x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Starbucks, Oklahoma City, OK

Starbucks

Price $ 2,353,000
Cap Rate 5.25%
NOI $123,500
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2018
Building Size 2,278 SF
Lot Size 0.88 Acres (38,333 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

HIGH-QUALITY, INVESTMENT GRADE SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years plus four five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» No early termination
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 29,000 locations and $24.7 billion in annual revenue

HIGH-TRAFFIC LOCATION IN GROWING RETAIL CORRIDOR
» Located at the intersection of North Mustang Road and East State Highway 152, with excellent visibility and access to 39,645 vehicles per day at the intersection
» Minutes from additional well-known retailers and restaurants including Walmart Supercenter, Lowe’s, Taco Bell, Domino’s Pizza, Little Caesars, Applebee’s, Walgreens, CVS Pharmacy, Subway, Freddy’s, McDonald’s, Tractor Supply Company, Stage, and Whataburger, among many others
» Located between Will Rogers World Airport (4.34 million passengers) and southwest Oklahoma City

CENTRAL LOCATION NEAR COMMUNITY ATTRACTIONS
» One mile from SSM Health St. Anthony Healthplex (597 beds, 3,000 employees)
» Minutes away from Mustang High School (2,800+ students), Mustang Middle School (700+ students), Mustang Valley Elementary School (600+ students), and Mustang Centennial Elementary School (600+ students)
» Within five miles of eight hotels

2018 CONSTRUCTION
» Features dedicated drive-thru, providing additional customer convenience and boosting sales revenue
» New building, limiting near-term deferred maintenance or capital costs



Property Description

The property is located at the intersection of East State Highway 152 and North Mustang Road, with excellent visibility and access to 22,300 AADT along East State Highway and 17,345 AADT on North Mustang Road. The location resides in a growing retail corridor and is within walking distance of a newly constructed Walmart Supercenter-anchored shopping plaza. Other major retailers in the surrounding area include Lowe’s, Taco Bell, Domino’s Pizza, Little Caesars, Applebee’s, Whataburger, and more. Located between Will Rogers World Airport and southwest Oklahoma City, the property is easily accessible to 4.34 million annual air travelers.

The property benefits from the immediate adjacency of surrounding schools such as Mustang High School (2,800+ students), Mustang Middle School (700+ students), Mustang Valley Elementary School (600+ students), and Mustang Centennial Elementary School (600+ students). Due to its major transit hub location, the property is conveniently placed within five miles of eight different hotels. Additionally, the location is also minutes from the community’s primary health care provider, SSM Health St. Anthony Healthplex (597 beds, 3,000 employees), which completed a 10-year, $220 million expansion and renovation in 2016. Furthermore, the property is surrounded by new homes and apartments and is supported by a large customer base, with 206,228 people living within a 10-mile radius of the property.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link