Starbucks - Naperville, IL_Property for Sale
Starbucks - Naperville, IL_Property for Sale
1532 Aurora Avenue, Naperville, IL, 60540, US

Starbucks - Naperville, IL

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,231 square foot freestanding, newly built single-tenant Starbucks located at 1532 Aurora Ave in Naperville, IL (“Property” or “Asset”) – an affluent suburb west of downtown Chicago.


The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with a brand new 10-year primary lease term, 10% rent increases every 5-years, and four, five-year renewal options. The Property was delivered and opened in November 2023 as a build-to-suit for the Tenant in a strategically located, heavily-trafficked location.


Located ~25 miles west of downtown Chicago, the Property sits with frontage at the intersection of Aurora Avenue and Ogden Avenue (combined 51,300+ vehicles per day) in the affluent city of Naperville. The city was most recently ranked #4 of Niche’s 2023 list of Best Cities to Live in America. Naperville is a very well educated and affluent population with an average household income of $165,000 within 5-mile radius of the Property.


More specifically, the Property is well located in the dense Western East/West Corridor submarket comprised of many blue-chip retailers as well as corporate headquarters that call Naperville home. The city benefits from a business-friendly environment with low taxes due to its location in DuPage / Will counties while still being proximate to downtown Chicago.


Investors have the ability to acquire a premier retail asset located in a fundamentally strong and highly affluent Western Chicago submarket. The asset offers secure, long-term and growing cash flow backed by an investment grade tenant with global brand name recognition. The site was purpose-built for Starbucks and is one of its newest format drive-thru locations.

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Attributes

Asking price
CA$3,151,000
NOI
CA$182,000
Cap rate
5.75%
WAULT
10 years
Year built
2023
Land area gross
3,399 sm
Occupancy
100%
Building area net
216 sm

Media

Investment highlights

  • Affluent Average Household Income of $162,000 within a 5-mile radius
  • Annual base rent of $132,745
  • Ranked 4th in 2023 of Best Cities to Live in America (Niche)
  • Primary signalized intersection with frontage to 51,300+ vehicles per day
  • AAA City of Naperville bond rating for fiscal health, and business friendly favorable tax environment
  • New 10-year NN lease with minimal landlord responsibilities
  • 10% rent increases every 5-years, and four 5-year renewal options
  • Investment Grade Tenancy (S&P: BBB+)
  • #120 Starbucks Fortune 500 ranking
  • 57.5 MSF very dense retail submarket with low vacancy
Starbucks - Naperville, IL 4_Property for Sale

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Starbucks - Naperville, IL (0 Properties)

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Last updated
May 30, 2024