Investment Overview

Marcus & Millichap is pleased to present this 2,445-square-foot, single-tenant Starbucks located at 200 E. Parkdale Avenue (US-31) in Manistee, Michigan. The store features Starbucks’ newest drive-thru + patio prototype and occupies a prominent 1.56-acre commercial parcel zoned C-1. The property is secured by a brand-new 10-year corporate lease (double-net) with four five-year renewal options, offering investors long-term, passive income backed by Starbucks Corporation’s investment-grade credit (S&P: BBB+). The lease includes $2.00/SF rental increases every five years, including during option periods, supporting strong and growing cash flow over time. Strategically positioned along the high-traffic US-31 / M-55 corridor—Manistee’s primary north–south artery—the site sees more than 14,000 vehicles per day. It offers excellent ingress/egress, a dedicated drive-thru with 14-car stacking capacity, and 29 surface parking spaces. Manistee’s resilient tourism and healthcare sectors further reinforce steady year-round demand. Just 1.5 miles from Munson Healthcare Manistee Hospital and within a 10-minute drive of key economic and recreational anchors—including Little River Casino Resort, Orchard Beach State Park, and the city’s Riverwalk-connected historic downtown—the location draws consistent traffic from residents, healthcare professionals, and over 200,000 annual tourists. This Starbucks presents a rare opportunity to acquire a brand-new, investment-grade asset with minimal landlord responsibilities in a revitalizing lakeshore market. With robust fundamentals, diverse demand drivers, and proximity to Michigan’s iconic North Pier Lighthouse and USA Today’s “Best Beach in Michigan” (2024 & 2025), the property is well-positioned for long-term success.