3073 N Eastman Rd - Fast Food FOR SALE


Longview, TX 75605
$1,525,000 USD
858-900-3114
3073 N Eastman Rd, Longview, TX for Sale
$1,525,000 USD
Fast Food - FOR SALE
1/3
null | 6.2% Cap Rate

3073 N Eastman Rd
Longview, TX 75605


HIGHLIGHTS

  • Recent 10 Year Lease Extension: Demonstrating strong commitment and performance at this location
  • Corporate Lease Guaranty: The lease is corporately guaranteed by Starbucks, the largest coffeehouse chain in the world with ±38,038 locations
  • Strong Tenant: Starbucks reported 2023 sales of ±$36 billion, a 11.55% increase from 2022
  • Investment-Grade Tenant and Publicly Traded:Starbucks currently holds an Investment-Grade Standard & Poor’s Credit Rating of BBB+ | (NASDAQ:SBUX)
  • Proven Location: Successful Starbucks location with 15+ years of operating history located in established and growing trade area
  • Highly Visible and Easily Accessible: Ideally located with excellent frontage and visibility at the hard-signaled intersection

OVERVIEW

CIRE Partners is pleased to present a single-tenant net leased investment opportunity in Longview, Texas. This property is occupied by Starbucks and located at 3073 North Eastman Rd. The site consists of a ±1,750 square foot drive-thru building on a ±1.19 acre corner parcel of land. Starbucks has operated at this location for approximately 15 years and recently extended their lease, demonstrating their commitment to and performance at this location. Starbucks is the largest coffeehouse chain in the world with approximately 33,833 locations. Starbucks is publicly traded (NASDAQ:SBUX) and has an investment-grade Standard & Poor’s rating of BBB+. Starbucks is renowned for its high-quality coffee and exceptional customer service, making it a household name that people return to frequently for their daily caffeine fix. The strategic location of this property is an added advantage, situated in a high-traffic area with significant foot and vehicular traffic flow. This visibility will augment the potential for customer attraction and retention for the Starbucks Coffee location. Situated on a corner signalized intersection with over 44,000 ADT, the property perfectly situated for maximum exposure and accessibility. With this property’s location in Longview TX, the investor can tap into the increasing demand for coffee in the area. There are approximately 9 years remaining on the corporate-backed lease, offering investors a safe and an easy-to-manage passive ownership structure for many years to come. Broker of Record: Congress Realty, Inc. TX License #0561973

FOR SALE DETAILS

PRICE

$1,525,000 USD

PRICE/SF

$871 USD /SF

CAP RATE

6.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

C

APN/PARCEL ID

r93070

ASK ABOUT THIS PROPERTY

Arbi GoceCIRE PartnersMore Info
858-900-3114

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Arbi GoceCIRE PartnersMore Info
858-900-3114

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