2224 Douglas Hwy Gillette, WY 82718-5418

Property Details for 2224 Douglas Hwy

Year built

2007

Lot size

1.05 lot acres

Property type

Commercial real estate

APN

R0030708

APU

R0030708

Description

This exceptional investment opportunity presents a fee-simple interest in a brand-new, 2,540 square foot Starbucks drive-thru, built in 2024. Located at 2224 S Douglas Hwy, Gillette, WY 82718, this property sits on a 1.05-acre lot and benefits from a prime location directly fronting a Walmart Supercenter and other national retailers, including Hobby Lobby and Harbor Freight. The property enjoys high visibility on Douglas Highway (28,000 vehicles per day), with easy access from Interstate 90. The Starbucks lease is a corporate-backed, 10-year agreement with a 100% occupancy rate and rare 10% rental increases every five years, providing significant long-term stability and growth potential. The current NOI is $185,000, with a pro-forma NOI of $203,500, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.60%. The asking price is $3,083,333, translating to $1,213.91 per square foot. The property features ample parking (10.61 spaces per 1,000 sq ft) and is zoned for commercial use per Gillette city ordinances. This is a rare opportunity to acquire a high-performing QSR property in a thriving Wyoming market, offering ease of management and significant return on investment. The property's location within a dynamic retail corridor, coupled with the strength of the Starbucks brand and the long-term lease, makes this an attractive investment for passive investors seeking a secure and profitable asset. The property's APN is R0030708.