Starbucks | Corp NN | DriveThru | 7439 Richlands Hwy
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Starbucks | Corp NN | DriveThru 7439 Richlands Hwy
2,500 SF Retail Building Richlands, NC 28574 $2,867,000 ($1,147/SF) 6% Cap Rate
Investment Highlights
- Brand new 10-year lease with six (5-year) option periods to extend | 10% rental increases every five years throughout the initial term and options
- Strategically located along Richlands Highway, featuring 26,000 VPD | Across from Richlands High School (900+ students)
- November 2024 estimated grand opening
- Corporate entity (NASDAQ: SBUX | S&P: BBB+)
- Outparcel to new Tractor Supply and neighboring several new retailers such as Speedway, Navy Credit Union, McDonald’s, Wendy’s, Arby's, Hwy 55 Burgers
- 213,676 residents support the Jacksonville, NC MSA
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, corporate signed, Starbucks investment property located in Richlands, NC. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 6 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: SBUX | S&P: BBB+) and is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with nearly 39,000 operating locations worldwide.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,500 SF
Building Class
B
Year Built
2024
Price
$2,867,000
Price Per SF
$1,147
Cap Rate
6%
NOI
$172,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.27 AC
Zoning
C-2 - Light Commerical and Industrial Uses
Parking
32 Spaces (12.8 Spaces per 1,000 SF Leased)
Frontage
174 FT on Richlands Highway
Amenities
- Freeway Visibility
- Restaurant
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 203A-8 | Improvements Assessment | $0 |
| Land Assessment | $580,870 | Total Assessment | $580,870 |
PROPERTY TAXES
Parcel Number
203A-8
Land Assessment
$580,870
Improvements Assessment
$0
Total Assessment
$580,870
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Starbucks | Corp NN | DriveThru | 7439 Richlands Hwy
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