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Starbucks, Grayson, GA

Investment Summary

Price $3,460,870
Cap Rate
NOI
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 in option periods
Year Built 2023
Building Size 2,500 SF
Lot Size 0.912 acres (39,727 SF)
Status Closed
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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 CORPORATE NET LEASE TO THE LARGEST COFFEEHOUSE COMPANY IN THE WORLD
» New 10-year corporate net lease to Starbucks Corporation
» Extremely rare “self-maintain” lease, providing a true passive Starbucks investment
» 10% fixed rental increases every five years in option periods
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company with over 35,711 locations and $32.3 billion in annual revenue (11% increase from 2021 revenue of $29.1 billion)
» 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

TROPHY LOCATION ALONG A RAPIDLY DEVELOPING MAJOR GEORGIA RETAIL CORRIDOR
» High-visibility location along State Route 20/Grayson Highway (31,799 AADT)
» Trophy location connecting Interstate 85 to U.S. Route 78, allowing the site to capture significant commuter traffic (combined 135,900 AADT)
» Located within Clark Lake Village, a new single-family residential community featuring grocery stores and retailers currently under construction (136 homes, 35.60 acres)
» Excellent proximity to major national tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Sam’s Club, Academy Sports + Outdoors, Best Buy, Chick-fil-A, Whataburger and many more

DENSELY POPULATED AND GROWING GEORGIA SUBURB WITH IDEAL DEMOGRAPHICS
» 174,344 residents live within five miles of the property (25% increase since 2010)
» Exceptional average annual household income of $140,450 within one mile of the site
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Grayson for steady concurrent growth
» Centrally located between Atlanta and Athens, allowing the site to capture a consistent stream of commuter traffic throughout operating hours

NEW 2023 CONSTRUCTION BUILT TO LATEST PROTOTYPE
» New high-quality 2023 construction built to latest Starbucks prototype
» Site features a drive-thru, multiple access points, and exceptional parking with 34 total spaces for added customer convenience

Property Description

SOLD

» This Starbucks has a high-visibility location along State Route 20/Grayson Highway (31,799 AADT)
» The property is a trophy location connecting Interstate 85 to U.S. Route 78, allowing the site to capture significant commuter traffic (combined 135,900 AADT)
» The site is uniquely positioned within Clark Lake Village, a new single-family residential community featuring grocery stores and retailers currently under construction (136 homes, 35.60 acres)
» Ideally set in a large retail corridor, the property is surrounded by notable tenants such as Walmart Supercenter, Target, The Home Depot, Lowe’s Home Improvement, Sam’s Club, Whataburger, Academy Sports + Outdoors, Best Buy, Chick-fil-A, and many more, creating significant crossover shopping
» The site greatly benefits from its affluent customer base, with an average annual household income of $140,450 within one mile of the property
» 174,344 residents live within a five-mile radius of the site (25% increase since 2010), providing an extremely large and reliable customer base
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Grayson for steady concurrent growth

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