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Starbucks, Wagoner, OK (Tulsa MSA)

Starbucks, Wagoner, OK (Tulsa MSA)


Investment Summary

Price $2,050,000
Cap Rate 6.10%
NOI $125,000
Lease Term 10 years
Lease Type Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure
Rental Increases 7.5% rental increases every five (5) years
Year Built 2024
Building Size 2,020 SF
Lot Size 1.46 acres (20,038 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

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

NEW 10-YEAR CORPORATE NET LEASE TO THE LARGEST COFFEEHOUSE COMPANY IN THE WORLD
» 10-year corporate net lease to Starbucks Corporation (NASDAQ: “SBUX”)
» 7.5% rental increases every five years
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation is the world’s premier coffee company, with over 38,000 locations worldwide and $36B in annual revenue
» 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-VISIBILITY LOCATION ADJACENT TO HOSPITAL
» Strategically located along U.S. Route 69 / Blake Drive with direct visibility access to more than 26,100 vehicles per day directly in front of the property
» Adjacent to Wagoner Community Hospital, a 100-bed medical facility with a wide range of services including a 32-bed mental health unit, outpatient counseling for seniors, interventional pain management, sleep services laboratory, inpatient/outpatient general surgery, and a 24-hour emergency room
» This new Starbucks is located near strong local traffic drivers including Walmart Supercenter, Tractor Supply, McDonald’s, Arby’s, Sonic, QuikTrip, and many others

ONLY STARBUCKS LOCATION IN WAGONER
» This is the only Starbucks within approximately 14 miles (20 minute drive) and will be a welcome new amenity to the surrounding area
» 36,098 residents living within 5 miles of the site, establishing a stable customer base for the site
» Located less than three miles from Wagoner High School, Wagoner Junior High School, and William R. Teague Elementary School (combined enrollment count of 1,500+ students)

NEW 2024 CONSTRUCTION WITH DUAL DRIVE-THRU
» New high-quality 2024 construction built to Starbucks’ latest prototype
» The site features a dual lane drive-thru for added customer convenience

Property Description

» High-Visibility Location: This Starbucks is positioned along U.S. Route 69 / Blake Drive with access to more than 26,100 vehicles per day directly in front of the property
» Adjacent to A Major Hospital: This site is directly adjacent to Wagoner Community Hospital, a 100-bed medical facility with a wide range of services including a 32-bed mental health unit, outpatient counseling for seniors, interventional pain management, sleep services laboratory, inpatient/outpatient general surgery, and a 24-hour emergency room
» Exclusive Location: This is the only Starbucks within approximately 14 miles (20 minute drive) and will be a welcome new amenity to the surrounding area
» Beneficial Proximity to Schools: Located less than three miles from Wagoner High School, Wagoner Junior High School, and William R. Teague Elementary School (combined enrollment count of 1,500+ students)
» Surrounded by Major National Retailers: This new Starbucks is located near strong local traffic drivers including Walmart Supercenter, Tractor Supply, McDonald’s, Arby’s, Sonic, QuikTrip, and many others
» Stable Customer Base: 36,098 residents live within 5 miles of the site, creating a stable customer base for the site
» New 2024 Construction: The property is a new, high-quality 2024 construction built to Starbucks’ latest prototype and featuring a dual lane drive-thru for added customer convenience

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