Starbucks, Longview, Texas
2105 Gilmer Road
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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 bell@realcapitalinvestments.com 214-380-3670 |
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