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Starbucks, Columbia, SC

Starbucks

Columbia, SC

Price $2,489,000
Cap Rate 4.50%
NOI $112,000
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,500 SF
Lot Size 1.21 Acres (52,708 SF)
Status Under Contract
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE TENANT
» 10-year net lease to Starbucks Corporation
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,295 locations and $23.52 billion in annual revenue
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» New 2022 construction featuring dedicated drive-thru

HIGH-TRAFFIC LOCATION IN DENSLEY POPULATED AND GROWING AREA
» Located along HardScrabble Road, with access to 26,100 vehicles per day directly in front of the property
» 108,884 residents living within five miles of the property
» 18 percent population increase within a five-mile radius of the site since 2010, demonstrating the immediate area’s recent growth
» Projected 12 percent average annual household income increase within a five-mile radius of the site in the next five years, poising Starbucks and Columbia for concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Walking distance from Rice Creek Village, a Publix-anchored shopping center featuring multiple national retailers
» 2.4 miles from Lexington Medical Center Northeast (557 beds, 7,800 employees)
» Surrounded by a strong mix of well-established local and national retailers, including Academy Sports + Outdoors, Lowe’s Home Improvement, Home Depot, McDonald’s, Wendy’s, and many more
» Located near multiple high-density, single family housing developments
» 14 miles from Downtown Columbia and University of South Carolina (34,731 students, $5 billion annual economic impact)



Property Description

This Starbucks is located along HardScrabble Road, with access to 26,100 vehicles per day directly in front of the property. Visibility to the property is increased by the site’s centralized location in a densely populated and growing retail corridor. 108,884 residents live within a five-mile radius of the property. The site has experienced an 18 percent population increase within a five-mile radius since 2010, demonstrating the immediate area’s recent growth. With a projected 12 percent average annual household income increase within a five-mile radius of the site in the next five years, Starbucks and Columbia are poised for concurrent growth.

The site benefits from its central location near large employers, retailers, and community hubs. The location is walking distance from Rice Creek Village, a Publix-anchored shopping center featuring multiple national retailers. The property is also 2.4 miles from Lexington Medical Center Northeast (557 beds, 7,800 employees), one of Columbia’s largest employers. The site is surrounded by a strong mix of well-established local and national retailers, including Academy Sports + Outdoors, Lowe’s Home Improvement, Home Depot, McDonald’s, Wendy’s, and many more. The property is located near multiple high-density, single family housing developments and is 14 miles from Downtown Columbia and University of South Carolina (34,731 students, $5 billion annual economic impact).

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