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Starbucks 15229 S First St 2,293 SF Retail Building Milan, TN 38358 $3,081,081 CAD ($1,343.69 CAD/SF) 6.15% Cap Rate
Executive Summary
Katz & Associates, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the property located at 15229 South 1st Street, Milan, TN (“the Property”). Encompassing ±2,293 square feet on ±0.32-acre lot, the Property represents recent 2025 construction and is fully leased to Starbucks operating under a 10-year Lease. The Lease is corporately guaranteed by Starbucks Corporation. Founded in 1985, Starbucks (NASDAQ: SBUX) is one of the leading QSR operators in the world and drove over $36 billion in Revenue in FYE 2024 and $3.7 billion in Net Income at over 38K+ locations worldwide. Starbucks is rated BBB+ by S&P. The Property has a high-capacity drive-thru for Starbucks with a stacking plan that allows for 11 vehicles, signaling the Tenant’s high expectations for the site.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,293 SF
Building Class
B
Year Built
2025
Price
$3,081,081 CAD
Price Per SF
$1,343.69 CAD
Cap Rate
6.15%
NOI
$189,486 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.36 AC
Zoning
B-2 - Retail Business
Amenities
- Air Conditioning
Nearby Major Retailers
Property Taxes
| Parcel Number | 143-068.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $192,233 CAD | Total Assessment | $192,233 CAD |
Property Taxes
Parcel Number
143-068.00
Land Assessment
$192,233 CAD
Improvements Assessment
$0 CAD
Total Assessment
$192,233 CAD
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Starbucks | 15229 S First St
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