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Starbucks, San Antonio, TX

Starbucks, San Antonio, TX


Investment Summary

Price $2,555,000
Cap Rate 5.50%
NOI $140,500
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure
Rental Increases 10% rental increases every five (5) years
Year Built 2023
Building Size 2,016 SF
Lot Size .96 acres (41,922 SF)
Status Available
Lead Brokers Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

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

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

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

Investment Highlights

NEW NET CORPORATE LEASE TO THE LARGEST COFFEEHOUSE COMPANY IN THE WORLD
» New corporate net lease to Starbucks Corporation with rare self-maintain lease language: Tenant responsible for all ongoing maintenance directly
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with 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
» High-quality 2023 construction featuring a dedicated drive-thru lane, providing additional customer convenience, and boosting sales revenue
» Texas has no state income tax

DENSE RETAIL LOCATION NEXT TO A BUSY TRANSPORTATION CORRIDOR WITH ACCESS TO OVER 232K DAILY VEHICLES
» Prominent location along Lookout Road (11,995 AADT) with freeway visibility along East Charles William Anderson Loop (107,793 AADT) and access to an additional 232,237 vehicles per day along Interstate 35
» Well-positioned near premier shopping destinations such as The Forum at Olympia Parkway- Selma, Texas (70+ stores, 2 million SF retail space) and Rolling Oaks Mall (100+ stores, over 1 million SF of retail space), promoting cross-over traffic
» Minutes from Methodist Hospital NE (374 beds), Northeast Lakeview College (6,704 students), and Veterans Memorial High School (1,321 students)
» Situated within walking distance from Loretto at Creekside (320 units), Brio at Lookout (293 units), and Mira Loma (378 units) apartments and less than a mile from Citadel at Lookout (303 units), providing access to a nearby consistent customer base
» Seven miles from JBSA Randolph one of the largest employers in the San Antonio area, with over 17,000 military and civilian personnel

GATEWAY TO SAN ANTONIO AND PART OF THE THIRD-LARGEST METRO IN TEXAS
» Five-mile population of 199,076 (a 17% growth since 2010) with an average annual household income of $94,755 within one mile (projected to increase 16% by 2027)
» Gateway to San Antonio (1.41 million residents), the second largest city in Texas and part of San Antonio MSA, home to 2.6 million people and experiencing robust growth
» San Antonio acts as a regional hub for business, health care, and shopping, with an influence that reaches north to Austin (one hour), as far south as Corpus Christi (three hours), and is a major gateway between the U.S. and Mexico

Property Description

» Prime Location with Excellent Highway Visibility: Starbucks is situated in a prominent location along Lookout Road, with freeway visibility along East Charles William Anderson Loop, and access to an additional 232,237 vehicles per day along Interstate 35.
» Convenient Location Near Premier Shopping Destinations: Positioned near popular shopping destinations like The Forum at Olympia Parkway and Rolling Oaks Mall, this property is perfectly situated to attract cross-over traffic.
» Near Large Education Institutions: With Northeast Lakeview College, Veterans Memorial High School, and John H. Wood Middle School just minutes away, this location benefits from access to students, and faculty.
» Access to a Consistent Customer Base: Within walking distance from multiple apartment complexes with nearly 1,300 units which provide easy access to a nearby consistent customer base.
» Proximity to Major Employers and Area Attractions: This location is just minutes from Methodist Hospital NE (374 beds) and Morgan’s Wonderland and is located seven miles from JBSA Randolph, one of the largest employers in the area with over 17,000 military and civilian personnel.
» Growing Population and Income Levels: With a five-mile population of 199,076 (a 17% growth since 2010) and an average annual household income of $94,755 within a one-mile radius (projected to increase 16% by 2027), this location is poised for continued growth.
» Gateway to a Booming Region: As the gateway to San Antonio and the wider San Antonio MSA, this property benefits from the region’s robust growth and its influence that reaches north to Austin and as far south as Corpus Christi. It is also a major gateway between the U.S. and Mexico, making it an attractive location for businesses and consumers alike.

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