STARBUCKS - LoopNet STARBUCKS 4.85% CAP $1,814,000 PRICE New construction Corporate Starbucks...

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Transcript of STARBUCKS - LoopNet STARBUCKS 4.85% CAP $1,814,000 PRICE New construction Corporate Starbucks...

  • NOR

    LITTLETON, CO

    RECENTLY OPENED CORPORATE STARBUCKS WITH DRIVE-THRU

    STARBUCKS

    OPENED SEPT. 13

  • BRAND NEW OUTPARCEL WITHIN THE WOODLAWN SHOPPING CENTER IN AFFLUENT DENVER SUBURB

    OPENED SEPT. 13

    COMING SOON

    2

  • STARBUCKS

    4.85% CAP

    $1,814,000 PRICE

    New construction Corporate Starbucks

    Outparcel within the WoodLawn Shopping Center (92% occupied)

    10-year net lease; no early lease termination

    Relocation of successful store from nearby King Soopers Center

    Littleton is an affluent suburb of Denver, with Average Household Incomes of $111,787 within a 5-mile radius

    This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    LEASABLE SF 2,000 SF

    LEASE TERM 10 Years

    LEASE TYPE Corp. Net Lease

    LAND AREA 0.7 AC

    YEAR BUILT 2019

    PARKING 28 Spaces

    1500 W LITTLETON BLVD, LITTLETON, CO 80120

    3

    Overview

    https://www.google.com/maps/place/Woodlawn+Center/@39.6129273,-105.005574,603m/data=!3m1!1e3!4m5!3m4!1s0x0:0x7a8d8ad6bb33fad0!8m2!3d39.6121534!4d-105.005784 https://www.google.com/maps/place/Woodlawn+Center/@39.6129273,-105.005574,603m/data=!3m1!1e3!4m5!3m4!1s0x0:0x7a8d8ad6bb33fad0!8m2!3d39.6121534!4d-105.005784 https://www.google.com/maps/place/Woodlawn+Center/@39.6129273,-105.005574,603m/data=!3m1!1e3!4m5!3m4!1s0x0:0x7a8d8ad6bb33fad0!8m2!3d39.6121534!4d-105.005784 https://www.google.com/maps/place/Woodlawn+Center/@39.6129273,-105.005574,603m/data=!3m1!1e3!4m5!3m4!1s0x0:0x7a8d8ad6bb33fad0!8m2!3d39.6121534!4d-105.005784

  • THE OFFERING provides an investor with the opportunity to acquire a build-to-suit Starbucks drive-thru outparcel within the WoodLawn Shopping Center in Littleton, CO. Construction was recently completed on the subject property, and Starbucks commenced a 10-year lease on September 13, 2019. The lease structure features defendable rents with 10% rental increases every five years, in addition to four 5-year extension options. Starbucks relocated from the King Soopers anchored shopping center just east of the subject property on W Littleton Boulevard, reflecting the appeal of being positioned within the WoodLawn center. W Littleton Boulevard is a well-trafficked road running east-west (24,758 VPD), which connects South Broadway to U.S. Route 85, which is the main north-south arterial that funnels into downtown Denver (62,668 VPD).

    Contact the team

    RELOCATION OF SUCCESSFUL STORE FROM KING SOOPERS CENTER LOCATED DOWN THE STREET

    This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    THE RETAIL MARKET - Littleton has a strengthening economy that has coincided with the impressive ongoing growth taking place in Denver. This spillover effect has led to increases in development in Littleton, which has received a 200% increase in development applications over the last five years. Neighboring retailers within the WoodLawn center include a mix of daily needs tenants that include Family Dollar, Anytime Fitness, Sherwin-Williams, as well as Dollar Tree which is moving into the center later this fall. To the east of the subject property is Littleton High School (1,200+ students), and to the southwest is the Arapahoe Community College (20,000+ students).

    CHRIS KOSTANECKI ck@capitalpacific.com PH: 415.274.2701 CA DRE# 01002010

    ZEB RIPPLE zripple@capitalpacific.com PH: 415.274.2702 CA DRE# 01242540

    CHRIS PETERS cpeters@capitalpacific.com PH: 415.274.2703 CA DRE# 01339983

    JACK NAVARRA jnavarra@capitalpacific.com PH: 415.274.2705 CA DRE# 01909630

    IN CONJUNCTION WITH CO LICENSED BROKER: David Leuthold Leuthold Commercial Properties 303.871.9000

