Starbucks NN+ Investment Opportunity Listing Details & Market Data

The subject property is minutes away to interstate highways 55 and 72. Springfield is conveniently located in close proximity to St. Louis to the south; Chicago to the north and Indianapolis to the east. This central location gives Springfield a reach of over 536,000 people within a 40-mile radius.Golden Group Real Estate is proud to present a prime investment offering, located in the state capital and a popular tourist destination - Springfield. This is a freestanding 2,200 SF building with a drive thru and outdoor dining area. The property is being occupied with a national tenant - Starbucks Coffee - with 6 years left on the initial lease and two 5-year renewal options with escalations. The current owner purchased this property in 2005, after it was converted from a Taco Bell. At this proven 20-year location, the lease option was already exercised twice. Starbucks reconciles the landlord’s expenses through an annual CAM (Common Area Management) allowance. The tenant pays the property taxes, trash expenses and the property insurance is fully reimbursed through the CAM. Landlord responsibilities are the parking lot, lawn care, the roof (with the exception of anything HVAC related) and snow removal. The current owner always referred to this asset as a “2-1/2 net” investment with no early termination clause. This can be an ideal purchase for a first-time net-lease buyer with the minimal landlord’s responsibilities and the corporate guarantor (Starbucks) is a top-rated tenant. Note: the owner holds active Massachusetts real estate license and considering 1031 Exchange as a part of this transaction.