424 US Highway 70 W - Fast Food FOR SALE


Havelock, NC 28532
$2,008,000 USD
929-229-2614
424 US Highway 70 W, Havelock, NC for Sale
$2,008,000 USD
Fast Food - FOR SALE
1/8
null | 6.1% Cap Rate

424 US Highway 70 W
Havelock, NC 28532


HIGHLIGHTS

  • Over 9 Years Remaining | Corporate Signed (S&P: BBB+) | Scheduled Rental Increases
  • NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
  • Outparcel to Planet Fitness Anchor | Drive-Thru Equipped |South of Walmart Supercenter | Primary Retail Corridor
  • Strong Demographics in 10-Mile Trade Area

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, drive-thru equipped, corporate signed, freestanding Starbucks investment property located in Havelock, North Carolina. The tenant, Starbucks Corporation (NASDAQ: SBUX | S&P: BBB+) has over 9 years remaining on their current lease term with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features a flat base term, with 10% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$2,008,000 USD

PRICE/SF

$810 USD /SF

CAP RATE

6.1%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks | 9+yrs Remain Corp NNN | S&P: BBB+

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

HC

APN/PARCEL ID

6-216-007

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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