Freestanding Starbucks Drive-Thru

Investment Overview

Starbucks’ modern prototype, featuring a dedicated drive-thru lane, patio seating area, 22 striped surface parking spaces, an on-site trash enclosure, and both monument and pylon signage along NE 23rd Street. The well located, high visibility pad site benefits from shared access and joint parking rights within The Markets at Choctaw, a Walmart-anchored regional shopping center at the signalized intersection of NE 23rd Street & Market Boulevard.

Investment Highlights

• Single-tenant retail pad building occupied by Starbucks Corporation on a corporate guaranteed lease
• NNN lease agreement – Tenant pays its pro-rata share of CAM, real estate taxes and insurance
• 10-Year initial lease term
• Current Base Rent (Years 6–10): $107,800 per year ($51.60/SF on 2,089 SF).
• Prior Rent Step (Years 1–5): $98,000 per year.
• Four (4) five-year options with fixed increases in each option period
• Approximately 5 years on the initial 10-year term (Years 6–10) at the current rent of $107,800 (as of marketing).
• **NNN lease – Landlord remains responsible for roof, roof membrane, roof systems, parking lot, sidewalks, landscaping, drainage and center-wide utility systems, and other structural/common-area items per the lease and ECRs