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Starbucks, Fort Wayne, IN

Starbucks

Fort Wayne, IN

Price $2,644,000
Cap Rate 5.05%
NOI $133,500
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Maintenance, And Repair, Excluding Roof (15-Year Transferable Warranty), Structure, And Parking Lot
Rental Increases 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,225 SF
Lot Size 0.92 Acres (40,075 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Russell Train
Brokerage
202.210.2379
russell.train@cushwake.com
CA RE License #02087816

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

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENTGRADE SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» Store opens November 21, 2022
» Includes new 15-year duro-last roof warranty
» 7.5% rental increases every five years
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,833 locations and $29.1 billion in annual revenue
» New 2022 construction with dedicated drive-thru for added customer convenience

LOCATED IN GROWING FORT WAYNE RETAIL CORRIDOR
» High-visibility location along U.S. Route 27/Lafayette Street (11,300 AADT), a major Fort Wayne north-south thoroughfare
» Anchored by Menards and the only Walmart Supercenter within a 20-minute drive of the site, attracting significant crossover shopping
» Surrounded by a strong mix of local and national retailers, including Menards, Kroger, ALDI, Planet Fitness, McDonald’s, and many more
» Beneficial proximity to Fort Wayne International Airport (approximately 800,000 annual passengers)

STRONG CUSTOMER BASE POISED FOR FUTURE GROWTH
» Population of 99,897 within a five-mile radius
» Projected population and income increase within 1-, 3-, and 5-mile radii over the next five years, poising Starbucks and Fort Wayne for steady concurrent growth
» Services Wayne High School (1,665 students) and other nearby area schools
» Common gateway to Downtown Fort Wayne, the second-most populous city in Indiana (263,886 population)
» Located near major Fort Wayne recreational areas and community hubs, including Donald Ross Golf Club, Orchard Ridge Country Club, and Brookwood Golf Club


Property Description

» The property is conveniently located along U.S. Route 27/Lafayette Street (11,300 AADT), a major Fort Wayne north-south thoroughfare
» The location is shadow-anchored by the only Walmart Supercenter within a 20-minute drive of the site, attracting significant crossover shopping
» This Starbucks is surrounded by a strong mix of local and national retailers, including Menards, Kroger, ALDI, Planet Fitness, McDonald’s, and many more
» The site features a beneficial proximity to Fort Wayne International Airport (approximately 800,000 annual passengers)
» The property is centrally located near large schools and major employers, including Wayne High School (1,665 students)
» The property serves as a common gateway to Downtown Fort Wayne, the second-most populous city in Indiana (263,886 population)

Contact Us About This Property


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