Current Use by Public Records
- Retail properties & Spaces
Property Details for 204 Us-321
- Year built
- 2023
- Lot size
- 0.78 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a fee-simple owned, 2,200 square foot Starbucks located in Hickory, NC, at a high-traffic intersection (US-321 & 2nd Ave NW), averaging 52,300 vehicles per day. Built in 2023, this property boasts a double drive-thru, ensuring operational efficiency. The current lease, signed by Starbucks (a credit-rated, corporate-guaranteed tenant), has 11.3 years remaining with six 5-year renewal options, each including a 5% rent increase. The property's strong financials are reflected in a 5.40% cap rate and a net operating income (NOI) of $145,000. The lease is a Net Lease (NNN), minimizing landlord responsibilities to roof, structure, foundation, and electrical systems. The 0.775-acre lot is zoned C-2 (General Business), and the property benefits from a strong surrounding retail environment, including McDonald's, Dunkin', and Walmart. The 10-mile trade area boasts over 159,000 residents and 6,400 employees, with an average household income of $86,722. This is a low-management, high-yield investment with significant long-term potential. The asking price is $2,685,000, translating to $1,220.45 per square foot. This represents a compelling opportunity to acquire a well-positioned, high-performing Starbucks location with a proven track record of success.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Catawba
- State
- North Carolina
- Longitude
- -81.3646
- Latitude
- 35.7354
