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Starbucks, Columbia, SC

Starbucks

Columbia, SC

Price $2,422,000
Cap Rate 4.75%
NOI $115,000
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot Replacement.
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2020
Building Size 2,500 SF
Lot Size 0.92 Acres (40,075 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Leased to Starbucks Corporation for 10 years, plus six (6) five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 32,600 locations and $29 billion in annual revenue

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING AFFLUENT AREA
» Excellent visibility and access to 11,600 vehicles per day directly in front of the property
» High traffic location with immediate access to Interstate 26 (121,900 AADT)
» Densely populated with 108,662 residents living within five miles of the property
» Affluent community with an average annual household income of $77,013 within a five-mile radius of the location
» Projected 11 percent average household income increase within five miles of the site in the next five years, poising Starbucks and Columbia for significant growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Centrally located near major Columbia employers, including Lexington Medical Center and Prisma Health (combined 7,600 employees)
» Shadow-anchored by Costco Wholesale and surrounded by a strong mix of well established local and national retailers, including Walmart Supercenter, Sam’s Club, Academy Sports + Outdoors, Lowe’s Home Improvement, Home Depot, Target, T.J. Maxx, PetSmart, McDonald’s, and many more
» Gateway to the Harbison Community Center and numerous nearby tourist attractions, including Frankie’s Fun Park, Harbison National Forest, and Sumter National Forest
» Beneficial proximity to several multi-family developments and shopping centers, promoting increased traffic to the area
» 8.6 miles from Downtown Columbia



Property Description

The property is situated in an easily accessible location along Piney Grove Road, with access to 11,600 vehicles per day. The site benefits from its location right off of Interstate 26, which experiences a high traffic count of 121,900 vehicles per day. Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. 108,662 residents live within a five-mile radius of the property with an average household income of $77,013. With a projected 11 percent average household income increase within five miles of the site in the next five years, Starbucks and Columbia are poised for significant concurrent growth.

The property is centrally located near major Columbia employers, including Lexington Medical Center and Prisma Health, which feature a combined 7,600 employees. The property is shadow-anchored by a Costco Warehouse and is surrounded by a strong mix of well-established local and national retailers, including Walmart Supercenter, Sam’s Club, Academy Sports + Outdoors, Lowe’s Home Improvement, Home Depot, Target, T.J. Maxx, PetSmart, McDonald’s and many more. The property is located near major area attractions such as Frankie’s Fun Park, Harbison National Forest, and Sumter National Forest. Interstate 26 provides immediate access to surrounding areas including Downtown Columbia located 8.6 miles from the site. The location also benefits from its proximity to several multi-family developments and shopping centers, promoting increased traffic to the area.

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