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, Waco, TX

Investment Summary

Price $3,000,000
Cap Rate 4.85%
NOI $145,500
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% every five (5) years, including options
Year Built 2023
Building Size 2,250 SF
Lot Size 1.305 acres (56,845 SF)
Status Available
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

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

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 the initial term
» 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

HIGH TRAFFIC LOCATION NEAR BAYLOR UNIVERSITY
» Close proximity to an ideal customer base at Baylor University, a 1,000-acre college campus with over 20,626 students and 3,253 employees – closest drive-thru Starbucks to campus
» Minutes from McLane Stadium (313,102 attendees in 2021), located on the Brazos River
» Approximately 5 Miles from 2 Major Hospitals, 302-Bed Baylor Scott & White Medical Center – Hillcrest – Waco’s 4th-Largest Employer with Staff of 2,100+ and 271-Bed Ascension Providence Hospital – Waco’s 2nd-Largest Employer with Staff of 3,075
» Convenient location in Downtown Waco near several area attractions such as Texas Ranger Museum (50,912 annual visitors),and Cameron Park Zoo (329,027 annual visitors), chosen as one of TripAdvisor’s “Top 50 Zoo” in the U.S. and is Waco’s second most visited attraction
» Excellent Access and Visibility at the Junction of I-35 and 18th St (Combined AADT of 129,338)

POPULOUS COMMUNITY POISED FOR GROWTH
» Many large hotel chains with over 1,100 guestrooms nearby
» Situated near single-family homes and within walking distance to many large apartment complexes and student housing, establishing a nearby, reliable customer base for the site
» 129,221 residents within five miles of the subject property (an 8% population growth since 2010)
» Well-Positioned in Waco MSA with an estimated Population of 280,428 in 2021
» Central location between three populous Texas cities, Dallas (1.3 million residents, the third most populous city in Texas), Fort Worth (918,915 residents), and Austin (961,885 population)

NEW 2023 CONSTRUCTION IN TAX-FREE STATE
» New building featuring dedicated drive-thru, providing additional customer convenience, and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

» Close proximity to an ideal customer base at Baylor University, a large 1,000-acre college campus with over 20,626 students and 3,253 employees
» Minutes from McLane Stadium (313,102 attendees in 2021), located on the Brazos River
» Approximately 5 Miles from 2 Major Hospitals: 302-Bed Baylor Scott & White Medical Center – Hillcrest (Waco’s 4th-Largest Employer with Staff of 2,100+) and 271-Bed Ascension Providence Hospital (Waco’s 2nd-Largest Employer with Staff of 3,075)
» Situated near single-family homes and within walking distance to many large apartment complexes and student housing, establishing a nearby, reliable customer base for the site
» The location is supported by 128,464 residents within a five-mile radius (an 8% growth since 2010)

Download OM Form

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