Starbucks - Hammond, IN
906 Indianapolis Blvd Hammond , IN 46327

Starbucks - Hammond, IN - retail for sale

Download offering memorandum:

Overview



JLL is pleased to offer for sale the fee simple interest in a freestanding Starbucks (the “Property” or “Asset”) located in Hammond, Indiana (Chicago MSA).

The Property is a newly constructed, freestanding retail building leased to Starbucks, the world’s leading coffee provider with over 30,000 retail locations and $24.7 billion in annual revenue. Starbucks is operating on a newly-signed net lease with ten years of primary term remaining and ten percent rental increases every five years throughout the primary term and renewal options. Located along Indianapolis Boulevard (30,000 VPD) and proximate to Interstate 90 (50,000 VPD), the Property sits within a highly-trafficked thoroughfare that includes the area’s largest employers including Walmart, Horseshoe Hammond Casino, Cargill, and Unilever. This offering presents the opportunity to acquire a brand new retail asset leased to an investment-grade and industry-leading tenant with minimal landlord obligations.


Investment highlights


  • Located in Chicago MSA with over 168,000 residents in a five-mile radius
  • Newly-constructed property with modern drive-thru format
  • Located on signalized intersection along Indianapolis Boulevard (30,000 VPD)
  • Newly-signed ten-year least to Starbucks (Moody's 'Baa1')
  • Net lease structure with ten percent rental increases every five years throughout the primary term and renewal options
  • Located near Horseshoe Casino, Indiana's largest casino with 3.3 million annual visitors
General
Property type Retail
Tenure type Sale/Purchase
Property address 906 Indianapolis Blvd, Hammond, IN 46320-1005
Building size 2,100  ft2
Year built 2019
Financial
Price $1,783,000
Cap rate 5.30%
Current NOI $94,500.00
Lease
Tenant's name Starbucks Corporation
Credit rating (Moody's) Baa1
Lease type NN
Annual rent $2,100.00
Lease expiration date 09/30/2029
Remaining term 9.8Yrs

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