Current Use by Public Records
- PJ White SR22 Insurance / Business Management Consultant
Property Details for 13530 Highway 6
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, 2,300 square foot Starbucks located in the thriving Santa Fe, Texas suburb, at 13530 Hwy 6, zip code 77510. The property sits on a 32,000 square foot lot and is classified as Class A retail, operating under a Net Lease (NNN) agreement. The current tenant, Starbucks, is credit-rated and backed by a corporate guarantee, ensuring a secure investment. The lease boasts a remaining term of 7 years with a 10-year initial term and a one-time kick-out option after 7 years. Rent increases are structured with 10% bumps every five years, providing consistent growth potential. Expenses are passed through to the tenant. The property currently enjoys 100% occupancy, with an occupancy date of November 1st, 2024. The asking price is $2,568,857, translating to a price per square foot of $1,116.89 and a compelling 5.25% cap rate based on a Net Operating Income (NOI) of $134,865. This build-to-suit Starbucks represents a rare opportunity for investors seeking a stable, high-performing asset in a rapidly growing market. The property is ideally suited for a 1031 exchange. Galveston County location.
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
- Santa Fe
- County
- Galveston
- State
- Texas
- Longitude
- -95.1088
- Latitude
- 29.3798
