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Starbucks - Fredericksburg VA 1699 Carl D. Silver Pky 2,850 SF Retail Building Fredericksburg, VA 22401 $3,771,350 CAD ($1,323.28 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Early Extension w/ 13+ Years Remaining | Corporate Guaranteed Lease | Scheduled Rental Increases | Options To Extend
- Fronting Carl D. Silver Parkway | Directly Off Interstate 95 | Central Park Plaza | Strong Retail Corridor
- Absolute NNN Ground Lease | Land Ownership | No Landlord Responsibilities
- Strong Demographics in 5-mile Trade Area
EXECUTIVE SUMMARY
• Early Extension with 13 years remaining with 4 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 40,200 stores
• This is the only free-standing Starbucks drive-thru in the immediate trade area, with the next closest Starbucks being nearly 2 miles away
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• The lease is corporate guaranteed by Starbucks, an investment grade (S&P: BBB+), nationally recognized, and established firm with over 40,200 stores
• This is the only free-standing Starbucks drive-thru in the immediate trade area, with the next closest Starbucks being nearly 2 miles away
• The lease features 10% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
2,850 SF
Building Class
B
Year Built/Renovated
2004/2018
Price
$3,771,350 CAD
Price Per SF
$1,323.28 CAD
Cap Rate
5%
NOI
$188,567 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.85 AC
Opportunity Zone
Yes
Zoning
PDC - Planned Development - Commercial
Parking
30 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7769-75-4619 | Improvements Assessment | $1,051,315 CAD |
| Land Assessment | $1,528,700 CAD | Total Assessment | $2,580,015 CAD |
PROPERTY TAXES
Parcel Number
7769-75-4619
Land Assessment
$1,528,700 CAD
Improvements Assessment
$1,051,315 CAD
Total Assessment
$2,580,015 CAD
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Starbucks - Fredericksburg VA | 1699 Carl D. Silver Pky
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