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, Milford, OH

Investment Summary

Price $1,800,000
Cap Rate
NOI
Lease Term 10 Years, With 6+ Years Remaining
Lease Type Net, With Tenant Responsible For All Taxes And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2016
Building Size 2,107 SF
Lot Size 0.82 Acres (35,718 SF)
Status Sold
Lead Brokers Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus four (4) five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,295 locations and $23.52 billion in annual revenue
» 2016 construction with drive-thru for added customer convenience

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, AFFLUENT, AND GROWING AREA
» Excellent visibility and access to 31,148 vehicles per day directly in front of the property along State Route 28
» High-traffic location with beneficial proximity to major Milford thoroughfares, including
Wolfpen Pleasant Hill Road and Interstate 275 (combined 100,437 AADT)
» Densely populated area with 75,090 residents living within five miles of the property
» Extremely affluent community with an average household income of $120,748 within a five-mile radius of the location
» Projected 13 percent average annual household income increase within a one-mile radius of the site in the next five years, poising Starbucks and Milford for significant concurrent growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Outparcel to a Meijer-anchored shopping center and immediately surrounded by a dense retail corridor
» Surrounded by a strong mix of well-established local and national retailers, including The Home Depot, Lowe’s, Kroger, Tractor Supply Co., Kohl’s, Planet Fitness, Wendy’s, White Castle, McDonald’s, Sonic Drive-In, and many more
» Nearest Starbucks to Milford High School and Milford Junior High School (combined 2,992 students), greatly increasing traffic to the location
» Beneficial proximity to several multi-family developments and shopping centers promoting increased traffic to the area

Property Description

SOLD
The property is situated in an easily accessible location along State Route 28, one of Milford’s main thoroughfares, with access to 31,148 vehicles per day directly in front of the property. This high-traffic location also features a beneficial proximity to surrounding major Milford thoroughfares, including Wolfpen Pleasant Hill Road and Interstate 275 (combined 100,437 AADT). Visibility to the property is increased by the site’s centralized location in a densely populated, affluent, and growing retail corridor. 75,090 residents live within a five-mile radius of the property with an extremely high average household income of $120,748. The location is poised for significant future growth as well, with a projected 13 percent average annual household income increase within a one-mile radius of the site in the next five years.

The property is outparcel to a Meijer-anchored shopping center and immediately surrounded by a dense retail corridor. The location is surrounded by a strong mix of well-established local and national retailers, including The Home Depot, Lowe’s, Kroger, Tractor Supply Co., Kohl’s, Planet Fitness, Wendy’s, White Castle, McDonald’s, Sonic Drive-In, and many more. The property serves as the nearest Starbucks to Milford High School and Milford Junior High School (combined 2,992 students), greatly increasing traffic to the location. The site benefits from its proximity to several multi-family developments and shopping centers, promoting increased traffic to the area. The site is also a common gateway to Downtown Cincinnati, Ohio’s largest metropolitan area (population 309,317).

Download OM Form

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