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Richlands, NC - Starbucks
7439 Richlands Highway | Richlands, NC 28574
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, corporate signed, Starbucks investment property located in Richlands, NC. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 6 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: SBUX | S&P: BBB+) and is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with nearly 39,000 operating locations worldwide.
Location
Starbucks is strategically located along Richlands Highway with clear visibility and access to an average of 26,000 vehicles passing by daily. Richlands Highway serves as the town’s primary corridor, making it a centralized location with easy commutes. The surrounding national/credit tenants include Food Lion, Walmart Supercenter, Tractor Supply Co., Dunkin’, Piggly Wiggly, McDonald’s, and others. The dense trade area drives a steady stream of loyal, local consumers, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes, providing a direct residential consumer base. The 5-mile trade area is supported by over 20,900 residents and 2,400 daytime employees, with a healthy average household income of $88,145.