425 Henry Chapple St Billings, MT 59102

This newly constructed, freestanding Starbucks property in Billings, Montana, is secured by a 10-year triple net lease with four, 5-year renewal options, potentially extending the lease term to 30 years. The lease includes 10% rental increases every five years. The property features a drive-thru, which generates approximately 50% more revenue than non-drive-thru locations. The property is located on a pad site with frontage on Shiloh Road (21,169 VPD) and Monad Road (7,842 VPD), near the on/off ramps for Interstate 90 (31,769 VPD). It is also located approximately half a mile from Shiloh Crossing, a shopping center with 5.4 million annual visitors anchored by Scheels and Kohl’s, and featuring tenants such as Chipotle and McDonald’s. The surrounding area has over 88,000 residents and 32,000 daytime employees, with an average household income exceeding $113,000 within a 5-mile radius. Billings is experiencing residential growth, with 2,670 new housing units added between 2020 and 2024, and capital investment projects, including a new $46 million City Hall and a $950 million hospital under construction. The Starbucks property is located in a prime retail corridor with high visibility. The new drive-thru Starbucks prototype generates 50% more revenue and supports 70% of sales through mobile, drive-thru, and delivery. The property size is 2,448 square feet.