Veterans Memorial Drive & Odea Street - Freestanding FOR SALE


Abbeville, LA 70510
$2,137,000 USD
914-498-2225
Veterans Memorial Drive & Odea Street, Abbeville, LA for Sale
$2,137,000 USD
Freestanding - FOR SALE
1/9
null | 6% Cap Rate

Veterans Memorial Drive & Odea Street
Abbeville, LA 70510


HIGHLIGHTS

  • Brand New 10-Year Deal | New Construction | Drive-Thru Equipped | Investment Grade Tenant
  • NN | Fee Simple Ownership | Limited Landlord Responsibilities
  • Hard Corner Intersection | Dense Retail Corridor
  • Strong Demographics in 5-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 NN leased, brand new construction, corporate guaranteed (NYSE: SBUX), investment grade (S&P: BBB+), Starbucks investment property located in Abbeville, Louisiana. The tenant, Starbucks Corporation, recently signed a brand new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with landlord responsibilities limited to roof, exterior structure, foundation, and parking lot. The newly-constructed building will feature a state-of-the-art design with high-quality materials. The Starbucks is located at the hard corner intersection of Odea St and Veterans Memorial Dr. with a combined (21,200 VPD). The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including Lowe’s, Dollar General, Circle K, McDonald’s, Taco Bell, Burger King, Advance Auto Parts, O’Reilly Auto Parts, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the subject property is in close proximity to Vermilion Catholic (214 students), further increases consumer traffic to the site. The 5-mile trade area is supported by over 22,000 residents and 9,000 employees. Residents within a 5-mile radius of the subject property have an average household income of $70,214.

FOR SALE DETAILS

PRICE

$2,137,000 USD

PRICE/SF

$1,060 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks | New 10yr Corp NN | DrThru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Sabrina SapienzaSRS Real Estate PartnersMore Info
914-498-2225

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Sabrina SapienzaSRS Real Estate PartnersMore Info
914-498-2225

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