Starbucks | Longstanding Site 631 S Glenstone Ave 2,157 SF Retail Building Springfield, MO 65802 $2,149,000 ($996.29/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- 7+ Years Remaining on Corporate Lease with Starbucks (NASDAQ: SBUX) (Early 5 Year Lease Renewal)
- 165,372 Residents within a 5-Mile Radius in Growing Springfield Trade Area - Households and Population to Increase 2-3% in the Immediate Area
- One Mile from Missouri State University (27,000 Students) and Evangel University (2,700 Students) and Two Miles from Downtown Springfield
- Starbucks Fully Remodeled the Site in 2023
- 10% Rental Increases Every 5 Years with Multiple Renewal Options
- Frontage Along Glenstone Avenue with Nearly 39,000 Cars per Day at the Corner of Glenstone Avenue and Cherry Street
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale Starbucks in Springfield, Missouri.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,157 SF
Building Class
B
Year Built
2003
Price
$2,149,000
Price Per SF
$996.29
Cap Rate
5.60%
NOI
$120,317
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.80 AC
Parking
8.3 Spaces per 1,000 SF Leased
AMENITIES
- Drive Thru
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-19-401-034 | Improvements Assessment | $139,810 |
| Land Assessment | $61,920 | Total Assessment | $201,730 |
