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E 802 US-90 W
Dayton, TX 77535

Drive-Thru Starbucks in Dayton, TX · Retail Property For Sale

Investment Highlights

  • SIgnalized Location Along Area’s Main Retail and Traffic Corridor: excellent exposure at the intersection of US-Highway 90 and State Highway 146.
  • Limited Competition: The subject property is the only Starbucks within 15 miles in any direction.
  • Extremely Rare “Self-Maintain” Lease: Starbucks maintains landscaping and parking lot, including sweeping, sealing, and restriping.
  • Excellent ingress and egress along both traffic corridors: Starbucks benefits from its location at the signalized intersection.
  • Starbucks Corporation signed a new 10-year lease with no early termination clause, which is scheduled to commence in August 2023.
  • Attractive Rent Increases: Lease features 10% rent increases every 5 years in the primary term and options, providing a hedge against inflation.

Executive Summary

The subject property is a 2,000 SF Starbucks featuring a dedicated drive-thru and patio seating. Located in Dayton, Texas.
Starbucks Corporation signed a 10-year lease scheduled to commence in August of 2023. The lease features extremely attractive 10% rent increases every 5 years throughout the primary term, and between each of the four, five-year renewal options. Starbucks, which is publicly traded on the New York Stock Exchange under the ticker symbol “SBUX”, has a current “BBB+” credit rating from Standard & Poor’s and boasted annual revenues in excess of $32.9 billion in 2022.
Located 30 miles east of downtown Houston, the subject property is ideally positioned at the junction of State Highway 146 and US Highway 90. US-90, which is a major east-west highway, connects Dayton to the Houston metropolitan area. Starbucks benefits from its location at a signalized intersection with combined daily traffic counts in excess of 31,653 vehicles. The prominent location at the traffic signal provides excellent ingress and egress allowing commuters easy access from all traffic patterns.
The city once known as the hub of transportation due to the convergence of 4 highways is seeing an economic boom. Over 27,000 new residents are projected to call Dayton home in the coming years. River Ranch, which is just minutes south of the subject property, is a 7,000-acre master-planned development bringing upwards of 14,000 homes and retail to the area. Phase I, known as River Ranch Meadows, is currently underway by DR. Horton and will consist of 2,600 homes, and 135 acres of commercial. Other master-planned communities and neighborhoods are being planned which will include waterfront dining, beach club, shopping, schools and recreation.
Along with the new housing developments, the addition of Gulf Inland Logistics Park will have vast ripple effect on the community by attracting new business and investment to the region, which will increase economic activity and stimulate growth. Upon completion, the world-class industrial park will include over 10 million square feet (msf) industrial, office and commercial buildings bringing more than 5,000 jobs to Dayton. Starbucks is penetrating the Dayton market at the forefront of enormous economic growth, which will no doubt contribute to the store’s success and longevity.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,100 SF
Year Built
2023
Price
$2,495,000
Price Per SF
$1,188
Cap Rate
5.25%
NOI
$131,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.82 AC
Parking
35 Spaces (16.67 Spaces per 1,000 SF Leased)

Amenities

  • Freeway Visibility
  • Restaurant
  • Drive Thru
  • Air Conditioning
  • Listing ID: 28453987

  • Date on Market: 5/10/2023

  • Last Updated:

  • Address: E 802 US-90 W, Dayton, TX 77535

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