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Restaurant

Starbucks

7101 S Stony Is Ave, Chicago, IL 60649

Listing Price: $2,450,000

Cap Rate
4.50%
Tenant Name
Starbucks
Years Remaining On Lease
12.2
Guarantor
Corporate Guarantee
Rentable SF
1,696
Lease Type
Double Net
Rent Per Square Feet
$65.00

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 7101 South Stony Island Avenue (The Property), a 1,696-square-foot building in which Starbucks has just executed an early ten-year lease extension on their long-term double net lease, with multiple renewal options and rent increases remaining. Starbucks has a history of exercising multiple renewal options at this location, as well as repeatedly increasing the rent, showing a strong commitment to the site. The drive-thru Property is strategically located on the hard corner of East 71st Street and South Stony Island Avenue, a highly trafficked intersection with visibility to a combined 31,600 vehicles per day. The site is only 350 feet from the Stony Island Avenue station of the Metra Electric Line, the fifth busiest of the Metra’s 11 lines that commutes a total of 7.7 million annual riders. Additionally, the Property is within 2.5 miles of both Interstate 94 and Interstate 90, with a combined VPD of 233,900. Neighboring retail tenants on Stony Island Avenue include Advanced Auto Parts, Bank of America, Dollar Tree, Burger King, Shell, Jewel-Osco, AutoZone Auto Parts, and numerous others.

Investment Highlights

  • Long-Term Tenant has Operated at Location for 18+ Years and Just Executed Early Lease Extension
  • Over Twelve Years of Lease Term Remaining — Double Net with Minimal Landlord Responsibilities
  • Located on Highly Trafficked South Stony Island Avenue and East 71st Street Intersection — Combined 31,600 Vehicles Per Day
  • Prominent Retail Corridor — Dollar Tree, Burger King, Jewel-Osco, Advance Auto Parts, and Numerous Other Major Retail Tenants
  • Significant Renovation Slated for Q4 2022

Exclusively Listed By

Listing Price: $2,450,000

Cap Rate
4.50%
Tenant Name
Starbucks
Years Remaining On Lease
12.2
Guarantor
Corporate Guarantee
Rentable SF
1,696
Lease Type
Double Net
Rent Per Square Feet
$65.00

Investment Highlights

  • Long-Term Tenant has Operated at Location for 18+ Years and Just Executed Early Lease Extension
  • Over Twelve Years of Lease Term Remaining — Double Net with Minimal Landlord Responsibilities
  • Located on Highly Trafficked South Stony Island Avenue and East 71st Street Intersection — Combined 31,600 Vehicles Per Day
  • Prominent Retail Corridor — Dollar Tree, Burger King, Jewel-Osco, Advance Auto Parts, and Numerous Other Major Retail Tenants
  • Significant Renovation Slated for Q4 2022

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 7101 South Stony Island Avenue (The Property), a 1,696-square-foot building in which Starbucks has just executed an early ten-year lease extension on their long-term double net lease, with multiple renewal options and rent increases remaining. Starbucks has a history of exercising multiple renewal options at this location, as well as repeatedly increasing the rent, showing a strong commitment to the site. The drive-thru Property is strategically located on the hard corner of East 71st Street and South Stony Island Avenue, a highly trafficked intersection with visibility to a combined 31,600 vehicles per day. The site is only 350 feet from the Stony Island Avenue station of the Metra Electric Line, the fifth busiest of the Metra’s 11 lines that commutes a total of 7.7 million annual riders. Additionally, the Property is within 2.5 miles of both Interstate 94 and Interstate 90, with a combined VPD of 233,900. Neighboring retail tenants on Stony Island Avenue include Advanced Auto Parts, Bank of America, Dollar Tree, Burger King, Shell, Jewel-Osco, AutoZone Auto Parts, and numerous others.

Exclusively Listed By

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