Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    New Starbucks in Milan, TN Title is generated by Realmo AI

    15199 S First St, Milan, TN 38358

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Recently constructed Starbucks with a corporate-backed 10-year lease.

    Type:RETAIL
    Property size:
    16,232 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $138/SF
    Added:
    May 19, 2026
    Days on Market:
    13
    Last Refresh:
    May 19 at 10:40 pm

    Property Features for 15199 S First St

    General Information

    Standard status
    Active
    Size
    16,232 SF
    Lot size
    0.32 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Ashley Cusker
    Ashley Cusker

    Listing agent Ashley Cusker

    Listing office Katz & Associates | Nashville

    Listing date May 19, 2026

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Katz & Associates | Nashville

    HighLights

    • Brand new construction completed in 2025
    • Tenant is Starbucks (NASDAQ: SBUX), a leading QSR operator
    • Corporate guarantee from Starbucks Corporation
    • Fully leased to Starbucks under a 10‑year lease
    • Property size is ±2,293 square feet on ±0.32‑acre lot
    • Starbucks drove over $36 billion in Revenue in FYE 2024 and $3.7 billion in Net Income

    Overview

    The property, located at 15229 South 1st Street, Milan, TN, features a building of approximately 2,293 square feet situated on a lot of approximately 0.32 acres. Constructed in 2025, the property is fully leased to Starbucks under a 10-year lease. The lease is corporately guaranteed by Starbucks Corporation. Starbucks, founded in 1985, is a leading QSR operator with over 38,000 locations worldwide. In FYE 2024, Starbucks drove over $36 billion in Revenue and $3.7 billion in Net Income.
    Location Intelligence

    Current Use by Public Records

    Coffee shops

    Suggested Use

    Real Estate Agency Restaurant Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milan
    County
    Gibson
    State
    Tennessee
    Longitude
    -88.746294
    Latitude
    35.88101

    Nearby Similar for Sale

    • $650,000
      6,480 SF

      Renovated Commercial Space in Milan

      6,400+ sq ft renovated building suitable for retail or fitness.
      1077 S Main Street, Milan, TN 38358
      View Details
    • $299,900
      5,784 SF

      Commercial Building in Milan, TN

      5,784 SF commercial building on 0.96 acres for sale.
      1039 W Van Hook Street, Milan, TN 38358
      View Details
    • $239,900
      5,800 SF

      Trucking Terminal and Warehouse Opportunity

      Prime Milan, Tennessee trucking terminal and warehouse for sale.
      5009 W Van Hook Street, Milan, TN 38358
      View Details
    • $475,000
      4,176 SF

      Turnkey Multifamily Investment Opportunity

      Five-unit multifamily property in Milan, Tennessee, near schools and shopping.
      1137 Argus Street, Milan, TN 38358
      View Details
    • $54,900
      1,320 SF

      Milan Commercial Building Redevelopment Potential

      Downtown Milan commercial building with excellent visibility and redevelopment potential.
      1108 S Main Street, Milan, TN 38358
      View Details
    • $179,900
      1,143 SF

      Milan Commercial Building For Sale

      Stand-alone building in high-traffic area, suitable for various businesses.
      1053 N Main Street, Milan, TN 38358
      View Details
    • $650,000
      5,000 SF

      Modern Auto Shop with Bay Doors

      5,000 sq ft shop with 8 bay doors.
      3029 & 3025 Highland Street, Milan, TN 38358
      View Details
    • $159,900
      1,600 SF

      Milan TN Duplex For Sale

      Duplex in Milan, TN with great rental or owner-occupant potential.
      3030 W A & B Main Street W, Milan, TN 38358
      View Details
    • $125,000
      1,200 SF

      Downtown Commercial Building For Sale

      1,200 SF commercial building in vibrant downtown area.
      1124 S Main Street, Milan, TN 38358
      View Details
    • $125,000
      1,200 SF

      Downtown Milan Commercial Building For Sale

      1200 SF commercial building in downtown Milan, Tennessee.
      1124 S Main Street, Milan, TN 38358
      View Details
    • $135,000
      1,320 SF

      Milan TN Duplex Investment

      Cash-flowing duplex with solid rental history in Milan, Tennessee.
      1099-1101 N 1st Street, Milan, TN 38358
      View Details
    • $650,000
      5,000 SF

      Modern Shop in Excellent Condition

      Two-year-old, 5,000 sq ft shop with modern amenities.
      3029 & 3025 Highland Street, Milan, TN 38358
      View Details

    FAQs

    What type of property is this?
    Coffee shop - Recently constructed Starbucks with a corporate-backed 10-year lease.
    Where is this coffee shop located?
    The property is located at 15199 S First St Milan, TN.
    What is the asking price?
    The asking price for this property is $2,243,903.
    What are key features of this property?
    This property features: Brand new construction completed in 2025; Tenant is Starbucks (NASDAQ: SBUX), a leading QSR operator; Corporate guarantee from Starbucks Corporation
    (201) 731-8511 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ashley Cusker
    Ashley Cusker
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15199 S First St, Milan, TN 38358
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!