Starbucks Investment Opportunity in
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1824 Joe Harvey Blvd, Hobbs, NM 88240
NN Lease Starbucks with drive-thru in Hobbs, NM for sale.
Property Size1,752 SF
Price / SF$998.86
Days on Market1076
Property Features for 1824 Joe Harvey Blvd
General Information
Standard status
Active
Size
1,752 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$93,896
Building Details
Year Built
2014
Year Renovated
2023
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Fortis Net Lease
Listed By:
Kyle Carson · License #MI 6501384480
Source:
Crexi
Added: Sep 12, 2023
Changed: Aug 10
Last Checked: Aug 21 at 10:26PM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
This 1,752 square foot Starbucks property, equipped with a drive-thru, is located in Hobbs, New Mexico. It is subject to a ten-year NN Lease, with 6.75 years remaining. The lease includes four, 5-year options to renew, each with a 10% rent increase. The lease is corporately guaranteed by Starbucks Corporation, which holds an "A-" credit rating per S&P. The Starbucks is positioned on West Joe Harvey Boulevard, near the corner of N. Lovington Highway, benefiting from high visibility and traffic. Traffic counts show 13,707 vehicles per day on West Joe Harvey Boulevard and 20,590 vehicles per day on N. Lovington Highway. The five-mile population from the site exceeds 49,770, and the one-mile average household income exceeds $110,542 per year. This property represents an opportunity for a 1031 exchange buyer or a passive investor to acquire the fee simple ownership of a Starbucks.
Key Highlights
- Corporately guaranteed lease by Starbucks Corporation (S&P: A-)
- New ten (10) year NN Lease with 6.75 years remaining and four 5‑year renewal options.
- Located on West Joe Harvey Boulevard (13,707 VPD) near N. Lovington Highway (20,590 VPD) offering high visibility.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
362k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Superstores 28%
Shops & Services 8%
Home Improvements & Furnishings 6%
Walmart
Superstores
101,349 visits/mo
0.2 miles
McDonald's
Dining
35,300 visits/mo
0.2 miles
Rosa's Cafe
Dining
33,291 visits/mo
0.2 miles
Starbucks
Dining
24,054 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
22,051 visits/mo
0.3 miles
Demographics for 88240, NM
42,386
Population
16,490
Households
2.6
Avg Household Size
31
Median Age
17%
College-Educated
76%
High-School Grad
600.2 sq mi
ZIP Area
71
Density / Sq Mi
$65,394
Median Household Income
$37,178
Median Earnings
$1,124
Median Rent
$177,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Starbucks — 1824 Joe Harvey Blvd, Hobbs, NM 88240
- Undergrounds Coffee Co. — 3421 N Grimes St, Hobbs, NM 88240
- Hi Boba — 3734 N Grimes St suite 400, Hobbs, NM 88240
Frequently Asked Questions
What type of property is this?
Coffee shop - NN Lease Starbucks with drive-thru in Hobbs, NM for sale.
Where is this coffee shop located?
The property is located at 1824 Joe Harvey Blvd Hobbs, NM.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Corporately guaranteed lease by Starbucks Corporation (S&P: A-); New ten (10) year NN Lease with 6.75 years remaining and four 5‑year renewal options.; Located on West Joe Harvey Boulevard (13,707 VPD) near N. Lovington Highway (20,590 VPD) offering **high visibility**.
