Starbucks,
Fort Wayne, IN Investment Summary
| Price | $2,428,000 |
| Cap Rate | 5.50% |
| NOI | $133,500 |
| Lease Term | 10 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Maintenance, And Repair, Excluding Roof (15-Year Transferable Warranty), Structure, And Parking Lot |
| Rental Increases | 7.5% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | 2,225 SF |
| Lot Size | 0.92 Acres (40,075 SF) |
| Status | Available |
| Lead Brokers | 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 Russell Train Brokerage 202.210.2379 russell.train@cushwake.com CA RE License #02087816 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
10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENTGRADE SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» Store opens November 21, 2022
» Includes new 15-year duro-last roof warranty
» 7.5% rental increases every five years
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,833 locations and $29.1 billion in annual revenue
» New 2022 construction with dedicated drive-thru for added customer convenience
LOCATED IN GROWING FORT WAYNE RETAIL CORRIDOR
» High-visibility location along U.S. Route 27/Lafayette Street (11,300 AADT), a major Fort Wayne north-south thoroughfare
» Anchored by Menards and the only Walmart Supercenter within a 20-minute drive of the site, attracting significant crossover shopping
» Surrounded by a strong mix of local and national retailers, including Menards, Kroger, ALDI, Planet Fitness, McDonald’s, and many more
» Beneficial proximity to Fort Wayne International Airport (approximately 800,000 annual passengers)
STRONG CUSTOMER BASE POISED FOR FUTURE GROWTH
» Population of 99,897 within a five-mile radius
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising Starbucks and Fort Wayne for steady concurrent growth
» Services Wayne High School (1,665 students) and other nearby area schools
» Common gateway to Downtown Fort Wayne, the second-most populous city in Indiana (263,886 population)
» Located near major Fort Wayne recreational areas and community hubs, including Donald Ross Golf Club, Orchard Ridge Country Club, and Brookwood Golf Club
Property Description
» The property is conveniently located along U.S. Route 27/Lafayette Street (11,300 AADT), a major Fort Wayne north-south thoroughfare
» The location is shadow-anchored by the only Walmart Supercenter within a 20-minute drive of the site, attracting significant crossover shopping
» This Starbucks is surrounded by a strong mix of local and national retailers, including Menards, Kroger, ALDI, Planet Fitness, McDonald’s, and many more
» The site features a beneficial proximity to Fort Wayne International Airport (approximately 800,000 annual passengers)
» The property is centrally located near large schools and major employers, including Wayne High School (1,665 students)
» The property serves as a common gateway to Downtown Fort Wayne, the second-most populous city in Indiana (263,886 population)
