Starbucks Drive-Thru fronting Walmart | 2224 S Douglas Hwy
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Starbucks Drive-Thru fronting Walmart 2224 S Douglas Hwy
2,540 SF Retail Building Gillette, WY 82718 $3,083,333 ($1,214/SF) 6% Cap Rate
Investment Highlights
- Starbucks (NYSE: SBUX): Corporate-backed lease and income stream from investment grade credit tenant
- Brand new drive-thru / relocation store strategically situated on Douglas Highway (28,000 VPD per LandVision)
- Long term lease (no early termination) with rental increases every 5 years
- Outparcel fronting #2 Visited Walmart Supercenter (3.1M visitors) in Wyoming, per Placer.ai
- Embedded in dynamic retail corridor near Interstate 90 entrance/exit
- Ease of management for investor
Executive Summary
We are pleased to present the rare opportunity to acquire fee simple interest (land & building) in a brand new,
drive-thru, freestanding Starbucks property in the pro-business state of Wyoming. Starbucks has chosen
this outparcel in front of Walmart, Hobby Lobby, and Harbor Freight as a relocation opportunity for their
newest corporate drive-thru prototype. This quick-service coffee restaurant just opened in March 2024,
and kicked off a fresh 10+ year lease with 10% rental increases occurring every 5 years of the lease term.
In addition to the corporate-backed lease, Starbucks does not have the right to terminate the lease early,
which provides additional security and stability for an investor. This brand new Starbucks property is the
ideal investment opportunity for a passive investor looking for a drive-thru QSR property with a premier,
investment-grade tenant (BBB+).
The subject property on Douglas Highway (28,000 VPD) directly services the residents and the primary
trade area of Wyoming’s third largest city. This location directly benefits from the synergy created by the
national retailers surrounding the site including: Walmart Supercenter, Hobby Lobby, Harbor Freight Tools,
Albertsons, Home Depot, Boot Barn and more. This Starbucks property is also adjacent to the Interstate
90 freeway entrance/exit, which runs through the city and connects Seattle WA, Spokane WA, Bozeman
MT, Gillette WY, Sioux Falls SD, Madison WI, to eventually Chicago IL and beyond.
drive-thru, freestanding Starbucks property in the pro-business state of Wyoming. Starbucks has chosen
this outparcel in front of Walmart, Hobby Lobby, and Harbor Freight as a relocation opportunity for their
newest corporate drive-thru prototype. This quick-service coffee restaurant just opened in March 2024,
and kicked off a fresh 10+ year lease with 10% rental increases occurring every 5 years of the lease term.
In addition to the corporate-backed lease, Starbucks does not have the right to terminate the lease early,
which provides additional security and stability for an investor. This brand new Starbucks property is the
ideal investment opportunity for a passive investor looking for a drive-thru QSR property with a premier,
investment-grade tenant (BBB+).
The subject property on Douglas Highway (28,000 VPD) directly services the residents and the primary
trade area of Wyoming’s third largest city. This location directly benefits from the synergy created by the
national retailers surrounding the site including: Walmart Supercenter, Hobby Lobby, Harbor Freight Tools,
Albertsons, Home Depot, Boot Barn and more. This Starbucks property is also adjacent to the Interstate
90 freeway entrance/exit, which runs through the city and connects Seattle WA, Spokane WA, Bozeman
MT, Gillette WY, Sioux Falls SD, Madison WI, to eventually Chicago IL and beyond.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
2,540 SF
Building Class
C
Year Built
2024
Price
$3,083,333
Price Per SF
$1,214
Cap Rate
6%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.05 AC
Zoning
C1 - Per the city of Gillette the location is zoned as Commercial
Parking
15 Spaces (5.91 Spaces per 1,000 SF Leased)
Frontage
75 FT on Douglas Highway
Amenities
- Drive Thru
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Starbucks
- Retailer
-
99,999 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Starbucks | Retailer | 99,999 SF | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R0030708 | Improvements Assessment | $0 |
| Land Assessment | $7,521 | Total Assessment | $7,521 |
PROPERTY TAXES
Parcel Number
R0030708
Land Assessment
$7,521
Improvements Assessment
$0
Total Assessment
$7,521
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Starbucks Drive-Thru fronting Walmart | 2224 S Douglas Hwy
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