STARBUCK’S – WAVERLY, IA

Waverly, IA

Price $2,608,000
Cap Rate 6.50%
TYPE Single-Tenant
STATUS Available
Tenant Starbucks Corporation
LEASE TYPE NN
SQUARE FEET 2,540
YEAR BUILT August 2024
LEASE EXP. August 31, 2036
CONTACT Justin Zahn
480-718-5555
[email protected]

Property Description

Starbucks has a Brand new 12-year Corp lease (NO EARLY TERMINATION) to Starbucks Corporation with attractive 7.50% rental escalation in the beginning of the 7th lease year! The Tenant, Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Credit Rating | Moody’s Baa1 Rating) operated over 38,000 locations worldwide. It is a Brand new, build-to-suit construction to Starbucks newest prototype – slated to open August 2024 (est.)

The Asset is Well-positioned in the dominant retail corridor, across the street from a Hy-Vee/True Value Shopping Center (blocks from Walmart) with excellent drive-by visibility/ access on 13th Ave SW (main north/south thoroughfare) with traffic counts of 19,849 CPD! Starbucks is Across the street from Village Square Shopping Center anchored by Hy-Vee Grocery Store & True Value – Major retailers in Waverly include Walmart, Fareway Meat & Grocery, Dollar Tree, Goodwill, Norby’s Farm Fleet, O’Reilly Auto Parts; Dining options include McDonald’s, Burger King, Taco Bell, Taco John’s, Dairy Queen, Jimmy John’s, Subway, Pizza Ranch, Applebee’s; Accommodations include Super 8, Quality Inn, and Cobblestone Inn & Suites. It is 2 miles from Wartburg College – a student-centered community college offering more than 60 areas of study in the liberal arts and in professional areas serving 1,472 students; 1.5 miles from Waverly Health Center – a comprehensive healthcare provider offering a wide range of services, including primary care, specialty care and surgery, with 50 staffed beds.

Property Highlights

  • Brand new 12-year NN* lease to Starbucks Corporation with attractive 7.50% rental
    escalation in the beginning of the 7th lease year!
  • Brand new, build-to-suit construction to Starbucks newest prototype - slated to open August 2024 (est.)
  • Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Credit Rating | Moody’s Baa1 Rating) operated over 38,000 locations worldwide
  • Well-positioned in the dominant retail corridor, across the street from a Hy-Vee/True Value Shopping Center (blocks from Walmart) with excellent drive-by visibility/ access on 13th Ave SW (main north/south thoroughfare) with traffic counts of 19,849 CPD!