Madisonville, KY - Starbucks

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 Madisonville, KY. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with 4 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 35,000 operating locations worldwide.

Starbucks is strategically located along Island Ford Road / US Highway 41 with clear visibility and access to an average of 20,600 vehicles passing by daily. The asset also benefits from nearby access onto Interstate 69 (30,500 VPD), making it an ideal and centralized location with easy commutes for employees and customers. Starbucks is ideally situated as an outparcel to a Kroger and Lowe’s Home Improvement, providing direct crossover store exposure. The additional surrounding tenants include McDonald’s, Walgreens, Advance Auto Parts, Harbor Freight, Clark Distributing, and others. The strong tenant presence drives a loyal, local consumer base to the area and supports the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Brentwood (48 units), Wiman Gardens (52 units), Cross Creek (128 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 26,100 residents and 15,600 daytime employees. Residents within 1 mile of the asset boast a healthy average household income of $89,135.

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Listing ID: a28TP000002KsuMYAS