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1100 Kenilworth AveSuite 210Charlotte, NC 28204
John Lambert, [email protected]
20-YEAR LEASEClick for Map
Starbucks Ground Lease: Absolute Net: 4.5%
PRICE: . . . . . . . . . . . . . . . . . $2,777,777 RENTABLE SF: . . . . . . . . . . . . . . . 3,237 SF ANNUAL RENT: . . . . . . . . . . $125,000 LOT SIZE: . . . . . . . . . . . . . . . . . . . .97 ACRES CAP: . . . . . . . . . . . . . . . . . . . 4.5% YEAR BUILT: . . . . . . . . . . . . . . . . 2018
CONSTRUCTION PHOTOS
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MARKET AERIAL: CORNELIUS, NC
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Population 1-Mile 3-Mile 5-Mile
2016 Population 7,641 43,314 77,879
2021 Population 8,326 46,924 83,943
Daytime Employment 4,150 26,504 36,186
2016 Average Household Income $97,974 $112,831 $124,853
2021 Average Household Income $114,649 $134,047 $149,879
2010 Average Home Value $242,418 $315,320 $332,700
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SITE PLAN AERIAL
RENT ROLL
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Starbucks Lease Abstract
Location 20300 W Catawba Ave
Lease Execution 6.18.18
Tenant Starbucks
Guarantors Starbucks Corporation
Size 3,237sf
Rent Commencement Date The later of 120 days after Tenant’s reciept of all permits or the date that Tenant opens for business.
Lease Expiration Date 10.15.38
Starbucks Primary Base Term 20 years
Annual Base Rent $125,000.00, 10% increase every 5 years
Lease Type Absolute Net
Starbucks Termination Right Starbucks has a right on the last day of the 120th and 180th full calendar month to terminate.
Termination Fee None
Operating ExpensesCAM Tenant shall self maintain.
Real Estate Taxes Tenant shall pay real estate taxes assested against the property.
Tenant’s Insurance Tenant shall self insure.
Utilities Tenants are responnsible for contracting it’s own utility service and connections.
Square Feet Lease Terms Initial Term Rent Rates Option Term Rent RatesStart Term Start Date Lease Years Monthly Rent Annual Rent Start Date Lease Years Monthly Rent Annual Rent Date Option Years Monthly Rent Annual Rent
3,237 2018 20 Years 10.15.18 1 $10,416.67 $125,000.00 10.15.28 11 $12,604.17 $151,250.00 10.15.38 21 - 25 $15,251.04 $183,012.50 10.15.19 2 $10,416.67 $125,000.00 10.15.29 12 $12,604.17 $151,250.00 10.15.42 26 - 30 $16,776.15 $201,313.75
10.15.20 3 $10,416.67 $125,000.00 10.15.30 13 $12,604.17 $151,250.00 10.15.47 31 - 35 $18,453.76 $221,445.13 10.15.21 4 $10,416.67 $125,000.00 10.15.31 14 $12,604.17 $151,250.00 10.15.52 36 - 40 $20,299.14 $243,589.64 10.15.22 5 $10,416.67 $125,000.00 10.15.32 15 $12,604.17 $151,250.00 10.15.57 41 - 45 $22,329.05 $267,948.60 10.15.23 6 $11,458.33 $137,500.00 10.15.33 16 $13,864.58 $166,375.00 10.15.24 7 $11,458.33 $137,500.00 10.15.34 17 $13,864.58 $166,375.00 10.15.25 8 $11,458.33 $137,500.00 10.15.35 18 $13,864.58 $166,375.00
10.15.26 9 $11,458.33 $137,500.00 10.15.36 19 $13,864.58 $166,375.00
10.15.27 10 $11,458.33 $137,500.00 10.15.37 20 $13,864.58 $166,375.00
STARBUCKS OVERVIEW
Starbucks Corporation (NASDAQ: SBUX) is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks was founded in 1985 as a local coffee bean roaster and retailer and has grown into the largest coffeehouse company in the world. There are 23,768 Starbucks stores in 72 countries, including 13,107 in the United States.
Starbucks locations serve hot and cold beverages, whole-bean coffee, micro-ground instant coffee, full-leaf teas, pastries and snacks. Most stores also sell packaged food items, hot and cold sandwiches, and items such as mugs and tumblers. Starbucks Evenings locations also offer a va-riety of beers, wines, and small bites after 4pm. Many of the company’s products are seasonal or specific to the locality of the store, while Starbucks brand ice cream and coffee are also offered at grocery stores. Through Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and films.
Starbucks Corp has revenues north of $21 billion, a net income of $2.82 billion, and a net worth of $5.88 billion. The company currently has an S&P rating of A/Stable.
• Relocation of existing cafe unit is less than 1/4 mile away.• The existing unit has been in operation since October, 1998.• Location of unit is going-to-work side of the road.• Location is 1/4 mile from I-77.• There are no other corporate stores within 2.5 miles.
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Moseley Real Estate Advisors and their respective officers and employees do not make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents.
JOHN LAMBERT, [email protected]
704-927-9226