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3027 Covington Pike
Memphis, TN 38128
Starbucks · Retail Property For Sale
Investment Highlights
- New 10.5-year corporate NN+ lease to Starbucks Corporation (NASDAQ: “SBUX”)
- Rare 1.5% annual rental increases in initial term and option periods
- Per Statista, customers go to Starbucks six times per week on average
- Investment-grade tenant, rated “BBB+” by Standard & Poor’s
- Starbucks is the world’s premier coffee company, with over 38,038 locations and $35.9 billion in annual revenue
- Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily
Property Facts
Property Type
Retail
Property Subtype
Building Size
2,234 SF
Building Class
B
Year Built
2024
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.27 AC
Zoning
CMU-2
Frontage
180’ on COVINGTON PIKE
Property Taxes
| Parcel Number | 08-7053-0-0054 | Improvements Assessment | $568,920 |
| Land Assessment | $86,240 | Total Assessment | $655,160 |
Property Taxes
Parcel Number
08-7053-0-0054
Land Assessment
$86,240
Improvements Assessment
$568,920
Total Assessment
$655,160
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