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Starbucks, Levelland, TX

Starbucks

Levelland, TX

Price $2,306,000
Cap Rate 4.75%
NOI $109,500
Lease Term 10 Years
Lease Type Net, With Tenant Responsible for All Taxes and Insurance, Maintenance, Excluding Roof and Structure
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 1,950 SF
Lot Size 0.9879 Acres (43,033 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Managing Director
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

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

Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENTGRADE SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,833 locations and $29.1 billion in annual revenue
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» 10% fixed rental increases every five years in the initial term, providing a hedge against inflation

PROMINENT LOCATION NEAR STRONG TRAFFIC DRIVERS
» Located along U.S. Highway 385/College Avenue and Ninth Street with access to 13,500 vehicles per day
» Beneficial proximity to Highway 114 (12,575 AADT)
» Near several national tenants, such as Walmart Supercenter, CVS Pharmacy, AutoZone Auto Parts, McDonald’s, Burger King, KFC, Subway, and more
» Less than a mile from South Plains College (9,563 students) and Covenant Hospital Levelland (49 beds), drawing significant traffic to the site
» Minutes from well-attended schools including Levelland High School (719 students), Levelland Middle School (662 students), Levelland Intermediate School (453 students), and more
» Proximity to Holiday Inn Express & Suites (63 rooms), Best Western South Plains (47 rooms), and Best Inn Texas (38 rooms)

CENTRAL LOCATION IN TEXAS SUBURB NEAR COMMUNITY HUBS
» Situated near single family homes and apartment complexes including University Square (120 units), Rose Meadows (48 units), and University Park Apartments (45 units)
» Centrally located near county offices including the Health Department, City Hall, Sheriff’s office, and others, increasing lunchtime traffic in the area
» 16,033 residents with an average annual household income of $65,706 live within five miles
» 30 miles from Lubbock (257,141 population)

NEW 2022 CONSTRUCTION IN TAX-FREE STATE
» New building featuring dedicated drive-thru and outside patio, providing additional customer convenience and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax


Property Description

Starbucks is located along U.S. Highway 385/College Avenue (13,500 AADT) with beneficial proximity to Highway 114 (12,575 AADT). The property is near several national tenants, such as Walmart Supercenter, CVS Pharmacy, AutoZone Auto Parts, McDonald’s, Burger King, KFC, Subway, and more. The site is less than a mile from South Plains College (9,563 students) and Covenant Hospital Levelland (49 beds). The property is minutes from several well-attended schools including Levelland High School (719 students), Levelland Middle School (662 students), and Levelland Intermediate School (453 students). The site is close to Holiday Inn Express & Suites (63 rooms), Best Western South Plains (47 rooms), and Best Inn Texas (38 rooms).

The property is centrally located near county offices including the Health Department, City Hall, Sheriff’s office, and others, increasing lunchtime traffic in the area. The site is situated in an established Texas suburb near single family homes and apartment complexes including University Square (120 units), Rose Meadows (48 units), and University Park Apartments (45 units). 16,033 residents with an average annual household income of $65,706 live within five miles. The location is 30 miles from Lubbock (257,141 population) and is part of the Lubbock-Plainview-Levelland Combined Statistical Area, providing access to a larger customer base in nearby counties.

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