4614 Penn Ave - Restaurant FOR SALE


Sinking Spring, PA 19608
$2,750,000 USD
202-286-1542
4614 Penn Ave, Sinking Spring, PA for Sale
$2,750,000 USD
Restaurant - FOR SALE
1/8
null | 6% Cap Rate

4614 Penn Ave
Sinking Spring, PA 19608


OVERVIEW

• Starbucks selected this location for a brand new built-to-suit drive-thru facility with a 10-year net lease. There are 4 (5-year) options to extend, demonstrating their long-term plans and commitment to the site • 2024 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements • The lease is corporate signed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 39,000 stores • The lease features 10% rental increases at the beginning of each option, growing NOI and hedging against inflation • Tenant pays for taxes, insurance and maintains most aspects of the premises • Limited Landlord responsibilities for roof, structure, and CAM administration • Ideal, low-management investment for a passive investor • Starbucks is located at the signalized, hard corner intersection of Penn Ave. and Green Valley Rd. averaging a combined 30,700 VPD • Penn Ave. is a primary retail thoroughfare serving the city of Sinking Spring with surrounding retailers such as Popeyes, Sheetz, Dollar Tree, Wendy’s, Tractor Supply Co., and more • The site is complete with a drive-thru to maximize both sales and convenience to the customer base immediately surrounding the site • The asset benefits from excellent visibility via significant street frontage • First & Only Free-Standing Starbucks Drive-Thru in Trade Area • More than 94,000 residents and 57,800 employees support 5-mile trade area • Residents within 1-miles of the site boast an affluent average household income of $139,331

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$1,146 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks - Sinking Spring, PA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Aspen Ave

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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