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

x

Contact Us

x

Phone: 916-403-1812

Email: McKenney.Houck@cushwake.com

Or contact us using the form below.


Starbucks, Forsyth, IL

Starbucks, Forsyth, IL


Investment Summary

Price $1,966,000
Cap Rate 6.00%
NOI $117,925
Lease Term 10 years
Lease Type Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Rental Increases 8% rental increases every five (5) years
Year Built 2024
Building Size 2,225 SF
Lot Size 0.83 acres (36,155 SF)
Status Available
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Investment Highlights

NEW 10-YEAR NET LEASE TO INVESTMENT-GRADE TENANT
» New 10-year corporate net lease to Starbucks Corporation (NASDAQ: “SBUX”)
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» 8% rental increases every five (5) years in initial term and option periods
» No termination option, allowing the tenant to maintain ideal flexibility over the course of the lease
» Starbucks is the world’s premier coffee company, with over 38,038 locations and $35.9 billion in annual revenue
» Per Statista, customers go to Starbucks six times per week on average
» Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily

OUTPARCEL TO LOWE’S AND STAPLES-ANCHORED CENTER ALONG MAJOR RETAIL CORRIDOR
» High-visibility and easily accessible location just off U.S. Highway 51, with access to 24,600 vehicles per day directly in front of the site
» Surrounded by national brand retail tenants including Kohl’s, Ross Dress for Less, Ulta, Hobby Lobby, T.J. Maxx, Buffalo Wild Wings, Texas Roadhouse, Applebee’s, Taco Bell, Best Buy, PetSmart, Dollar Tree, and many others
» Across the street from the Hickory Point Mall, a 826,347 square foot mall anchored by Kohl’s, Von Maur, T.J. Maxx, Hobby Lobby, Ulta Beauty and Ross Dress for Less, positioning the site to capture significant crossover buyer activity
» Beneficial proximity to Interstate 72, a major interstate connecting Decatur with Champaign and Springfield, positioning the site to capture significant commuter and long-haul traffic.
» Adjacent to a new construction Five Below (also available)

CENTRAL LOCATION IN AFFLUENT COMMUNITY | AAHI OF $137,671 WITHIN ONE MILE
» 7,470 people work within a five-mile radius, establishing a stable customer base for the property
» High average annual household income of $137,671 within one mile of the site (projected 17% increase by 2028)
» Centrally located near many Forsyth and Decatur schools and community hubs, including Hickory Point Mall, Hickory Point Golf Course, Forsyth Park, Millikin University (1,800 students), Stephen Decatur Middle School (779 students), and many others
» Gateway to Downtown Decatur, the largest city in and the county seat of Macon County
» Surrounded by affluent single-family neighborhoods

NEW 2024 CONSTRUCTION BUILT TO LATEST PROTOTYPE
» New high-quality 2024 construction built to the latest Starbucks prototype, featuring a 20-year roof warranty and rare 105’ pylon sign
» Site features a dedicated drive-thru for added customer convenience

Property Description

» This Starbucks is a high-visibility and easily accessible location just off U.S. Hwy 51, with access to 24,600 vehicles per day directly in front of the site
» With its strategic placement and access to prominent attractions, this Starbucks is surrounded by national brand retail tenants including Lowe’s, Kohl’s Ross Dress for Less, Ulta, Hobby Lobby, T.J. Maxx, Buffalo Wild Wings, Texas Roadhouse, Applebee’s, Taco Bell, Best Buy, PetSmart, Dollar Tree and many others
» The site is across the street from the Hickory Point Mall, a 826,347 square foot mall anchored by Kohl’s, Von Maur, TJ Maxx, Hobby Lobby, Ulta Beauty and Ross Dress for Less, positioning the site to capture significant crossover buyer activity
» The surrounding area is home to many community hubs that will drive traffic to Starbucks such as Hickory Point Golf Course, Forsyth Park, Millikin University (1,800 students), Stephen Decatur Middle School (779 Students) and many others
» The property serves as a Gateway to Downtown Decatur, the largest city in and the county seat of Macon County
» An excellent average annual household income of $135,470 within one mile of the site provides an extremely affluent immediate customer base

Download OM Form

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