STARBUCKS

5521 Carolina Beach Rd, Wilmington, NC 28412
$2,708,737

Cap Rate
5.15%
Year Built
2019
Leasable Area
2,510 SF
Term Remaining
±10 YRS
NOI
$139,500

Broker of Record

  • Kyle Matthews
  • License No. C27092 (NC)
  • (310) 919-5757
  • Matthews Retail Group, Inc.
  • 841 Apollo Street. Suite 150,
    El Segundo, CA 90245

BEST IN CLASS INVESTMENT GRADE CREDIT TENANT

  • Starbucks recently signed a new 10-year lease with no early termination clause
  • High-quality 2019 construction with dedicated drive-thru, outdoor patio seating, and no near term deferred maintenance
  • Fixed 10% rental increases every 5 years in both the initial term and option periods
  • Limited landlord responsibilities for roof, structure and parking lot – see broker for details
  • New 15-year manufacturer’s roof warranty to be transferred to new owner at the close of escrow
  • Lease secured by an industry-leading, investment-grade credit tenant with a “BBB+” rating by Standard and Poor’s
  • Starbucks has over 30,000 locations worldwide and saw over $24.72 billion in revenue in 2018

HIGH TRAFFICKED RETAIL CORRIDOR

  • Unmatched access and visibility to over 43,000 vehicles per day and as an outparcel to Home Depot
  • Good mix of internet resistant national retailers such as Walmart, Lowe’s, Chick Fil A, McDonald’s, Buffalo Wild Wings, Taco Bell and Burger king
  • Limited competition being the only free-standing Starbucks with drive-thru in the immediate area
  • Short distance from the signalized intersection of Piner Road and Carolina Beach Road which sees over 61,000 vehicles per day
  • Strong expected population growth of over 11% in the 1-mile radius between 2019-2024
  • Over 77,000 residents within a 5-mile radius and various residential development projects currently underway and planned for the surrounding area