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%