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Starbucks 1085 Mid City Dr NW 2,500 SF Retail Building Huntsville, AL 35806 $5,899,037 CAD ($2,359.61 CAD/SF) 4.75% Cap Rate
Investment Highlights
- Brand New 10 Yr. NN Corp. Lease by Starbucks (NASDAQ: SBUX) - Single Drivethru
- True Trophy Site Next to TopGolf - Epicenter of Retail Trade Area The Camp/Huntsville Amphitheater
- Next to Cummings Research Park - 2nd Largest Research Park in the U.S. Over 100K High Tech Workers
- Legacy NNN Opportunity Portion of Mid City District Mixed Use Master Planned/High-Tech District
- Best in Class/Iconic Brand - World Largest Coffee House Chain (36K+ Locations) $115B+ CAP
- 9th Highest Concentration Human Capital - Twice the Job/Population Growth Most Affordable Tech City
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire a single tenant net leased Starbucks Coffee in Huntsville, AL—the largest and fastest growing city in the state. Starbucks is a publicly traded company with an investment grade credit rating and operates 41,118 stores. This store was constructed new in 2023 and has over 7 years remaining in the primary term with four 5-year option periods, 10% rent increases every 5 years and limited landlord responsibilities providing years of inflation resistant income.
The subject property is in the center of MidCity District, a 40-acre redevelopment project prioritizing fitness and recreation, public gathering areas, walkable streets, inspired architecture, vibrant neighborhoods and intimate spaces. The redevelopment comprises over 660,000 SF of curated retail, 400,000 SF of modern office space, over 1,800 multi-family units and 925 hospitality room. Attractions include the Orion Amphitheater (8,000 capacity concert venue), The Camp (placemaking destination), Top Golf, Dave & Buster’s, High Point Climbing & Fitness, REI and more.
MidCity District and the subject property are adjacent to Cummins Research Park, the second largest research park in the country and fourth largest in the world. Over 300 companies occupy 3,800+ acres and employ over 26,000. A few of these companies include Lockheed Martin, Northrop Grumman, Boeing, Airbus, Raytheon, Blue Origin, IBM, NASA, and the U.S. Space and Rocket Center.
The subject property is in the center of MidCity District, a 40-acre redevelopment project prioritizing fitness and recreation, public gathering areas, walkable streets, inspired architecture, vibrant neighborhoods and intimate spaces. The redevelopment comprises over 660,000 SF of curated retail, 400,000 SF of modern office space, over 1,800 multi-family units and 925 hospitality room. Attractions include the Orion Amphitheater (8,000 capacity concert venue), The Camp (placemaking destination), Top Golf, Dave & Buster’s, High Point Climbing & Fitness, REI and more.
MidCity District and the subject property are adjacent to Cummins Research Park, the second largest research park in the country and fourth largest in the world. Over 300 companies occupy 3,800+ acres and employ over 26,000. A few of these companies include Lockheed Martin, Northrop Grumman, Boeing, Airbus, Raytheon, Blue Origin, IBM, NASA, and the U.S. Space and Rocket Center.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,500 SF
Building Class
B
Year Built
2023
Price
$5,899,037 CAD
Price Per SF
$2,359.61 CAD
Cap Rate
4.75%
NOI
$280,256 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.69 AC
Opportunity Zone
Yes
Parking
32 Spaces (12.8 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-09-31-0-000-013.009 | Improvements Assessment | $197,884 CAD |
| Land Assessment | $173,056 CAD | Total Assessment | $370,941 CAD |
Property Taxes
Parcel Number
14-09-31-0-000-013.009
Land Assessment
$173,056 CAD
Improvements Assessment
$197,884 CAD
Total Assessment
$370,941 CAD
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Starbucks | 1085 Mid City Dr NW
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