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Starbucks Drive/Thru Ground Lease - 345 North Ave E, Cranford, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $2,475,000

  • 0

  • 4.00%

  • NOI :

  • Acres :

  • $99,000

  • 0.29

  • Property Type :

  • Property Status :

  • Net Lease

  • Available

Investment Highlights

  • Extremely Rare Starbucks Drive/Thru Only Ground Lease
  • Zero Landlord Responsibilities
  • 8+ Years Remaining on 15-Year Original Lease
  • Corporate Guaranty | NASDAQ: SBUX | S&P Credit Rating "A-"
  • 10% Rent Increases Every 5 Years
  • Next Increase 3/1/2025
  • Two 5-Year Renewal Options
  • Tremendous Location at the Signalized Intersection of North Avenue East and Elizabeth Avenue
  • Just One Block off the Garden State Parkway Exit 137
  • Starbucks, Founded in 1971, Has Grown to over 32,000 Locations Worldwide and Generates Approximately $23 Billion of Annual Revenue
  • Many Nearby National Retailers Including Quick Check, Dollar General, TD Bank, Walgreens, 7-Eleven, Dunkin', Chase
  • Bank, Wawa, Burger King, and Bank of America
  • Outstanding Demographics With Over 481,000 People Within 5 Miles and an Average Household Income Surpassing $152,000 Annually Within 1-Mile

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