Woodward, OK - 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, Starbucks investment property located in Woodward, Oklahoma. The tenant, Starbucks Corporation recently signed a brand-new 10-year lease with 6 (5-year) options to extend, demonstrating
their commitment to the site. The lease features 7% 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 NN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Starbucks is highly ranked and has been ranked the #1 Most Valuable restaurant brand in the world for the 8th year in a row, according to Brand Finance (2024).

The Starbucks features direct access and excellent visibility to Oklahoma Ave, which averages 35,590 vehicles passing by daily and is a major retail thoroughfare serving the city of Woodward. The property is located adjacent to Plaza Shopping Center, a 48,000 square foot shopping center with major tenants including RAC, Family Dollar, and more. Additionally, the asset is situated less than 2.5 miles from a Walmart Supercenter-anchored shopping center that includes other credit/national tenants. Furthermore, Starbucks is located in the center of a primary retail corridor with other nearby national/credit tenants including McDonald’s, Taco Bell, Harbor Freight Tools, Walgreens, O’Reilly Auto Parts, Sonic, KFC, Carl’s Jr, Dollar General, NAPA Auto Parts, Dairy Queen, Sherwin-Wiliams, Family Dollar, among others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a 24-hour Walmart Supercenter, Sam’s Club, CVS, Walgreens, Dollar Tree, Michaels, Petco, and more, further increasing consumer traffic to the site. The subject property is in close proximity to INTEGRIS Health Woodward Hospital, a local hospital with 87 beds. The 5-mile trade area is supported by a population of over 13,700 with an average household income of $82,656.