3027 Peoples St - Fast Food FOR SALE


Johnson City, TN 37604
$2,988,000 USD
949-221-1814
3027 Peoples St, Johnson City, TN for Sale
$2,988,000 USD
Fast Food - FOR SALE
1/3
null | 5.44% Cap Rate

3027 Peoples St
Johnson City, TN 37604


HIGHLIGHTS

  • BRAND NEW DRIVE-THRU EQUIPPED BUILDING ON RARE 1.26 ACRE PARCEL
  • JOHNSON CITY, TENNESSEE: THE HIGHEST GROWTH % IN NORTHEAST TENNESSEE
  • ADJACENT TO THE ONLY SAM’S CLUB LOCATION IN NORTHEAST TENNESSEE, #1 VISITED IN STATE (Placer.ai)
  • STRATEGICALLY POSITIONED ON JOHNSON CITY’S MAIN RETAIL CORRIDOR & ACCESS TO INTERSTATE 26 (+44,000 VPD)
  • CORPORATE SBUX (BBB+) LEASE
  • LONG TERM LEASE WITH NO EARLY TERMINATION RIGHTS

OVERVIEW

BROKER OF RECORD - OJAS PARTNERS - 264792 Faris Lee Investments is pleased to present the rare opportunity to acquire fee simple interest (land & building) in a brand-new, drive-thru equipped, 1.26-acre, freestanding Starbucks property located in the pro-business state of Tennessee. Johnson City TN is a highly coveted / high-barrier-to-enter market with impressive retailer traffic and population growth. The subject property strategically services one of Johnson City’s primary corridors, Franklin Road (38,000 VPD) and sits adjacent to access points for the Interstate 26 freeway (44,000 VPD). Starbucks signed a 10+ year lease with 10% rental increases occurring every 5 years of lease term. Starbucks does not have the right to terminate the lease early, which adds security and stability for an investor. Additionally, this location is proximate to many national retailers including: Sam’s Club, Walmart Supercenter, Home Depot, Hobby Lobby, Lowe’s, At Home, and more. This brand new Starbucks property is the ideal investment opportunity for a passive investor looking for a drive-thru QSR property with a premier, investment-grade tenant(BBB+) and excellent real estate fundamentals. Starbucks (NASDAQ: SBUX) is a QSR tenant highly desired by investors and property owners across the globe. With more than 38,000 locations in the world and a $82 Billion dollar market cap, they are the dominant brand in coffee and quick service restaurants. The company reported an impressive 11% increase in revenue during their most recent fiscal year ($35.97 Billion). Starbucks was founded in 1971, near the Pike Place Market in Seattle WA. Today, Starbucks has pioneered the drive-thru coffee concept, and created a neighborhood-gathering place with quality service, inviting atmosphere, and exceptional food & beverage selections.

FOR SALE DETAILS

PRICE

$2,988,000 USD

PRICE/SF

$1,176 USD /SF

CAP RATE

5.44%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks DT in Johnson City TN (Brand New)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Fast Food, Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

-

APN/PARCEL ID

090037E A 00202

ASK ABOUT THIS PROPERTY

Hunter SteffienFaris Lee InvestmentsMore Info
949-221-1814

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Hunter SteffienFaris Lee InvestmentsMore Info
949-221-1814

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