CANOPY COMMERCIAL | AUCTION LISTS $1.17 MILLION INVESTMENT PROPERTY FOR SALE
Single Tenant Investment Property Leased to Starbucks Coffee, Inc.; 8.0% CAP Rate
Anchor Tenant: Starbucks is the world’s #1 specialty coffee retailer. They operate over 17,000 stores in 49 countries. Starbucks generates strong cash flow and have solid liquidity. As of Q3 of 2009, Starbucks reported a sales volume of 7.3 billion for the year. Starbucks is the most recognized and respected coffee brand in the world.
Area Description: Texas City, TX is located in Galveston County just miles from the shores of the Gulf of Mexico. The subject property is in immediate proximity to Lowe’s Home Improvement Center and Kroger Grocery Store. British Petroleum (BP), one of the world’s largest energy companies, has offices directly across the street. Strategically located on the main artery that passes through the heart of the city, this site is also surrounded by restaurants and retailers such as McDonalds, Walgreens, Advanced Auto Parts and Spint among others.
Property Description: This single tenant, NNN leased Starbucks Coffee offers investors the security of a corporate guaranty and an average CAP rate of 8.40% during the 10-year intitial lease term. The single tenant building was built in 2008 and measures 1,733 SF and is situated on approximately .45 acres. The store benefits from its location at the busy intersection of Palmer Highway and Highway 146, directly across the street from British Petroleum (BP) offices and a Kroger grocery store.Jason Little, CCIM (405) 445-5550 William Lightfoot (918) 459-4585 Bruce Ripper (713) 425-8099