Starbucks 3320 N Lewis Ave 2,360 SF 4-Star Retail Building Waukegan, IL 60087 $2,333,000 ($988.56/SF) 6% Cap Rate

New 10-year corporate net lease to Starbucks (NASDAQ: SBUX) with 10% scheduled rent increases in the primary term and option periods and limited landlord responsibilities. The property was constructed in 2023 and features a drive-thru component and outdoor patio.
The subject property is located near the signalized hard-corner intersection of N Lewis Avenue and W Yorkhouse Road, which experience a combined traffic count of 29,700 vehicles per day. The site benefits from excellent visibility, significant street frontage, and a large pylon sign along N Lewis Avenue. The surrounding 5-mile trade area is home to approximately 150,000 residents and 43,000 employees, with an average household income of nearly $100,000, providing a strong and stable consumer base. The property sits outparcel to an Ace Hardware and Dollar Tree–anchored center, with additional national retailers in close proximity, including Target and Jewel-Osco (directly across), Taco Bell (adjacent), Burger King, T-Mobile, GNC, and more.
The site is well-positioned near multiple schools and community amenities, generating consistent daily traffic. Nearby institutions include HR McCall Elementary (378 students), Little Fort Elementary (412 students), Oak Crest Elementary (430 students), and Howe Elementary (453 students). Additional nearby attractions such as Bevier Park & Sports Complex, Bonnie Brook Golf Course, and Greenshire Golf Course contribute to steady local activity. The property also benefits from proximity to several regional destinations, including Downtown Waukegan (4.5 miles), Waukegan Harbor & Marina (5 miles), the Lake County Forest Preserve & Greenbelt Cultural Center (6 miles), Six Flags Great America (7 miles), Great Wolf Lodge (8 miles), Gurnee Mills Mall (8.5 miles), and Pleasant Prairie Premium Outlets (12 miles).