Camillus, NY - Starbucks

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an Absolute NNN, corporate signed, drive-thru equipped Starbucks investment property located in Camillus, New York. The tenant has more than 9 years remaining on its current lease, with 5 (5-year) options to extend. Starbucks assumed the lease in 2017. The lease features 10% increases every 5 years throughout the base term and at the beginning of each option, growing NOI and hedging against inflation. The tenant is responsible for taxes, insurance, and property maintenance, and the landlord has zero responsibilities. That makes this an ideal, passive, management-free ground lease investment.

The subject property is strategically positioned next to the signalized hard corner of W Genesee Street and Onondaga Road. Approximately 13,200 vehicles pass the site daily on W Genesee Street. The site is also near Route 5 (39,800 VPD) and I-695 (53,300 VPD), which connect it to greater Syracuse. The property benefits from excellent visibility and multiple points of ingress and egress. Its drive-thru serves commuter and convenience-driven customers.

The property is across from Fairmount Fair, a Target-anchored shopping center that also features Marshalls, Old Navy, HomeGoods, and Michaels. The surrounding trade area is home to national tenants including Wegmans, Home Depot, Costco, Walmart, Lowe’s, and Staples, which drive consistent consumer traffic. The site is next to Chipotle and Sunoco Service Station. It also benefits from quick-service synergy with Dunkin’, Five Guys, Taco Bell, and Chili’s.

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Listing ID: a28TP000003g3arYAA