Starbucks

Tenant

Starbucks

Location

Rochester , NY

Price

$836,237

CAP Rate

6.75%

NOI

$56,446

Lease Term

8.2 Years

Occupancy

100%

Building Size

2,875

Property Type

Single Tenant

Year Built

1920/2012

Lot Size

0.13

Status

Available

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

JC Corr

Associate

(201) 742-6181 | Email

  • NN Corporately Guaranteed Lease
  • Investment Grade Tenant | BBB+ (S&P)
  • Excellent Demographics | 300k+ People in 5 Miles
  • 10% Rent Increases in each Option Period
  • Long Term Historical Occupancy | Starbucks has Operated at this Location since 1997
  • Located in Downtown Rochester, NY
  • Located 0.2 Miles from I-490 Exit 18 | 94,640 VPD

Marcus and Millichap is pleased to exclusively present a Starbucks in Rochester, NY. The property is subject to a NN corporately guaranteed lease. There are 8.2 years remaining on the base term and two 5 year option periods available. The lease calls for rental increases of 10% in each option period. Starbucks has been operating at this location since 1997. The sloped roof was re-shingled in Summer of 2007 with a 50-year architectural shingle. The flat roof was replaced completely in Summer 2007. The property has non-exclusive access to all parking spaces in the city managed parking lot behind the building. This is a unique opportunity to own a well-maintained Starbucks in a high barrier to entry downtown market.

Starbucks is an American based global coffee company based in Seattle, WA. Starbucks is the largest coffeehouse company in the world with more than 28,000 locations across 78 countries. Since its founding in 1971, Starbucks has grown into a global public company that ranks #132 on the Fortune 500 list.

The subject property is located in Downtown Rochester near many national and local tenants. National tenants nearby include Walgreens, 7-Eleven, Chase Bank, Subway, McDonald’s and more. Starbucks is located only 0.2 miles off Interstate 490 which has an average of 94,650 vehicles per day. The area is very densely populated with more than 300k people residing within 5 miles.