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Wylie, TX - Starbucks
1804 N State Highway 78 | Wylie, TX 75098
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Starbucks investment property located in Wylie, Texas. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Location
The Starbucks is located near the signalized, hard-corner intersection of State Hwy 78 and Eubanks Ln. State Hwy 78 averages over 33,300 vehicles passing by daily and is a major retail thoroughfare serving the city of Wylie. The Starbucks is adjacent to a brand new Fuel City gas station/convenience store and Fuel City Car Wash. The property is located within walking distance to a 190,000+ square foot Walmart Supercenter that includes a Panda Express outparcel. The asset is ideally positioned within close proximity to Wylie East High School, which has an enrollment of over 2,500 students. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Home Depot, Tractor Supply Co, Tom Thumb, Walgreens, Chick-fil-A, McDonald’s, Chipotle, O’Reilly Auto Parts, AutoZone Auto Parts, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 113,400 residents with an average household income of $152,719.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215