Starbucks - Cullman, AL_Property for Sale
Starbucks - Cullman, AL_Property for Sale
5445 AL-157, Cullman, AL, 35055, US

Starbucks - Cullman, AL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,500 square foot, single-tenant Starbucks located at 5445 Hwy 157 in Cullman, Alabama (“Property” or “Asset”).


The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with a brand new 10.0-year primary lease term with a 10.0% rent increase in year 6 and throughout each of the six (6), five-year options. The Property opened at the beginning of August 2024 as a build-to-suit for the tenant.


Located in the heart of Alabama’s automotive manufacturing belt 35 miles south of Huntsville and 45 miles north of Birmingham, the property sits between I-65 and Highway 31 along Highway 157, with elevated traffic counts of 21,000+ vehicles per day. The area surrounding the asset is surging with industrial investment, totaling $489M across 11 capital projects in 2023. The property’s population within a 5- mile radius of the site has grown 17% since 2010, and average household incomes expected to grow 13% over the next 5-years ($103,117).


Notably, the Property is positioned as an outparcel to a 189,000 SF Walmart anchored shopping center in strong a retail corridor, and the Walmart draws 2.4 million visitors annually, per Placer Ai. Prominent retail brands adjacent to the site include national Panda Express, Little Caesars, Zaxby’s, KFC and Wendy’s. The location is in a heavily trafficked area less than a mile from the nearest exits to I-95 and Hwy 31, providing direct access to daily traffic amounts of nearly 87,000+ people.


This unique opportunity allows investors the ability to acquire a retail asset located in a fundamentally strong and high-growth market. The asset offers secure, long-term cash flow backed by an investment grade tenant with global brand name recognition. 


...

Attributes

Asking price
₩4,027,381,000
NOI
₩241,224,000
Cap rate
6%
WALT
10 years
Year built
2024
Building area net
232 m²
Land area gross
0.49 ha
Occupancy
100%

Media

Investment Highlights

  • Rare 10-Yr Corporate Starbucks Lease with 10% Rent Increases in Year 6 and Options with Minimal Landlord Responsibilities
  • Global Tenancy (S&P: BBB+) & Ranked #125th in Fortune 500
  • Brand New 2024 Build with an oversized 1.2 AC Lot
  • Anchored to a Walmart the #1 Big Box Retailer in the U.S. (2.4M annual visits per Placer.ai)
  • Over 17% Population Growth Since 2010 within a 5-mi Radius
  • Cullman is Ranked 2nd in Top 10 U.S. Micropolitan (per Site Selection Magazine, 2023)
  • Over $489M Local Cullman Investment On Projects in 2023
  • 3.5-MI From Cullman Regional Medical Center a 175-Bed Hospital
Starbucks - Cullman, AL 4_Property for Sale

Contact brokers

Starbucks - Cullman, AL (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
7 Oct 2024