    4

    Investment Highlights

  • 85

    85

    W LITTLETON BOULEVARD W ALAMO AVENUE

    W MAIN STREET

    W BOWLES AVENUE

    E LITTLETON BOULEVARD

    S B

    RO A

    D W

    AY S

    B RO

    A D

    W AY

    S W

    IN D

    ER M

    ER E

    ST RE

    ET S

    W IN

    D ER

    M ER

    E ST

    RE ET

    12,745 VPD

    31,916 VPD

    58,640 VPD

    SCHOOL

    ARAPAHOE COUNTY

    ARAPAHOE COUNTY

    CITY OF LITTLETON

    CITY OF LITTLETON

    CITY OF LITTLETON

    HIGH SCHOOL

    GOLF COURSE

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    ARAPAHOE COMMUNITY

    COLLEGE

    DENVER SEMINARY

    22,490 VPD

    24,758 VPD

    62,668 VPD

    DENVER (11 MILES)

    5This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    LI G

    H TR

    A IL

    LI GH

    TR AI

    L

    DOWNTOWN LITTLETON

    THE SUBJECT PROPERTY IS LESS THAN 1/2 MILE FROM THE

    LITTLETON DOWNTOWN RTD LIGHT RAIL STAION

    LITTLETON DOWNTOWN

    STATION

    5

    Zoomed-In Aerial

  • 85

    85

    85

    285

    285

    BROADWAYBROADWAY

    W B

    O W

    LE S

    AV EN

    U E

    W L

    IT TL

    ET O

    N

    B O

    U LE

    VA RD

    31,916 VPD

    76,000 VPD

    51,957 VPD

    58,640 VPD

    32,950 VPD

    76,000 VPD

    ARAPAHOE COMMUNITY

    COLLEGE

    SWEDISH MEDICAL CENTER CRAIG

    HOSPITAL

    ACADEMY

    ACADEMY

    SCHOOL

    SCHOOL SCHOOL

    MIDDLE SCHOOL

    MIDDLE SCHOOL

    HIGH SCHOOL

    HIGH SCHOOL

    MUSEUM OF

    OUTDOOR ARTS

    HIGH SCHOOL

    HIGH SCHOOL

    HIGH SCHOOL

    CITY OF SHERIDAN

    GOLF COURSE

    GOLF COURSE

    GOLF COURSE

    GOLF COURSE

    SPORTS COMPLEX

    GOLF COURSE

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    ELEMENTARY SCHOOL

    DENVER SEMINARY

    24,758 VPD

    6This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    DENVER (11 MILES)

    6

    Zoomed-Out Aerial

  • Family Dollar Anytime Fitness Sherwin Williams 7-Eleven USPS Arc Thrift Store Metro by T-Mobile

    King Soopers Chipotle Wells Fargo Bank Subway Tesla Romano’s Pizzeria Taylor Automotive

    Littleton Cafe Woodlawn Liquors Wash House Laundromat Taco House

    This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    Submarket Overview

    RETAILERS IN CLOSE PROXIMITY INCLUDE:

    BUSINESS SUMMARY

    KEY 1-MILE 3-MILES 5-MILES 7

    LITTLETON

    ENGLEWOOD

    HIGHLANDS RANCH

    CENTENNIAL

    TOTAL 1-MILE 3-MILES 5-MILES

    Businesses 1,070 4,950 12,100

    Employees 10,454 49,698 122,275

    Residential Population 15,505 95,153 280,317

    Avg Household Incomes $69,649 $103,682 $111,787

  • 8

    Surrounding Retail

  • This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    PRICE $1,814,000 Price Per Square Foot: $907.00

    Capitalization Rate: 4.85%

    Total Rentable Area (SF): 2,000

    Lot Size (AC): 0.70

    STABILIZED INCOME PER SQUARE FOOT Scheduled Rent $44.00 $88,000

    Effective Gross Income $44.00 $88,000

    LESS PER SQUARE FOOT Taxes NNN $0.00

    Insurance NNN $0.00

    Total Operating Expenses NNN $0.00

    EQUALS NET OPERATING INCOME $88,000

    9

    Income & Expense

  • This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

    TENANT INFO LEASE TERMS RENT SUMMARY

    TENANT NAME SQ. FT. CURRENT RENT MONTHLY

    RENT YEARLY

    RENT MONTHLY RENT/FT

    YEAR RENT/FT

    Starbucks 2,000 09/13/19 09/30/24 $88,000 $7,333 $88,000 $3.67 $44.00

    10/01/24 09/30/29 $8,067 $96,800 $4.03 $48.40

    Option 1 10/01/29 09/30/34 $8,873 $106,480 $4.44 $53.24

    Option 2 10/01/34 09/30/39 $9,760 $117,120 $4.88 $58.56

    Option 3 10/01/39 09/30/44 $10,737 $128,840 $5.37 $64.42

    Option 4 10/01/44 09/30/49 $11,810 $141,720 $5.91 $70.86

    TOTALS: 2,000 $88,000 $7,333 $88,000 $3.67 $44.00

    10

    Rent Roll

  • BASE RENT

    DATE RANGE MONTHLY RENT ANNUAL RENT