Seminole, OK - Starbucks

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, Starbucks investment property located in Seminole, Oaklahoma. The tenant, Starbucks, recently signed signed a rare, 12-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases at the beginning of Year 7 and each option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Starbucks is located near the signalized, hard corner intersection of W. Wrangler Blvd./State Highway 9 and State Highway 99, combining to average over 27,600 vehicles passing by daily. State Highway 99, is the major retail thoroughfare serving the city of Seminole. The Starbucks is located adjacent to a Braum’s Ice Cream and located across the street from a Sinclair Gas Station. The Starbucks is located within walking distance from Shoppes on the Creek, an outlet mall anchored by Dollar Tree and also features a SuperCuts, PetSense by Tractor Supply as well as many other local tenants. The asset is located less than 1-mile from a 110,000+ SF Walmart Supercenter that also features a Murphy USA pad. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Taco Bell, KFC, Carl’s Jr, Family Dollar, AutoZone, O’Reilly Auto Parts, Sonic, Domino’s Pizza, and many more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 9,749 and 5,149 employees with an average household income of $60,186.