Starbucks - Huntsville, Alabama_Property for Sale
Starbucks - Huntsville, Alabama_Property for Sale
9010 Memorial Pkwy SW, Huntsville, AL, 35802, US

Starbucks - Huntsville, Alabama

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,498 square foot freestanding, new construction single-tenant Starbucks located at 9010 Memorial Parkway SW in Huntsville, AL (“Property” or “Asset”).

The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with approximately 10.0 years remaining on the primary lease term. The Asset features six, five-year renewal options with 10% rent increases in each option period. The Property was delivered in the middle of 2024 as a build-to-suit for the Tenant.

Located just over six miles south of downtown Huntsville, the Property sits near the southeast corner of Memorial Parkway Southwest and Cameron Road Southwest in a dense commercial corridor with high traffic counts of 68,000+ vehicles per day and over 86,000 residents within a five-mile radius. The area is highly affluent with average household incomes over $117,000 and 16.5% population growth since 2010 within a five-mile radius.

Notably, the Property is situated as an outparcel to South Huntsville Square, which attracts 2.2 million visitors annually (Placer.ai) and features strong national tenancy – including a Publix grocery store, Staples, Sport Clips, Home Depot, and Wingstop. The Asset is also adjacent to a Lowe’s and Sam’s Club as well as Grissom High School with over 1,970 students enrolled annually. The area is home to other major retailers such as Kroger, Sherwin-Williams, Dunkin’ Donuts, McDonald’s, Arby’s, CubeSmart, Circle K, PNC Bank, CrossFit, and many others. A new multi-family development is underway along Memorial Parkway that features over a 300-unit, mid-rise residential complex.

Huntsville is the largest city in Alabama and was recently ranked in the Top 10 Southeastern cities on the rise. According to U.S. News & World Report, Huntsville is the #2 Best Place to Live in the U.S. and the #1 Best Place to Live in Alabama in 2023.

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


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Attributes

Asking price
TRY 110,140,000
Cap rate
5.85%
NOI
TRY 6,444,000
Year built
2024
Building area net
232 m²
WAULT
10 years
Occupancy
100%
Land area gross
0.45 ha

Media

Investment Highlights

  • Investment Grade Tenant BBB+ (S&P)
  • 2024 Built-To-Suit Construction
  • 10-Year Lease Term Remaining
  • #125 Fortune 500 Ranking
  • 10% Rent Increase every 5 Years
  • $118K Average HHI within a 3-mi Radius
  • #1 Best Job Market in the U.S. & Best Place to Live in Alabama
  • 16.5% Population Growth Since 2010 within a 5-mi Radius
  • Primary Commercial Corridor with 68,000+ VPD
  • NN Lease Minimal Landlord Responsibilities
Starbucks - Huntsville, Alabama 4_Property for Sale

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Starbucks - Huntsville, Alabama (0 Properties)

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Last updated
20 Jun 2024