Starbucks

Ankeny, IA

Price $2,509,000
Cap Rate 5.35%
TYPE Single-Tenant
STATUS Available
Tenant Starbucks Corp.
LEASE TYPE NN
SQUARE FEET 2,307
PRICE/SQ FT $1,087
YEAR BUILT 2018
LEASE EXP. 2028
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

Starbucks has a brand new 10 year NN corporate lease with attractive 10% rental escalations every 5 years! The tenant, Starbucks Corporation, operates more than 25,730 locations in approximately 75 countries. Starbucks has an A-Stable credit rating on S&P and an A3 Stable rating on Moody’s. This property has brand new construction with expected construction completion on March 1st, 2018.

Starbucks is located in Ankeny, Iowa, with high drive-by visibility just off the hard corner. The property is in an infill location within 2 miles of 2 miles of Des Moines Area Community College (Over 15,000 Students), John Deere Manufacturing Plant, Ankeny High School, etc. This area has had tremendous population growth of 25.70% in a 3 mile ring! Iowa also has a low unemployment rate of 2.9% compared to the national average of 4.1% (Nov 2017).

*In Association With: The Lerner Company

Property Highlights

  • Brand New 10 Year NN Lease with Attractive 10% Rental Escalations Every 5 Years!
  • High Drive-by Visibility on N Ankeny Blvd (Main North/South Thoroughfare), Just Off the Hard Corner with Traffic Counts Exceeding 21,930 CPD!
  • Demographics (5-MI): Total Population: 65,587 | Avg HH Income: $93,557 | POPULATION GROWTH 2010-2017 (3-MI): 25.70%
  • Tenant: Starbucks Corporation Operates More than 25,730 Locations in Approx. 75 Countries (NASDAQ: SBUX | S&P “A- Stable” Credit Rating | Moody’s A3 Stable Rating)
  • Brand New Construction in an Infill Location within 2 Miles of Des Moines Area Community College (Over 15,000 Students), John Deere Manufacturing Plant, Ankeny High School, etc.
  • Low Unemployment Rate: Iowa’s Rate at 2.9% - National Rate at 4.1% (Nov 2017)