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Starbucks 1497 E Dixie Dr 2,460 SF Retail Building Asheboro, NC 27203 $2,687,000 ($1,092.28/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- NEW CONSTRUCTION
- HIGH GROWTH ASHEBORO, NC
- SIGNIFICANT NEARBY DEVELOPMENT
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- 10% rental increases every 5 years including options
- Two (2) - five (5) year options
- Minimal LL responsibilities
CORPORATE GUARANTEE FROM CREDIT TENANT
- Starbucks has a S&P credit rating of BBB+
- Over 35,000 locations worldwide
- $30.3B Total Revenue
SIGNIFICANT NEARBY DEVELOPMENT
- Asheboro and the surrounding Piedmont Triad are experiencing a surge in large-scale industrial and advanced manufacturing investment
- Market has attracted 2M+ SF of new industrial and logistics development in the past 24 months
- On going retail infill along E Dixie Drive (US-64) includes new QSR, automotive, and service retail
- Within a 1-mile radius there is 1.6 M SF of retail space and positive net absorption of 151% in the past 12 months
NEW CONSTRUCTION
- New build-to-suit Starbucks with a double drive-thru lane
- Warranties will be assigned to the new owner
HIGH GROWTH ASHEBORO, NC
- Over 1.7M people live in Triad & the region has over 900K jobs with a 2.3% job growth since 2022
- Asheboro has experienced significant investment from Envoronmental Air Systems, Energizer, Ross, Klaussner Furniture and Randolph Hospital, and is home to the NC Zoo
TOP PERFORMING LOCATION IN HIGHLY SOUGHT AFTER RETAIL CORRIDOR
- The subject Starbucks ranks 1 in visits in North Carolina and top 99th percentile in the Country
- Fronting E. Dixie Dr (20K VPD)
- Nearby Restaurant users include Chipotle, McDonalds, Wendy’s, and Chick-Fil-A
- Other National tenants include Walmart, Lowe’s Home Improvement, Marshals, and Hobby Lobby
- 10% rental increases every 5 years including options
- Two (2) - five (5) year options
- Minimal LL responsibilities
CORPORATE GUARANTEE FROM CREDIT TENANT
- Starbucks has a S&P credit rating of BBB+
- Over 35,000 locations worldwide
- $30.3B Total Revenue
SIGNIFICANT NEARBY DEVELOPMENT
- Asheboro and the surrounding Piedmont Triad are experiencing a surge in large-scale industrial and advanced manufacturing investment
- Market has attracted 2M+ SF of new industrial and logistics development in the past 24 months
- On going retail infill along E Dixie Drive (US-64) includes new QSR, automotive, and service retail
- Within a 1-mile radius there is 1.6 M SF of retail space and positive net absorption of 151% in the past 12 months
NEW CONSTRUCTION
- New build-to-suit Starbucks with a double drive-thru lane
- Warranties will be assigned to the new owner
HIGH GROWTH ASHEBORO, NC
- Over 1.7M people live in Triad & the region has over 900K jobs with a 2.3% job growth since 2022
- Asheboro has experienced significant investment from Envoronmental Air Systems, Energizer, Ross, Klaussner Furniture and Randolph Hospital, and is home to the NC Zoo
TOP PERFORMING LOCATION IN HIGHLY SOUGHT AFTER RETAIL CORRIDOR
- The subject Starbucks ranks 1 in visits in North Carolina and top 99th percentile in the Country
- Fronting E. Dixie Dr (20K VPD)
- Nearby Restaurant users include Chipotle, McDonalds, Wendy’s, and Chick-Fil-A
- Other National tenants include Walmart, Lowe’s Home Improvement, Marshals, and Hobby Lobby
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
2,460 SF
Building Class
B
Year Built
2025
Price
$2,687,000
Price Per SF
$1,092.28
Cap Rate
5.75%
NOI
$154,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.35 AC
Parking
27 Spaces (10.98 Spaces per 1,000 SF Leased)
Frontage
172’ on East Dixie Drive
AMENITIES
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Starbucks
- Services
- 2,460 SF
- -
- Double Net
- Apr 2035
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Starbucks | Services | 2,460 SF | - | Double Net | Apr 2035 |
NEARBY MAJOR RETAILERS
CONTACTS
-
David Hoppe -
Eric Suffoletto -
Ben Olmstead -
Connor Kuchman -
Ben McCarter -
Kendra Doherty -
Atlantic Capital Partners
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Starbucks | 1497 E Dixie Dr
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