1005 N Baldwin Ave - Fast Food FOR SALE


Marion, IN 46952
$3,413,000 USD
602-770-7145
1005 N Baldwin Ave, Marion, IN for Sale
$3,413,000 USD
Fast Food - FOR SALE
1/7
null | 6% Cap Rate

1005 N Baldwin Ave
Marion, IN 46952


HIGHLIGHTS

  • Brand-new 12-year lease to Starbucks Corporation with an attractive 7.50% rental escalations during the initial lease term.
  • Starbucks Corporation: NASDAQ: SBUX | S&P BBB+ Investment Grade Credit Rating | Moody’s Baa1 Rating.
  • Brand-new, build-to-suit construction for Starbucks’ newest prototype with an impressive 19-car stack in the drive-thru.
  • Situated on a large ±0.97-acre lot with excellent drive-by visibility/access on N Baldwin Avenue with traffic counts of 23,874 cars per day.
  • 2024 demographics confirm a total 5-mile population of 37,735 and a 1-mile average household income of $71,896.

OVERVIEW

Starbucks has a brand-new 12-year NN* lease to Starbucks Corporation with attractive 7.50% rental escalations during the initial lease term and renewal options. The Tenant, Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Investment Grade Credit Rating | Moody’s Baa1 Rating), operates over 40,000 stores worldwide. It is a brand-new, build-to-suit construction to Starbucks' newest prototype with an impressive 19-car stack in the drive-thru, slated to open in March 2025 (estimated delivery date). The asset is situated on a large ±0.97-acre lot with excellent drive-by visibility and access on N Baldwin Avenue (the main North/South thoroughfare in Marion) with traffic counts of 23,874 cars passing daily. Marion has retailers such as Walmart, Kohl’s, Meijer, Lowe’s, Hobby Lobby, T.J. Maxx, Running’s, Dunham’s Sports, Roses, Maurices, Shoe Carnival, Big Lots, Joann Fabrics, Tractor Supply, Harbor Freight, PetSmart, ALDI, Ruler Foods, Sally, Aaron’s, Dollar General, Dollar Tree, Do It Best, Goodwill, and AMC Theatres. It is 4 miles from Indiana Wesleyan University, the largest private evangelical Christian university (affiliated with the Wesleyan Church) in Indiana, committed to liberal arts & professional education. The University offers more than 80 undergraduate & graduate programs serving over 3,000 students. The subject is also just 1 mile from Marion Health MGH Campus, a non-profit, 99-bed, acute care hospital offering medical services such as acute rehabilitation care, cancer care, cardiovascular, laboratory, medical, neurodiagnostic, obstetrics & newborn care, pediatric care, and more.

FOR SALE DETAILS

PRICE

$3,413,000 USD

PRICE/SF

$1,376 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Starbucks on a 12-Year NN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Bank, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

C

APN/PARCEL ID

27-03-36-404-020.000-023

ASK ABOUT THIS PROPERTY

Kendall CarlsenCommercial Investment Advisors, INCMore Info
602-770-7145

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Kendall CarlsenCommercial Investment Advisors, INCMore Info
602-770-7145

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.