DEALS

Deals

Starbucks – Chattanooga, TN

THE OPPORTUNITY

  • Investment Grade Tenant
  • New construction
  • Starbucks Credit Rating: Baa1 by Moody’s
  • NASDAQ: SBUX
  • No Termination Clause
  • 4, Five Year Options
  • 10% rental increases in each option
  • NN Lease
  • Landlord Responsible for roof and structure
  • Starbucks is the world’s largest coffee shop chain

THE HIGHLIGHTS

  • The property is located at the base of Signal Mountain, TN
  • Strategically located: Outflanks competition as the first coffee shop passed when traveling off Signal Mountain into Chattanooga
  • Located on the AM side of the road
  • Signalized intersection
  • Outparcel to 100% occupied Food City anchored shopping center owned by Food City
  • Strong Demographics in Signal Mountain, TN:
  • Median Household Income: $130,997 
  • Strong Traffic Counts:
  • Signal Mountain Rd: 22,406 cars daily
  • Mountain Creek Rd: 13,804 cars daily

THE DEAL POINTS

  • Square Feet: 4,000 SF
  • Asking Cap Rate: 5.125%
  • Asking Price: 1,844,000
  • Year Built: 2020
  • Occupancy: 100%

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