Gladewater, TX - Starbucks

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, Starbucks investment property located in Gladewater, 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 7.5% 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 NNN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located along E Broadway Ave, which averages 18,300 vehicles passing by daily and is a major retail thoroughfare serving the city of Gladewater. The Starbucks is complete with a drive-thru, providing ease and convenience for customers. Additionally, the asset is positioned west of a Brookshire’s Grocery anchored center, a 62,000 square foot shopping center with major tenants including Aaron’s home Furniture, CVS Pharmacy, and more. Furthermore, the site is located southeast of Gladewater High School, which has more than 500 students and helps draw consumers into the trade area. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Dollar General, Anytime Fitness, Family Dollar, ExxonMobil, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 17,200 with an average household income of $86,005.