1288 Custer Rd Plano, TX 75075-7422

Property Details for 1288 Custer Rd

Year built

2023

Lot size

0.69 lot acres

Property size

2,223 SF

Property type

Commercial real estate

APN

R-2296-001-0030-1

APU

R229600100301

Description

This exceptional investment opportunity presents a brand-new, single-tenant Starbucks located at 1288 Custer Rd, Plano, TX 75075. The property boasts a 10.1-year lease (9.1 years remaining) with four 5-year renewal options, commencing December 1, 2023, and expiring December 31, 2033. The 2,223 square foot building, constructed in 2023, sits on a 0.695-acre lot and features 30 parking spaces. The lease includes 10% rent bumps every five years, providing a strong hedge against inflation. The property benefits from a corporate guarantee by Starbucks Corporation, offering financial stability and security. The net operating income (NOI) is $138,500, resulting in a 5.50% cap rate and a price per square foot of $1,132.78. The asking price is $2,518,181. This freestanding building incorporates Starbucks' latest prototype design, offering a modern and aesthetically pleasing structure. The location is highly desirable, with over 18,000 vehicles daily on Custer Rd and W. 15th Street, and an additional 193,753 on nearby US-75. The property is situated in a densely populated area with excellent demographics, boasting over 338,000 people within a 5-mile radius and average household incomes exceeding $152,000 within a 1-mile radius. Its proximity to Pitman Corners Shopping Center and the Collin Creek Mall redevelopment further enhances its value. The property is zoned Commercial F-1 and is a fee-simple ownership. This is a rare self-maintaining lease, minimizing landlord responsibilities. The property represents a compelling investment opportunity in a strong Texas market.

Location Insight

City

Plano

County

Collin

State

Texas

Longitude

-96.7332

Latitude

33.0172

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments