Starbucks - Recent 10 Year Renewal
For sale to qualified investors is the fee-simple interest in a recent long-term extension, freestanding Starbucks with drive-thru in Cincinnati, Ohio. Starbucks has been a tenant at this location since 2007 and recently showed their commitment to this location by extending their lease, with no early termination clause. This lease signed by Starbucks Corporation (S&P “A-”), provides roughly 9 years of corporately guaranteed income from one of the most stable and credit-worthy restaurant corporations in the world. This investment is being offered at an attractive 5.65% cap rate with a corresponding price of $1,419,430. The passive nature of this lease combined with the corporate guaranty make this an ideal 1031 replacement property or acquisition for an investor desiring a passive real estate investment.There are approximately 73,227 people within a three mile radius, with average incomes of $65,503. This highway accessible retail site is situated off I-275 with over 107,573 vehicles per day and shadowed anchored by Walmart. A few of the nearby retailers include Walmart, Kroger, Meijer, Home Depot, CarMax, Aldi, Cracker Barrel, Panera Bread, Red Lobster, Bass Pro Shops, Chipotle, Bob Evans, McDonald’s,Steak ’n Shake, IHOP, Burger King, Taco Bell, KFC, Wendy’s, PNC Bank, Dollar Tree, Sims Furniture and many more.