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Starbucks, Taylor, TX

Starbucks, Taylor, TX


Investment Summary

Price $2,253,000
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 8% every five (5) years, including options
Year Built 2022
Building Size Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Lot Size 0.85 acres (37,026 SF)
Status Closed
Lead Brokers 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

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

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

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

Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT-GRADE TENANT
» 10-year corporate net lease to Starbucks Corporation
» Fixed rental increases every five years in initial term and option periods, offering projected growth over a long-term investment
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks is the world’s premier coffee company, with over 35,711 locations and $32.3B in annual revenue (an 11% increase from 2021 revenue of $29.1B)
» 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
» New high-quality 2022 construction built to latest Starbucks prototype
» Site features a drive-thru and patio seating for added customer convenience

STRATEGIC AUSTIN MSA LOCATION NEAR NEW $25B SAMSUNG CHIP PLANT
» High-visibility and easily accessible location along State Route 95/North Main Street, Taylor’s primary north-south thoroughfare traversing the entirety of the city (18,978 AADT)
» Trophy location on a high-traffic corridor and near U.S. Route 79, which connects Texas to Kentucky and will allow the site to capture significant commuter traffic
» Outparcel location to Taylor Plaza, which includes Bealls, Jack in the box, Subway, Radio Shack, and many other local tenants
» 5.9 miles from a world-class Samsung Electronics Chip Plant currently under construction
» The 1,200-acre Samsung plant project is expected to cover 6 million square feet when completed and cost more than $25B in total capital investment, with an additional potential $192B in chip plant investments in the Taylor-Hutto tech corridor
» Excellent proximity to major national tenants such as Walmart Supercenter, H-E-B, McDonald’s, Taco Bell, Sonic Drive-In, Whataburger, and many more

AFFLUENT AND GROWING TEXAS CITY WITH EXCELLENT ACCESS TO AUSTIN
» Strong annual household income of $87,341 within a five-mile radius
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Taylor for steady concurrent growth
» Austin is one of the fastest growing cities for young professionals, ranked the #1 most popular destination and desirable place to live per SmartAsset
» Since January 2023, Austin added 71,000 jobs, making it the 3rd-best performing MSA in the U.S. over that time span
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

SOLD

» This Starbucks has an easily accessible location along State Route 95/North Main Street, Taylor’s primary north-south thoroughfare traversing the entirety of the city (18,978 AADT)
» The property is centrally located on a high-traffic corridor and near U.S. Route 79, which connects Texas to Kentucky and will allow the site to capture significant commuter traffic
» Ideally set in a large retail corridor, the property is a outparcel location to Taylor Plaza, which includes Bealls, Jack in the box, Subway, Radio Shack, and many other local tenants, and many more, creating significant crossover shopping
» The site greatly benefits from its proximity 5.9 miles from a world-class Samsung Electronics Chip Plant currently under construction (1,200-acres, 6 million square feet, $25B+ in total capital investment, with an additional potential $192B in chip plant investments in the Taylor-Hutto tech corridor)
» Austin is one of the fastest growing cities for young professionals, ranked the #1 most popular destination and desirable place to live per SmartAsset
» Since January 2023, Austin added over 71,000 jobs, making it the 3rd-best performing MSA in the U.S. over that time span
» Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Taylor for steady concurrent growth

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