3027 Covington Pike - Retail FOR SALE
Memphis, TN 38128 |
3027 Covington Pike
Memphis, TN 38128
HIGHLIGHTS
- New 10.5-year corporate NN+ lease to Starbucks Corporation (NASDAQ: “SBUX”)
- Investment-grade tenant, rated “BBB+” by Standard & Poor’s
- Rare 1.5% annual rental increases in initial term and option periods
- Starbucks is the world’s premier coffee company, with over 38,038 locations and $35.9 billion in annual revenue
- Per Statista, customers go to Starbucks six times per week on average
- Approximately 60 million Starbucks customers are served every week, while approximately four million coffee-based beverages are sold daily
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY TYPE
Retail
ADD'L SUBTYPES
Fast Food, Freestanding, Storefront
TOTAL BUILDING SIZE
2234
STORIES
1
YEAR BUILT
2024
SPRINKLERS
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PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
08-7053-0-0054
