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Restaurant

Starbucks

3031 FM 1960, Houston, TX 77073

Listing Price: $1,840,000

Cap Rate
5.06%
Tenant Name
Starbucks
Years Remaining On Lease
5.6
Gross SF
1,758
Guarantor
Subsidiary of a Corporation
Rentable SF
1,758
Price/Gross SF
$1,046.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.00

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a single-tenant net-leased Starbucks, located at 3031 FM 1960 Road East, Houston, Texas. The 1,758 square foot building is situated on approximately 0.52 acres at the hard-corner, signalized intersection of FM 1960 Road East (42,747 vehicles per day) and Aldine Westfield Road (22,516 vehicles per day). Starbucks has occupied the property since its initial construction in 2006 and has continued to show commitment to the area by exercising two renewal options. The lease is scheduled to expire on February 28, 2027, with three 5-year renewal options, through February 2042. Starbuck’s base rent is scheduled to increase by ten percent for each 5-year renewal option.

Investment Highlights

  • Attractive Rent Increases – Lease Features 10% Scheduled Rent Increases Every Five Years, Which is Higher Than New Construction Starbucks Leases That Have 7.5% Rent Increases Every Five Years
  • Hard-Corner Signalized Intersection – Excellent Access and Visibility Along FM 1960 (42,747 Vehicles Per Day) & Aldine Westfield (22,516 Vehicles Per Day).
  • Dominant Starbucks in Submarket – Only Freestanding Starbucks Within Five Miles
  • Dedicated to Location - Starbucks Has Executed Two 5-Year Renewal Options Early, Committed to This Store Since 2006

Exclusively Listed By

Listing Price: $1,840,000

Cap Rate
5.06%
Tenant Name
Starbucks
Years Remaining On Lease
5.6
Gross SF
1,758
Guarantor
Subsidiary of a Corporation
Rentable SF
1,758
Price/Gross SF
$1,046.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.00

Investment Highlights

  • Attractive Rent Increases – Lease Features 10% Scheduled Rent Increases Every Five Years, Which is Higher Than New Construction Starbucks Leases That Have 7.5% Rent Increases Every Five Years
  • Hard-Corner Signalized Intersection – Excellent Access and Visibility Along FM 1960 (42,747 Vehicles Per Day) & Aldine Westfield (22,516 Vehicles Per Day).
  • Dominant Starbucks in Submarket – Only Freestanding Starbucks Within Five Miles
  • Dedicated to Location - Starbucks Has Executed Two 5-Year Renewal Options Early, Committed to This Store Since 2006

Investment Overview

Marcus & Millichap is pleased to exclusively list for sale a single-tenant net-leased Starbucks, located at 3031 FM 1960 Road East, Houston, Texas. The 1,758 square foot building is situated on approximately 0.52 acres at the hard-corner, signalized intersection of FM 1960 Road East (42,747 vehicles per day) and Aldine Westfield Road (22,516 vehicles per day). Starbucks has occupied the property since its initial construction in 2006 and has continued to show commitment to the area by exercising two renewal options. The lease is scheduled to expire on February 28, 2027, with three 5-year renewal options, through February 2042. Starbuck’s base rent is scheduled to increase by ten percent for each 5-year renewal option.

Exclusively Listed By

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