5521 Carolina Beach Rd
Wilmington, NC 28412
Retail Property For Sale

BEST IN CLASS INVESTMENT GRADE CREDIT TENANT Starbucks recently signed a new 10-year lease with no early termination clause High-quality 2019 construction with dedicated drive-thru, outdoor patio seating, and no near term deferred maintenance Fixed 10% rental increases every 5 years in both the initial term and option periods Limited landlord responsibilities for roof, structure and parking lot – see broker for details New 15-year manufacturer’s roof warranty to be transferred to new owner at the close of escrow Lease secured by an industry-leading, investment-grade credit tenant with a “BBB+” rating by Standard and Poor’s Starbucks has over 30,000 locations worldwide and saw over $24.72 billion in revenue in 2018 HIGH TRAFFICKED RETAIL CORRIDOR Unmatched access and visibility to over 43,000 vehicles per day and as an outparcel to Home Depot Good mix of internet resistant national retailers such as Walmart, Lowe’s, Chick Fil A, McDonald’s, Buffalo Wild Wings, Taco Bell and Burger king Limited competition being the only free-standing Starbucks with drive-thru in the immediate area Short distance from the signalized intersection of Piner Road and Carolina Beach Road which sees over 61,000 vehicles per day Strong expected population growth of over 11% in the 1-mile radius between 2019-2024 Over 77,000 residents within a 5-mile radius and various residential development projects currently underway and planned for the surrounding area