Starbucks

Fargo, ND

Price $1,849,000
Cap Rate 5.75%
TYPE Single-Tenant
STATUS Closed
Tenant Starbucks Corp.
LEASE TYPE NN
SQUARE FEET 2,307
PRICE/SQ FT $801
YEAR BUILT 2018
LEASE EXP. 12/31/2028
LISTING AGENT Justin Zahn
480-718-5555
justin@ciadvisor.com
Jay Lerner, The Lerner Company
North Dakota Local Broker, #2129

Property Description

Starbucks has a new 10 year NN lease with attractive 10% rental escalations every 5 years and four 5-year renewal options. The tenant, Starbucks Corporation, operates more than 28,720 retail stores in 77 countries/markets.

Starbucks is located in Fargo, North Dakota on a large 1.26 acre lot just off Highway 81 on a hard corner with excellent drive-by visibility. This asset is a pad site to Walmart Supercenter and nearby retailers include: Costco Wholesale, Target, Burlington, Kohl’s, Hobby Lobby, JCPenney, Macy’s, Best Buy, The Home Depot, Lowe’s Home Improvement, Menards, Bed Bath & Beyond, T.J. Maxx, JOANN Fabrics, Shoe Carnival, Scheels, Savers, Barnes & Noble, Petco, Gordmans, Michaels, Marshalls, HomeGoods, Pier 1, Office Depot, Dollar Tree, etc. This asset is only 4 miles from Rasmussen College (793 students) , 9 miles from North Dakota State University (13,796 students), 9 miles from Concordia College (2,104), and 9 miles from Minnesota State University Moorhead (6,624 students).

*In Association with North Dakota Local Broker: Jay Lerner, The Lerner Company #2129

Property Highlights

  • Brand New 10-Year NN Lease with Attractive 10% Every 5 Years **No Early Termination Clause**
  • Sits on a Large ±1.26-Acre Lot, Just off Hwy 81 on Hard Corner Location of 52nd Ave S & 38th St S where Traffic Counts Exceeding 22,550 CPD!
  • Starbucks Corporation (NASDAQ: SBUX | S&P “BBB+ Stable” Credit Rating | Moody’s Baa1 Stable Rating) Operates More than 28,720 Retail Stores in 77 Countries/Markets
  • 2018 Demographics: Total Population (5-MI): 122,209 | Avg HH Income (1-MI): $107,067 | Explosive Population Growth 2010-2018 (1-MI): 60.92%