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Restaurant

Starbucks - New 10 Yr Lease @ USD Campus

SEC E Cherry St & N Plum St, Vermillion, SD 57069

Listing Price: $2,335,000

Cap Rate
5.40%
Tenant Name
Starbucks
Years Remaining On Lease
10.2
Gross SF
2,365
Guarantor
Corporate Guarantee
Rentable SF
2,365
Price/Gross SF
$987.32
Lease Type
Double Net
Rent Per Square Feet
$53.32

Investment Overview

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, Starbucks Corporation’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SBUX.” The company purchases and roasts high-quality coffees that they sell, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through company-operated stores. Vermillion is located in the southeast corner of South Dakota near the intersection of Interstate 29 and South Dakota Highway 50. Home to the University of South Dakota, Vermillion also boasts an excellent school system, two clinics, and a hospital. Residents enjoy a variety of recreation activities, including bike paths, four city parks, and an 18-hole golf course. Nestled along the banks of the Missouri River, Vermillion is an idyllic college town filled with restaurants, movie theaters, and museums all within walking distance.

Investment Highlights

  • Brand New 10-Year Corporate-Guaranteed Lease with Starbucks (NASDAQ: SBUX)
  • New 2022 Construction with a Drive-Through
  • Rare Opportunity - Property is Located in an Opportunity Zone
  • 7.5 Percent Rental Increases Every Five Years
  • Easily Walkable Location Adjacent to 9,500+ College Students at the University of South Dakota
  • College Town Location with 18,608 Residents within the Surrounding Trade Area - Households Projected to Increase 8 Percent + within a One-Mile Radius by 2026
  • Situated at the Signalized Hard Corner of East Cherry Street and North Plum Street (14,500+ Cars per Day at the Intersection)
  • Within One Mile of Two New Student Housing Developments with a Combined 241 Units - The Heights and The Quarters at Vermillion

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Financing By

Restaurant

Starbucks - New 10 Yr Lease @ USD Campus

Listing Price: $2,335,000

Cap Rate
5.40%
Tenant Name
Starbucks
Years Remaining On Lease
10.2
Gross SF
2,365
Guarantor
Corporate Guarantee
Rentable SF
2,365
Price/Gross SF
$987.32
Lease Type
Double Net
Rent Per Square Feet
$53.32

Investment Highlights

  • Brand New 10-Year Corporate-Guaranteed Lease with Starbucks (NASDAQ: SBUX)
  • New 2022 Construction with a Drive-Through
  • Rare Opportunity - Property is Located in an Opportunity Zone
  • 7.5 Percent Rental Increases Every Five Years
  • Easily Walkable Location Adjacent to 9,500+ College Students at the University of South Dakota
  • College Town Location with 18,608 Residents within the Surrounding Trade Area - Households Projected to Increase 8 Percent + within a One-Mile Radius by 2026
  • Situated at the Signalized Hard Corner of East Cherry Street and North Plum Street (14,500+ Cars per Day at the Intersection)
  • Within One Mile of Two New Student Housing Developments with a Combined 241 Units - The Heights and The Quarters at Vermillion

Investment Overview

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world, operating in 69 countries. Formed in 1985, Starbucks Corporation’s common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “SBUX.” The company purchases and roasts high-quality coffees that they sell, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through company-operated stores. Vermillion is located in the southeast corner of South Dakota near the intersection of Interstate 29 and South Dakota Highway 50. Home to the University of South Dakota, Vermillion also boasts an excellent school system, two clinics, and a hospital. Residents enjoy a variety of recreation activities, including bike paths, four city parks, and an 18-hole golf course. Nestled along the banks of the Missouri River, Vermillion is an idyllic college town filled with restaurants, movie theaters, and museums all within walking distance.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

Financing By

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