Contract Pending

Retail•Free Standing•For Sale

STARBUCKS IN ELIZABETH CITY, NC

109 Tanglewood Parkway, Elizabeth City, North Carolina 27909

Sale Price $1,350,000 ($613.64 /SqFt)
Sale Type Investment
Sale Condition NNN Investment
Zoning COMMERCIAL RETAIL
Tenant Yes
Bldg Type Single-Tenant
Class C
Status Existing
Year Built 2017
Stories 1
Cap Rate 5.49%
Total Avail 2,200 SqFt
RBA 2,200 SqFt
Land Area 1.58 Acres
Net Lease Realty Partners is excited to present the opportunity to acquire the fee simple interest in this corporate Starbucks Coffee site. The property was originally built in 2017. The site is well-positioned and visible along Halstead (NC-334) just off the US-17 BYP Exit which is the main Freeway system that Travels North-South just West of Elizabeth City. Situated on a Walmart out parcel, there are several other major retailers within close proximity. QSRs include McDonald’s, Zaxby’s and Subway. Shopping retailers include Hobby Lobby, GameStop, Ross, TJ Maxx, Mattress Firm, and AT&T. The subject property is on a 10-year NN lease to Starbucks with approximately 8 years remaining on the term and includes four, five-year options to renew. The lease calls for 10% rental increases to the landlord adjusted in year 6 and each option year. PRICE:$ 1,350,000 NOI: $ 74,068 / Year Cap Rate: 5.49%
  • Corporate Starbucks Coffee
  • Starbucks is the #1 Specialty Coffee Retailer in the World
  • Constructed In 2017 as the Only Freestanding Starbucks in Town
  • Double Net Lease, with Landlord Responsible for Roof & Structure, Parking Lot and Landscaping
  • 35,000+ Plus Residents within 5-mile Radius
  • 10% Rental Increases in Year Six

1 Spaces

Restaurant
2,200 SqFt
Unit
1
12/04/2019
12/4/2019 12:00:00 AM 1/17/2020 6:44:01 PM
Paul Bonanno
Broker
Net Lease Realty Partners
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