Log In/Sign Up
Your email has been sent.
Starbucks 1420 Union Ave 1,960 SF Retail Building Memphis, TN 38104 $1,833,000 ($935.20/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Over 4 Years Remaining | Scheduled Rental Increases | Investment Grade Tenant | Well-Known & Established Brand
- Dense Retail Corridor | Strong Tenant Presence | Numerous Surrounding Medical Facilities (1,400+ Beds)
- Located Along Union Avenue | Centralized Location |Drive-Thru Equipped | Excellent Visibility & Access
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities | No State Income
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, investment grade (S&P: BBB+), Starbucks investment property located in Memphis, TN. The tenant, Starbucks Corporation, has over 4 years remaining on their initial term with 4 (5-year) option periods left to extend. The lease features a 10-15% rental increase at the beginning of each option, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 40,000 locations worldwide.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
1,960 SF
Building Class
B
Year Built
2019
Price
$1,833,000
Price Per SF
$935.20
Cap Rate
6%
NOI
$110,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.53 AC
Opportunity Zone
Yes
Zoning
CMU-3
Parking
21 Spaces (10.71 Spaces per 1,000 SF Leased)
Frontage
331’ on Union Ave
AMENITIES
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Drive Thru
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 01-7025-0-0004 | Improvements Assessment | $529,360 |
| Land Assessment | $196,320 | Total Assessment | $725,680 |
PROPERTY TAXES
Parcel Number
01-7025-0-0004
Land Assessment
$196,320
Improvements Assessment
$529,360
Total Assessment
$725,680
1 of 10
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Starbucks | 1420 Union Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.