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Starbucks 1070 Darrington Dr 2,500 SF Retail Building Cary, NC 27513 $2,863,500 ($1,145.40/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand new 2024 construction – 2,500 SF Starbucks with drive-thru
- NN lease structure – minimal landlord responsibilities
- Affluent demographics: $190K+ avg. HH income within 1 mile
- 10% rent increases every 5 years, including six 5-year renewal options
- 10-year NN lease with Starbucks Corporation
- Located in high-growth Cary, NC – near RTP and RDU Airport
EXECUTIVE SUMMARY
Brand new 10-year corporate Starbucks NN lease located in Cary, one of the fastest-growing and most affluent markets in North Carolina. Built in 2024, this 2,500 SF build-to-suit store features a drive-thru and benefits from 23,500 VPD on NW Cary Parkway. The site is surrounded by an affluent residential customer base and is located less than one mile from Park West Village shopping center. Lease includes 10% rent increases every five years and six 5-year options with no kick-out clause.
-- Brand new 2024 construction - 2,500 SF Starbucks with drive-thru
-- 10-year NN lease with Starbucks
-- Approximately 9 years remaining on lease
-- No kick-out option in place
-- 10% rent escalations every five years, including six 5-year renewal options
-- Positioned on NW Cary Parkway (23,500 VPD) at a signalized intersection
-- High-growth location in Cary near RTP and RDU Airport
-- Affluent demographics with an average household income of $190,000 in a one-mile radius
-- Brand new 2024 construction - 2,500 SF Starbucks with drive-thru
-- 10-year NN lease with Starbucks
-- Approximately 9 years remaining on lease
-- No kick-out option in place
-- 10% rent escalations every five years, including six 5-year renewal options
-- Positioned on NW Cary Parkway (23,500 VPD) at a signalized intersection
-- High-growth location in Cary near RTP and RDU Airport
-- Affluent demographics with an average household income of $190,000 in a one-mile radius
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
2,500 SF
Building Class
B
Year Built
2024
Price
$2,863,500
Price Per SF
$1,145.40
Cap Rate
5.50%
NOI
$157,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.95 AC
Zoning
GCCU - Commercial
Parking
21 Spaces (8.4 Spaces per 1,000 SF Leased)
Frontage
300’ on Darrington Dr
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 0754.01-46-2297-000 | Improvements Assessment | $572,934 |
| Land Assessment | $1,758,974 | Total Assessment | $2,331,908 |
PROPERTY TAXES
Parcel Number
0754.01-46-2297-000
Land Assessment
$1,758,974
Improvements Assessment
$572,934
Total Assessment
$2,331,908
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Starbucks | 1070 Darrington Dr
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