Corpus Christi TX - Starbucs

Description:

NEW 2024 CONSTRUCTION | LARGE PARCEL | 10-YEAR LEASE WITH LIMITED LL RESPONSIBILITIES
New 10-Year NN+ Lease with minimal landlord responsibilities and a new 20-year transferable roof warranty, offering a passive investment property for an out-of-town investor
New 2024 high-end construction equipped with a drive-thru and both indoor and outdoor seating
10% rent increases every 5 years throughout the primary term and option periods provide a hedge against inflation
Investment grade tenant – the corporate lease is backed by Starbucks Corporation, a globally recognized tenant with over 40,200 locations and a BBB+/Baa1 credit rating from S&P and Moody’s

STRATEGIC LOCATION | H-E-B PLUS! ADJACENT | HIGH TRAFFIC COUNTS
Strategically located on Waldron Road, a major north-south thoroughfare, across the street from an H-E-B Grocery ranked in the top 73% of all H-E-B locations in the state, providing a steady customer base
Surrounded by National Retailers including Walmart Supercenter, McDonald’s, AutoZone, Whataburger, Dollar Tree, among others
High-traffic location on Waldron Road with ~17,523 VPD, just south of JFK Memorial Causeway with ~61,222 VPD
Excellent access and visibility from Waldron Road and Knickerbocker Street with ample parking and drive-thru options

STRONG DEMOGRAPHICS | LOCAL DRIVERS | NO STATE INCOME TAX
Income Tax-Free State
Densely Populated and Affluent Trade Area with over 61,000 residents within 5 miles with an average household income over $100,000, projected to increase to over $115,000 by 2029
2 miles south of Naval Air Station Corpus Christi, home to more than 43,200 Navy and civilian personnel
1.5 miles north of Flour Bluff High School (~1,958 students)
6 miles southeast of Texas A&M University – Corpus Christi, home to approximately 10,800 students and over 500 faculty members
Tesla recently opened its first large-scale lithium refinery in Corpus Christi on a 1,200+ acre site, representing an investment of more than $1B in southwest Texas