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Built-to-Suit Starbucks | New 10-Year Lease 200 Parkdale Ave 2,445 SF Retail Building Manistee, MI 49660 $3,097,977 CAD ($1,267.07 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10-Year Corporate Double-Net Lease (in process) with Four Five-Year Options | Starbucks S&P: BBB+
- Highway Visibility on US-31 / M-55 | Over 14,000 Vehicles Per Day
- Tourism & Recreation Hub | Lake Michigan Beaches, Little River Casino Resort, State Parks
- Drive-Thru + Patio Prototype | 14-Car Stacking and 29 Surface Spaces
- 1.5 Miles to 45-Bed Munson Healthcare Manistee Hospital | Major Regional Employer
- Strategic Northern Michigan Location | Serves Local Residents, Seasonal Travelers, and US-31 Corridor Traffic
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present this 2,445-square-foot, single-tenant Starbucks located at 200 E. Parkdale Avenue (US-31) in Manistee, Michigan. The store features Starbucks’ newest drive-thru + patio prototype and occupies a prominent 1.56-acre commercial parcel zoned C-1.
The property is secured by a brand-new 10-year corporate lease (double-net) with four five-year renewal options, offering investors long-term, passive income backed by Starbucks Corporation’s investment-grade credit (S&P: BBB+). The lease includes $2.00/SF rental increases every five years, including during option periods, supporting strong and growing cash flow over time.
Strategically positioned along the high-traffic US-31 / M-55 corridor—Manistee’s primary north–south artery—the site sees more than 14,000 vehicles per day. It offers excellent ingress/egress, a dedicated drive-thru with 14-car stacking capacity, and 29 surface parking spaces. Manistee’s resilient tourism and healthcare sectors further reinforce steady year-round demand.
Just 1.5 miles from Munson Healthcare Manistee Hospital and within a 10-minute drive of key economic and recreational anchors—including Little River Casino Resort, Orchard Beach State Park, and the city’s Riverwalk-connected historic downtown—the location draws consistent traffic from residents, healthcare professionals, and over 200,000 annual tourists.
This Starbucks presents a rare opportunity to acquire a brand-new, investment-grade asset with minimal landlord responsibilities in a revitalizing lakeshore market. With robust fundamentals, diverse demand drivers, and proximity to Michigan’s iconic North Pier Lighthouse and USA Today’s “Best Beach in Michigan” (2024 & 2025), the property is well-positioned for long-term success.
The property is secured by a brand-new 10-year corporate lease (double-net) with four five-year renewal options, offering investors long-term, passive income backed by Starbucks Corporation’s investment-grade credit (S&P: BBB+). The lease includes $2.00/SF rental increases every five years, including during option periods, supporting strong and growing cash flow over time.
Strategically positioned along the high-traffic US-31 / M-55 corridor—Manistee’s primary north–south artery—the site sees more than 14,000 vehicles per day. It offers excellent ingress/egress, a dedicated drive-thru with 14-car stacking capacity, and 29 surface parking spaces. Manistee’s resilient tourism and healthcare sectors further reinforce steady year-round demand.
Just 1.5 miles from Munson Healthcare Manistee Hospital and within a 10-minute drive of key economic and recreational anchors—including Little River Casino Resort, Orchard Beach State Park, and the city’s Riverwalk-connected historic downtown—the location draws consistent traffic from residents, healthcare professionals, and over 200,000 annual tourists.
This Starbucks presents a rare opportunity to acquire a brand-new, investment-grade asset with minimal landlord responsibilities in a revitalizing lakeshore market. With robust fundamentals, diverse demand drivers, and proximity to Michigan’s iconic North Pier Lighthouse and USA Today’s “Best Beach in Michigan” (2024 & 2025), the property is well-positioned for long-term success.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
2,445 SF
Building Class
C
Year Built
2025
Price
$3,097,977 CAD
Price Per SF
$1,267.07 CAD
Cap Rate
6.50%
NOI
$201,368 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.56 AC
Zoning
C-1 - Commercial
AMENITIES
- Drive Thru
NEARBY MAJOR RETAILERS
1 of 7
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Built-to-Suit Starbucks | New 10-Year Lease | 200 Parkdale Ave
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