Starbucks, Azle, Texas

727 Boyd Rd no-imageVIEW MAP

Property Information

Price: $2,312,727

Cap Rate: 5.50%
NOI: $127,200
Lease Term: 10 Years
Lease Type: NN
Building Size: Approximately 2,191 Square Feet
Year Built: 2022
Status: Available
Lead Broker Information:

Randy Bell


Property Description

Investment Highlights

  • New 10 Year NN Lease with No Early Termination – Stable Cash Flow Asset with Minimal Landlord Responsibilities – Four (5-Year) Options to Renew
  • 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 a Rating of “BBB+” by S&P – Over $35 Billion in Revenue in 2021 and a Market Cap of Over $97 Billion
  • Iconic Global Brand – Starbucks is the Third Largest Fast-Food Chain in the World and the Largest Coffeehouse in the World with More Than 34,300 Locations in 80 Countries
  • New Construction, Pride of Ownership Asset Featuring Starbucks’ Latest Prototype Design – a Modern and Aesthetically Pleasing Property
  • Intrinsic Value – 2,191 Square Feet Restaurant with a Patio on a 0.565-Acre Parcel with 32 Parking Spaces & a 8-Car Stack Drive-Thru, Providing Starbucks with the Ability to Effectively Handle High Customer Volume
  • High Traffic Location – More Than 25,000 Vehicles Per Day on Boyd Rd (FM-730), Over 48,000 Vehicles Per Day on TX-199 & an Additional 8,503 Vehicles Per Day on Nearby Commerce Street
  • Ideal Location with Strong Demographics – Over 38,000 People in a 5-Mile Radius with Average Household Income Exceeding $112,000
  • Strategically Positioned as a Pad to a Walmart Supercenter That Brings Daily-Needs Consumers Directly to the Trade Area – More Than 1.8 Million Visits to the Center Over the Last Calendar Year
  • Over 489,000 Square Feet of Industrial & Office Space and 1.4 Million Square Feet of Restaurant & Retail within a 5-Mile Radius of the Property, Resulting in a High Daytime Population of More Than 1,300 Businesses & 9,500 Employees
  • Tremendous Recent Growth – More Than 29% Population Growth within a 5-Mile Radius of the Property Since the 2010 Census – Continued Projected Growth by an Additional 3.33% by 2027
  • Texas is an Income Tax Free State with a Strong Economy, Providing an Ideal Location for a 1031 Exchange Asset