Starbucks
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Douglas Passon

Managing Partner

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PROPERTY ADDRESS

725 West 81st Ave., Merrillville, IN 46410

PROPERTY INFORMATION

Price:
$1,813,309
Cap Rate:
5.50%
Term Remaining:
10 Years
Year Built:
2017
Status:
Available

INVESTMENT HIGHLIGHTS

  • New Prototype Building Design with Drive-Thru| 2017 Construction
  • 10 Year NN Lease Commences in July | Minimal LL Responsibilities
  • 10% Rent Increases Every 5 Years Including Options
  • Guaranteed by Starbucks Corporation | S&P “A–” Credit Rating
  • E-Commerce & Internet Resistant Tenant

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a new free standing Starbucks at 725 West 81st Avenue in Merrillville, IN. The brand new ten year NN lease has four, five year options. There are ten percent rent increases every five years including each option to hedge against inflation.

The subject property is located along a major retail corridor and is surrounded by many national tenants including: Aldi, Walgreens, Meijer, Costco, Lowe’s, Best Buy, Bed, Bath & Beyond, Target and Home Depot. The population within five mile exceeds 100,000 residents. The average household income within five miles is $69,000 and the median home value exceeds $152,000. The subject property is close to Methodist Hospital (634 bed facility) and the NiSource, Inc. corporate headquarters.