Investment Offering
Littleton, CO - Starbucks
10057 W. Progress Avenue | Littleton, CO 80127
$2,818,000
Price5.25%
Cap Rate$147,950
NOI2,225
± SF Offering GLA1.24
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased, corporate Starbucks investment property developed on an oversized parcel in Littleton, Colorado. The tenant, Starbucks, recently executed a brand new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features rent increases every five years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the Starbucks corporate entity and is NNN with minimal landlord responsibilities making it an ideal, management free investment opportunity. This Starbucks was designed to feature a high-capacity drive-thru which significantly increases store sales.
Location
The Starbucks is located near the signalized, hard corner intersection of South Kipling Parkway and West Belleview Ave with a combined (57,800 VPD). S. Kipling and W. Belleview are major retail thoroughfares in the immediate trade area. The new Starbucks is directly across the street from two grocery anchored centers. Kipling Marketplace is a 90,000 SF neighborhood center anchored by Safeway and Governor’s Plaza is an 88,000 SF center anchored by King Soopers. The site is apx. one mile from S. Wadsworth Way (Hwy. 121) and two large regional centers. Belleview Shores is a 455,000 SF center anchored by Lowes, American Furniture Warehouse, Michaels and HomeGoods. Southwest Commons is a 400,000 SF center with anchor tenants: Sprouts, World Market, PetsMart, Office Depot, Jo-Ann Fabric and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure for the site. The site benefits from excellent visibility via significant street frontage. The 5-mile trade area is supported by more than 235,000 residents and 60,000 with an average household income of $137,122.
Documents & Links
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 Offering Memorandum |  |  |