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Starbucks 517 3rd st

2,600 SF 100% Leased Retail Building Pembroke, NC 28372 $2,797,000 ($1,076/SF) 6.15% Cap Rate

Retail Space North Carolina Pembroke 517 3rd st, Pembroke, NC 28372

Investment Highlights

  • Attractive Lease Fundamentals
  • Close Proximity to High Growth UNC Pembroke
  • Corporate Guarantee from Credit Worthy Tenant

Executive Summary

ATTRACTIVE LEASE FUNDAMENTALS
- Corporate Guarantee from Credit Rate Tenant
- 10% rental increases every 5 years including options
- Six (6) - five (5) year options
- Minimal LL responsibilities
CORPORATE GUARANTEE FROM CREDIT WORTHY TENANT
- Starbucks has a S&P credit rating of BBB+
- Over 35,000 locations worldwide
- $30.3B Total Revenue
CLOSE PROXIMITY TO HIGH GROWTH UNC PEMBROKE
- Less than a half-mile to UNC Pembroke
- Over 7,500 students and 420+ faculty
- 8 different colleges & schools
- Since adopting the NC
- Promise Tuition Plan in 2016, enrollment has grown 32%
HIGHLY VISIBLE ON A RETAIL CORRIDOR
- Fronting W. 3rd St (15.5k VPD)
- Over 325KSF of retail space located in a 1-mile radius boasting a 0% vacancy rate
- Over 3.7K SF of retail space has been absorbed over the past 12 months
- Nearby national tenants include: Jersey Mikes, Circle K, Cook Out, McDonalds, and Burger King
NEW CONSTRUCTION
- New build-to-suit Starbucks
- Warranties will be assigned to the new owner

Attachments

Starbucks_Pembroke, NC_6.15%

Property Facts

Sale Type
Investment NNN
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,600 SF
Year Built
2024
Price
$2,797,000
Price Per SF
$1,076
Cap Rate
6.15%
NOI
$172,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.04
Lot Size
1.61 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
R
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Nearby Major Retailers

Piggly Wiggly
First Bank NC
Woodforest National Bank
Cook Out
(704) 697-1900

Contacts

  • Listing ID: 32394452

  • Date on Market: 7/9/2024

  • Last Updated:

  • Address: 517 3rd st, Pembroke, NC 28372

More public record information on 517 3rd st, Pembroke, NC 28372

The Retail Property at 517 3rd st, Pembroke, NC 28372 is currently available for sale. Contact Atlantic Capital Partners for more information.

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Starbucks | 517 3rd st
(704) 697-1900 x

Starbucks | 517 3rd st

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David Hoppe

(704) 697-1900

(704) 697-1900

Ben Olmstead

(704) 651-5953

(704) 651-5953

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