Starbucks, Longview, Texas

2105 Gilmer Road no-imageVIEW MAP

Property Information

Price: $2,232,142

Cap Rate: 5.60%
NOI: $125,000
Lease Term: 10 Years
Lease Type: Absolute NNN
Building Size: Approximately 2,100 Square Feet
Year Built: 2022
Status: Just Closed
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • New 10 Year Lease with No Early Termination – Stable Cash Flow Asset with Minimal Landlord Responsibilities – Four (5-Year) Options to Renew
  • Rare Self-Maintain Lease – Starbucks Handles All Day-to-Day Maintenance, Providing for a Unique, Passive Starbucks Investment
  • 10% Rent Increases Every 5 Years Throughout the Initial Term and Option Periods, Providing a Strong Hedge Against Inflation
  • Corporately Guaranteed Lease by Starbucks Corporation (NASDAQ: SBUX) with an S&P Credit Rating of BBB+ – Over $32.25 Billion in Revenue in 2022 and a Market Cap of Over $110 Billion
  • Iconic Global Brand – Starbucks is the Second Largest Fast-Food Chain in the World and the Largest Coffeehouse in the World with More Than 35,700 Locations in 84 Countries
  • New Construction, Pride of Ownership Asset Featuring Starbucks Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Double Drive-Thru Equipped with a 14 Car Stack on a Sizeable 1.01 Acre Parcel, Providing Starbucks with the Ability to Effectively Handle High Customer Volume
  • Positioned on the “AM” Side of the Street, Allowing Starbucks to Conveniently Capture Consumers on Their Morning Commute
  • High Traffic Location – More Than 20,000 Vehicles Per Day on Gilmer Rd & Over 31,000 Vehicles Per Day on W Loop 281
  • Densely Populated, Infill Location with Strong Demographics – Over 83,000 People in a 5-Mile Radius with Average Household Income Exceeding $94,500 in a 1-Mile Radius of the Property
  • Within a 5-Mile Radius of 35 Primary, Higher Education & Private Grade Schools That Have More Than 20,000 Combined Students Enrolled
  • The Nearby Walmart Supercenter Has Averaged More Than 191,000 Visits Per Month Over the Last Calendar Year
  • Over 9 Million Square Feet of Industrial & Office Space and 8 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 5,200 Businesses & 53,000 Employees
  • Approximately 4 Miles from the 224 Bed Longview Regional Medical Center with Over $2.68 Billion in Total Patient Revenue in 2021 and Employs Over 180 Physicians & 1,300 Other Healthcare Professionals
  • Great Multi-Family Density with Over 8,300 Apartment Units within a 5-Mile Radius of the Property
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset