Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 10 Canal St
- Year built
- 2023
- Lot size
- 1.10 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple, 2,250 square foot Starbucks located at 10 Canal St, Bourne, MA 02532. Built in 2023, this single-story, 100% occupied property boasts a 9.3-year lease with a corporate guarantee from Starbucks (BBB+ credit rating). The lease commenced February 28, 2024, and expires February 28, 2034, with three 5-year renewal options. Rent increases of 5% are built in for 2029, and further increases are included at the start of each renewal option. The property sits on a 1.1-acre lot, enjoys high visibility from US Route 6 and the Sagamore Bridge, and benefits from strong demographics and high traffic counts exceeding 63,100 vehicles daily. The property's Net Operating Income (NOI) is $128,000, resulting in a 5.50% cap rate. The asking price is $2,327,272. This prime location at the "Gateway to Cape Cod" offers significant upside potential due to its strategic placement near the Sagamore and Bourne Bridges, and proximity to major roadways and popular recreational areas. The building includes a transferable 30-year roof warranty. This is a rare opportunity to acquire a high-performing, credit-rated, net-leased Starbucks investment property with substantial long-term growth potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bourne
- County
- Barnstable
- State
- Massachusetts
- Longitude
- -70.5428
- Latitude
- 41.7798
