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Starbucks, McComb, MS

Starbucks, McComb, MS


Investment Summary

Price $1,911,000
Cap Rate 6.15%
NOI $117,500
Lease Term 10 years
Lease Type Net lease, with tenant responsible for all taxes and maintenance, excluding roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years through initial term and 8% rental increases every five (5) years in option periods
Year Built 2023
Building Size 2,200 SF
Lot Size 0.63 acres (27,443 SF)
Status Available
Lead Brokers 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

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT-GRADE-TENANT
» 10-year corporate net lease to Starbucks Corporation
» 10% fixed rental increases every five years in initial term and 8% increases in option periods, offering projected growth over a long-term investment
» 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 high-quality 2023 construction built to latest Starbucks prototype
» Site features a drive-thru and patio seating for added customer convenience

INFILL LOCATION OUTPARCEL TO UPTOWN MCCOMB SHOPPING MALL AND NEIGHBORED BY CHICK-FIL-A
» High-visibility and easily accessible location along State Route 570/Veterans Boulevard, a major east-west McComb thoroughfare traversing the entirety of the city (12,000 AADT)
» Trophy setting with immediate access to Interstate 55, which connects to New Orleans, Louisiana and will allow the site to capture significant commuter traffic (29,000 AADT)
» Infill location outparcel to Uptown McComb, McComb’s premier shopping center featuring 236,000+ SF of retail space, six current anchor tenants, and 45 total stores
» Neighbored by a Chick-fil-A featuring a dedicated dual-lane drive-thru
» Directly adjacent to a Walmart Supercenter, allowing the site to capture significant crossover shopping opportunities
» Beneficial proximity to major national retailers such as Lowe’s Home Improvement, McDonald’s, Applebee’s Grill + Bar, Arby’s, Zaxby’s, Golden Corral Buffet & Grill, and more

DENSELY POPULATED AND GROWING MISSISSIPPI CITY WITH 48K+ RESIDENTS WITHIN FIFTEEN MILES
» 48,372 residents live within fifteen miles of the property, providing a large and stable customer base for the site
» Projected income increases within 5-, 10-, and 15-mile radii over the next five years poise Starbucks and McComb for steady concurrent growth
» One mile from Southwest Mississippi Regional Medical Center (160 beds, 742 employees)
» Common gateway to Baton Rouge and New Orleans, allowing the site to capture long-haul and commuter traffic

Property Description

» This Starbucks has a high-visibility and easily accessible location along State Route 570/Veterans Boulevard, a major east-west McComb thoroughfare traversing the entirety of the city
(12,000 AADT)

» The property is a trophy location with immediate access to Interstate 55, which connects to New Orleans, Louisiana and will allow the site to capture significant commuter traffic (29,000 AADT)
» The site is an Infill location outparcel to Uptown McComb, McComb’s premier shopping center featuring 236,000+ SF of retail space, six current anchor tenants, and 45 total stores
» Located in a burgeoning retail region, the site is neighbored by a Chick-fil-A featuring a dedicated dual-lane drive-thru and directly adjacent to a Walmart Supercenter, allowing the site to capture significant crossover shopping opportunities
» The location greatly benefits from its proximity one mile from Southwest Mississippi Regional Medical Center, which features 160 beds and 742 employees
» 48,372 residents live within a fifteen-mile radius of the site, providing a large and reliable customer base

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