 76 countries | $35.97B in revenue in 2023, an 9.3% increase from 2022
• Corporately guaranteed lease which is backed by BBB+, investment-grade credit (S&P)
• New, 10-year & 3-month initial term with 10% rental increases throughout the initial term and options, providing an excellent hedge
against inflation | No kick-out clause in the lease
• New, 20-year roof warranty to be transferred to Buyer at close of escrow
• Directly off an on-ramp & off-ramp for I-64 which boasts 76,000 VPD
• Adjacent to a new construction Arby’s
• Direct access and visibility from Pocahontas Trail which sees over 14,000 VPD
• Just off the signalized intersection of New Kent Hwy & Pocahontas Trl | Combined ±33,600 VPD
• Located within an ideal commuter retail corridor with tenants such as Food Lion, McDonald’s, Walgreens, Bojangles, Taco Bell, Arby’s,
Waffle House, Dunkin’, Dollar General, VCU Health Emergency, among others
• About a 10-minute drive from Richmond International Airport
• Starbucks is ranked #125 on Fortune 500 list (2023), #1 World’s Most Admired Company in the Food Services Industry – Fortune Magazine (2023), and #1 Most Valuable Restaurant Brand in the World – Brand Finance (2023)
• Starbucks is the world’s largest coffee chain with 38,000+ locations
in 76 countries | $35.97B in revenue in 2023, an 9.3% increase from 2022
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
2,500 SF
Year Built
2024
Price
$2,937,000
Price Per SF
$1,175
Cap Rate
5.75%
NOI
$168,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.38 AC
Zoning
BUS
Parking
41 Spaces (16.4 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19 4 2 | Improvements Assessment | $0 |
| Land Assessment | $92,600 | Total Assessment | $92,600 |
PROPERTY TAXES
Parcel Number
19 4 2
Land Assessment
$92,600
Improvements Assessment
$0
Total Assessment
$92,600
Contacts
-
Calvin Short -
Ransome Foose -
Matt Coates -
Gary Chou -
Aron Cline -
Rad Werssowetz -
Berkeley Capital Advisors
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New Starbucks | 10+ Yrs | Richmond MSA | 2151 Pocahontas Trl
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