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Starbucks 1313 W Ehringhaus St 2,500 SF Retail Building Elizabeth City, NC 27909 $3,401,857 CAD ($1,360.74 CAD/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

Brand new 10-year lease with an additional 6 (5-year) option periods to extend | 10% rental increases every 5 years | Corporate Signed
Situated as an outparcel to Southgate Park, a 220K+ Community Center anchored by Belk, ranked in the top 2 most visited shopping centers
Strong nearby tenants consist of Roses, Walmart Supercenter, Lowe’s, ALDI, Food Lion, Chipotle, TJ Maxx, Tractor Supply Co., and others

Starbucks 'Community Store' concept with expanded patio area with pick-up window as well as double drive-thru
Located along Ehringhaus Street with clear visibility and access to an average of 22,000 VPD
More than 30,900 residents and 17,400 employees support the trade area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, drive-thru equipped, corporate signed, Starbucks investment property located in Elizabeth City, NC. The tenant, Starbucks Corporation, recently signed a brand new 10-year lease with an additional 6 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: SBUX | S&P: BBB+) and is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1971, Starbucks is the premier roaster and retailer of specialty coffee with over 40,000 operating locations worldwide.

Elizabeth City NC - Starbucks OM