PDF Presented By NORTHSTAR - LoopNet
NORTHSTAR RETAIL GROUP | OFFERING MEMORANDUM
REPRESENTATIVE PHOTO
Presented By
NORTHSTAR
OF
INVESTMENT SUMMARY
STARBUCKS | BEMIDJI, MN
PRICE $1,800,000 5.68% CAP Rate
ADDRESS 1811 Paul Bunyan Drive Bemidji, MN 56601
APN 80.03011.00
NET OPERATING INCOME $102,215 ($45.96/SF)
BUILDING/LOT SIZE 2,224 SF / 0.72 Acres
LEASE TYPE NNN
YEAR BUILT 2017
TYPE OF OWNERSHIP Fee Simple
Marcus and Millichap exclusively presents the opportunity to acquire a freestanding Starbuck's in Bemidji, Minnesota. Starbuck's signed a ten-year lease that commences upon completion of the building, estimated to be February 1, 2018. The lease structure includes a rental increase every five years, minimal landlord responsibilities, and no early termination option. Starbucks (NYSE: SBUX) has an investment grade credit rating of "A" by Standard and Poors. They currently have over 24,000 stores in 70 countries.
The building is currently under construction. It is situated in the heart of the primary retail and medical corridor through Bemidji, surrounded by a mix of retailers including Walmart, Target, Menards, Home Depot, and the Paul Bunyan Mall. The building benefits from its location immediately adjacent to a 100 unit Super 8 Motel and one mile from the Sanford Hospital campus. The property also has direct signalized access to Paul Bunyan Drive, which is the primary thoroughfare into town with exposure to an estimated 16,000 vehicles per day.
Bemidji is a city in Northern Minnesota and is considered to be the largest commercial center between Grand Forks, ND and Duluth, MN. It is also home to Bemidji State University which is a public university with an enrollment of over 6,000 students.
Highlights:
? New 10-Year Corporate Lease
? Investment Grade Tenant - "A" Rating by S&P
? No Early Termination Option
? 2017 Construction with a Drive-Thru
? Adjacent to the Only Walmart & Target Within a 75 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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. ? 2017 Marcus & Millichap. All rights reserved.
INVESTMENT SUMMARY
STARBUCKS | BEMIDJI, MN
LEASE SUMMARY
Tenant
Starbucks Corporation
Guarantor
Corporate Guaranty
Rent Commencement (Estimated) 2/15/2018
Lease Expiration (Estimated)
2/28/2028
Renewal Options
3 ( 5 Year ) with 180 Days Notice
Lease Type
NNN
OPERATING SUMMARY
CAM
Landlord Responsible - Tenant Reimburses
Property Insurance Landlord Responsible - Tenant Reimburses
Real Estate Tax
Landlord Responsible - Tenant Reimburses
Utilities
Tenant Responsible - Pays Direct
Management Fee
Tenant Responsible - Not to exceed (i) 5% , (ii) $1.50/sf, or (iii) 15% of operating costs, whichever is less.
HVAC
Tenant Responsible for repair & maintenance
Capital Expenses
Cost to be amortized over useful life and reimbursed by Tenant annually.
RENT SCHEDULE
Date Range Years 1 - 5 Years 6 - 10
Option 1 (5 Years) Option 2 (5 Years) Option 3 (5 Years)
Annual Rent $102,215.04 $112,436.54 $123,680.20 $136,048.22 $149,653.04
Per SF $45.96 $50.55 $55.61 $61.17 $67.29
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. ? 2017 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FACING EAST
STARBUCKS | BEMIDJI, MN
16,500 VEHICLES
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. ? 2017 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FACING WEST
STARBUCKS | BEMIDJI, MN
10,200 VEHICLES
16,500 VEHICLES
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. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. ? 2017 Marcus & Millichap. All rights reserved.
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
- single tenant solutions
- the 50 fastest growing discount stores specialty retailers
- starbucks presents its five year plan for strong global
- starbucks company profile
- retail details massage mutts and makeovers
- starbucks to close teavana tea bars in new york city
- xlsx
- pdf starbucks company profile
- pdf starbucks coffee relocation store w drive thru
- docx free plan 3 0
Related searches
- pdf image vs pdf normal
- pdf to word pdf online
- edge pdf side by side
- microsoft edge pdf pages side by side
- pdf to pdf fillable converter
- difference between pdf and pdf a
- pdf vs pdf a
- pdf viewer side by side
- opinion statements presented as facts
- pdf to pdf converter online free
- pdf convert to editable pdf for free
- how is evidence presented in court