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Starbucks, Webb City, MO

Starbucks

Webb City, MO

Price $2,350,000
Cap Rate 5.00%
NOI $117,500
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes And Insurance, Maintenance, Excluding Roof And Structure
Rental Increases 7.5% Rental Increases Every Five (5) Years
Year Built 2022
Building Size 2,225 SF
Lot Size 0.86 Acres (37,462 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

Russell Train
Brokerage
916.403.1813
russell.train@cushwake.com
CA RE License #02087816

Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENTGRADE SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» The tenant self-maintains the property with no monthly Landlord maintenance obligations
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Landlord has 20-year roof warranty in place
» No early termination
» Low rent
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,833 locations and $29.1 billion in annual revenue

ACCESS TO OVER 24K VEHICLES IN A DENSE RETAIL CORRIDOR
» Hard corner location on the morning commute side of South Madison Street, with excellent visibility and access to 24,291 vehicles per day
» Adjacent to a Walmart Supercenter
» Three miles from Northpark Mall (1.1 million SF, 100+ tenants), a super-regional mall in Joplin with nearby tenants such as Walmart Supercenter, Wendy’s, Burger King, Sonic Drive-In, Waffle House, O’Reilly Auto Parts, AT&T, Arby’s, Taco Bell, and more, promoting crossover traffic to the site
» BEI Inc. (300 employees) and Cardinal Scale Manufacturing Company (500 employees) are within blocks of the property

PRIME LOCATION WITH ACCESS TO 67K+ PEOPLE WITHIN FIVE MILES
» 67,125 residents within a five-mile radius, establishing a large customer base for the site
» Within walking distance to 17th Place Apartment (120 units), Ellis Point Apartments (104 units), and Canyon Trails Townhomes (52 units)
» Minutes from well-attended schools and universities, including Missouri Southern State University (5,000+ students), Webb City High School (1,294 students), Webb City Junior High School (727 students), and more providing access to a nearby, ideal customer base
» 4.6 miles from Joplin Regional Airport (98,856 annual passengers), which generates over $22 million for the Joplin area economy annually

NEW 2022 CONSTRUCTION WITH DEDICATED DRIVE-THRU
» New building featuring dedicated drive-thru, providing additional customer convenience, and boosting sales revenue
» Only free-standing Starbucks store with a drive-thru in Webb City


Property Description

Starbucks is located on the hard corner of South Madison Street and 14th Street, with excellent visibility and access to 24,291 vehicles per day. This Starbucks will have an immediate and strong customer base as it is the only free-standing Starbucks store with a drive-thru in Webb City, conveniently located on the morning commute side of South Madison Street. The site is in a high-traffic retail corridor with beneficial proximity to Missouri Route 66/7th Street (21,459 AADT) and U.S. Highway 171/McArthur Drive (22,027 AADT). The property is three miles from Northpark Mall (1.1 million SF, 100+ tenants), a super-regional mall in Joplin. Additionally, the property is surrounded by tenants such as Walmart Supercenter, Wendy’s, Burger King, Sonic Drive-In, Waffle House, O’Reilly Auto Parts, AT&T, Arby’s, Taco Bell, and more, promoting crossover traffic to the site. BEI Inc. (300 employees) and Cardinal Scale Manufacturing Company (500 employees) are within blocks of the site.

The property is within walking distance to the 17th Place Apartment (120 units), Ellis Point Apartments (104 units), and Canyon Trails Townhomes (52 units). The site is minutes from well-attended schools and universities, including Missouri Southern State University (5,000+ students), Webb City High School (1,294 students), Webb City Junior High School (727 students), and many more, providing access to a nearby, ideal customer base. The location is only 4.6 miles from Joplin Regional Airport (98,856 annual passengers), which generates over $22 million for the Joplin area economy annually. 67,125 residents live within a five-mile radius, establishing a large customer base for the site. The average annual household income is $67,282 within three miles, and is projected to increase by over 15 percent in the next five years, poising Starbucks and Webb City for concurrent growth.

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