W Ridge Rd - Fast Food FOR SALE


Erie, PA 16506
$2,400,000 USD
415-690-5522
W Ridge Rd, Erie, PA for Sale
$2,400,000 USD
Fast Food - FOR SALE
1/6
null | 6.15% Cap Rate

W Ridge Rd
Erie, PA 16506


HIGHLIGHTS

  • 10-year corporate net lease to Starbucks Corporation (NASDAQ: “SBUX”)
  • Rare “Tenant-Maintain” lease structure
  • 10% rental increases every five years in initial term and option periods
  • Investment-grade tenant, rated “BBB+” by Standard & Poor’s
  • Starbucks Corporation is the world’s premier coffee company, with over 38,000 locations worldwide and $36B in annual revenue
  • Per Statista, customers go to Starbucks six times per week on average

OVERVIEW

This Starbucks is positioned along West Ridge Road with direct visibility access to more than 19,000 vehicles per day directly in front of the property. This site is directly adjacent to Erie International Airport (100,000+ 2023 passengers). Excellent annual average household income of $120,754 within a three-mile radius. Located near highly attended Erie schools, including McDowell Senior High School, Walnut Creek Middle School, and Asbury Elementary School (combined 3,193 students). This new Starbucks is located near strong local traffic drivers including Walmart Supercenter, Lowe’s, Wegmans, PNC Bank, Five Guys, Chick-fil-A, Dollar General, Applebee’s, ALDI, Sheetz, and many others. This new Starbucks is located near strong local traffic drivers including Walmart Supercenter, Lowe’s, Wegmans, PNC Bank, Five Guys, Chick-fil-A, Dollar General, Applebee’s, ALDI, Sheetz, and many others. The property is a new, high quality 2024 construction built to Starbucks’ latest prototype and featuring a dedicated drive-thru for added customer convenience.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$1,000 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

1.79 AC

LAND SF

77,798 SF

ZONING

-

APN/PARCEL ID

33-042-230.1-001.01

ASK ABOUT THIS PROPERTY

Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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