Skip to main content

Restaurant

Starbucks Two Rivers

1509 Washington St, Two Rivers, WI 54241

Listing Price: $2,300,000

Cap Rate
6.10%
Tenant Name
Starbucks
Years Remaining On Lease
10.3
Guarantor
Corporate Guarantee
Rentable SF
2,262
Lease Type
Double Net
Rent Per Square Feet
$61.89

Investment Overview

Marcus & Millichap is pleased to exclusively offer a new construction Starbucks that is expected to start rent in November 2024. This is the only Starbucks location within a nine-mile radius, ensuring limited competition in the area. Ideally positioned at the heart of downtown Two Rivers, Wisconsin, the site is adjacent to three major marinas—Seagull, Lakeshore Center, and Miles Marina. The location benefits from a built-in customer base due to the town's tourism-driven economy. Situated directly in front of the Cobblestone Hotel & Suites, which features 55 rooms, the Starbucks is also just a 10-minute walk from Neshotah Beach on Lake Michigan and a five-minute walk from the East and West Twin Rivers.

The lease is corporately guaranteed by Starbucks Corporation, boasting a BBB+ credit rating. With over 10 years remaining on the lease, the agreement includes four five-year options to renew. Rental increases are scheduled every five years during the base term and option periods. The property offers a modest rental rate and price point compared to other new construction Starbucks locations. The net lease also includes limited landlord responsibilities, and the site features a drive-through with ample stacking space, as well as an outdoor patio for customers.

Located in a major tourist area and a thriving downtown center, the Starbucks benefits from nearby attractions such as the Hamilton Wood Type & Printing Museum, the Wisconsin Maritime Museum, over a dozen fishing charters, and numerous hiking trails along Lake Michigan. Two Rivers is also home to a U.S. Coast Guard station, under the Department of Homeland Security. The active downtown program, "Two Rivers Main Street," consistently hosts events throughout the year, greatly benefiting the Starbucks location with a steady stream of visitors.

Investment Highlights

  • New Construction Starbucks | Expected Rent Commencement Date November 2024
  • Only Starbucks Location within A Nine-Mile Radius | Limited Competition
  • Over 10 Years Remaining On Lease with Four, (Five) Year Options to Renew | Corporate Guarantee
  • Modest Rental Rate and Price Point in Comparison to Other New Construction Starbucks
  • Located within a Major Tourist Area and Thriving Downtown Center
  • Directly in Front of Cobblestone Hotel & Suites | 55 Rooms
  • 10 Minute Walk to Neshotah Beach (Lake Michigan) and Five Minute Walk to East/West Twin River

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Financing By

Restaurant

Starbucks Two Rivers

Listing Price: $2,300,000

Cap Rate
6.10%
Tenant Name
Starbucks
Years Remaining On Lease
10.3
Guarantor
Corporate Guarantee
Rentable SF
2,262
Lease Type
Double Net
Rent Per Square Feet
$61.89

Investment Highlights

  • New Construction Starbucks | Expected Rent Commencement Date November 2024
  • Only Starbucks Location within A Nine-Mile Radius | Limited Competition
  • Over 10 Years Remaining On Lease with Four, (Five) Year Options to Renew | Corporate Guarantee
  • Modest Rental Rate and Price Point in Comparison to Other New Construction Starbucks
  • Located within a Major Tourist Area and Thriving Downtown Center
  • Directly in Front of Cobblestone Hotel & Suites | 55 Rooms
  • 10 Minute Walk to Neshotah Beach (Lake Michigan) and Five Minute Walk to East/West Twin River

Investment Overview

Marcus & Millichap is pleased to exclusively offer a new construction Starbucks that is expected to start rent in November 2024. This is the only Starbucks location within a nine-mile radius, ensuring limited competition in the area. Ideally positioned at the heart of downtown Two Rivers, Wisconsin, the site is adjacent to three major marinas—Seagull, Lakeshore Center, and Miles Marina. The location benefits from a built-in customer base due to the town's tourism-driven economy. Situated directly in front of the Cobblestone Hotel & Suites, which features 55 rooms, the Starbucks is also just a 10-minute walk from Neshotah Beach on Lake Michigan and a five-minute walk from the East and West Twin Rivers. The lease is corporately guaranteed by Starbucks Corporation, boasting a BBB+ credit rating. With over 10 years remaining on the lease, the agreement includes four five-year options to renew. Rental increases are scheduled every five years during the base term and option periods. The property offers a modest rental rate and price point compared to other new construction Starbucks locations. The net lease also includes limited landlord responsibilities, and the site features a drive-through with ample stacking space, as well as an outdoor patio for customers. Located in a major tourist area and a thriving downtown center, the Starbucks benefits from nearby attractions such as the Hamilton Wood Type & Printing Museum, the Wisconsin Maritime Museum, over a dozen fishing charters, and numerous hiking trails along Lake Michigan. Two Rivers is also home to a U.S. Coast Guard station, under the Department of Homeland Security. The active downtown program, "Two Rivers Main Street," consistently hosts events throughout the year, greatly benefiting the Starbucks location with a steady stream of visitors.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

Financing By

MM Texture Background
MM Textured Background Lower