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Restaurant

Starbucks

6023 Andrews Hwy, Midland, TX 79706

Listing Price: $2,800,000

Cap Rate
5.75%
Tenant Name
Starbucks
Years Remaining On Lease
9.8
Gross SF
2,160
Guarantor
Corporate Guarantee
Rentable SF
2,160
Price/Gross SF
$1,296.30
Lease Type
Double Net
Rent Per Square Feet
$74.54

Investment Overview

Marcus & Millichap is pleased to present for sale Starbucks in Midland, Texas. 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.”
Located in the Permian Basin, the nation’s center of oil and gas production, Midland has a thriving economy and is home to many companies in the transportation, advanced manufacturing, and aerospace sectors. Midland is home to over 111,000 people, is the principal city of the Midland metropolitan statistical area, and is the county seat of Midland County, Texas.

Investment Highlights

  • New 10-Year Corporate Lease with Starbucks (NASDAQ: SBUX)
  • 10% Rental Increases Every 5 Years with Multiple Renewal Options
  • 99,419 Residents in Dense Midland Trade Area - Households and Population Projected to Increase 5% in the Immediate Area by 2028
  • New 2023 Construction with a Drive-Thru - Site has Over 500 Feet of Drive-Thru Stacking Capability, Developed to Handle High Volume Sales
  • Excellent Visibility from TX-191 / Andrews Highway (36,550 Cars per Day)
  • Adjacent to Chevron's Mid-Continent Headquarters with 600 Employees, and in Immediate Proximity to Corporate Offices for Other Energy/Oil Companies

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Listing Price: $2,800,000

Cap Rate
5.75%
Tenant Name
Starbucks
Years Remaining On Lease
9.8
Gross SF
2,160
Guarantor
Corporate Guarantee
Rentable SF
2,160
Price/Gross SF
$1,296.30
Lease Type
Double Net
Rent Per Square Feet
$74.54

Investment Highlights

  • New 10-Year Corporate Lease with Starbucks (NASDAQ: SBUX)
  • 10% Rental Increases Every 5 Years with Multiple Renewal Options
  • 99,419 Residents in Dense Midland Trade Area - Households and Population Projected to Increase 5% in the Immediate Area by 2028
  • New 2023 Construction with a Drive-Thru - Site has Over 500 Feet of Drive-Thru Stacking Capability, Developed to Handle High Volume Sales
  • Excellent Visibility from TX-191 / Andrews Highway (36,550 Cars per Day)
  • Adjacent to Chevron's Mid-Continent Headquarters with 600 Employees, and in Immediate Proximity to Corporate Offices for Other Energy/Oil Companies

Investment Overview

Marcus & Millichap is pleased to present for sale Starbucks in Midland, Texas. 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.” Located in the Permian Basin, the nation’s center of oil and gas production, Midland has a thriving economy and is home to many companies in the transportation, advanced manufacturing, and aerospace sectors. Midland is home to over 111,000 people, is the principal city of the Midland metropolitan statistical area, and is the county seat of Midland County, Texas.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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