Starbucks Investment Offering
10300 Central Ave, Albuquerque, NM
About this Property
Prominent intersection adjacent major employers
Starbucks Corporation as Tenant
10% increases every 5 years
6 years remaining on a 10 year Term
New construction with drive thru use
Tenant Information
Lessee: Starbucks Corp.
(NASDAQ (GS):SBUX)
Type: Public
On the web: http://www.starbucks.com
Employees: 137,000
Employee growth: (3.5%)
Wake up and smell the coffee -- Starbucks is everywhere. The world's #1 specialty coffee retailer, Starbucks has more than 16,850 coffee shops in about 40 countries. The outlets offer coffee drinks and food items, as well as roasted beans, coffee accessories, and teas. Starbucks operates more than 8,800 of its shops, which are located in about 10 countries (mostly in the US), while licensees and franchisees operate more than 8,000 units worldwide (primarily in shopping centers and airports). The company also owns the Seattle's Best Coffee and Torrefazione Italia coffee brands. In addition, Starbucks markets its coffee through grocery stores and licenses its brand for other food and beverage products.
Key numbers for fiscal year ending September, 2010:
Sales: $10,707.4M
One year growth: 9.5%
Net income: $945.6M
Trade Area Information
The trade area which services this location encompasses not only the Southeast heights, which is one of Albuquerque’s most established trade areas, but also the East Mountain area with over 55,000 residents. This location is prominently located at the intersection of Central Ave and Eubank Blvd., two of the most established arterials in the metropolitan area. Central Ave is the Historic Route 66 and was the first commercial corridor through Albuquerque, which now has 32,800 cars per day. Eubank Blvd, which has 47,100 cars per day, connects the Kirtland Airforce base and Sandia National Laboratories to the south to I-40 and all the way to the far Northeast Heights.
A few of the daytime employment generators in this area include Sandia National Laboratory, Sandia Science and Technology Park and Kirtland Airforce Base, three of New Mexico’s largest employers with over 21,000 employees. The trade area has a very mature and established day and night time population base as well as major national retailer draw. These national retailers include Costco, Wal-Mart Super Center, Sam’s Club, Target, Best Buy, Babies R Us, Office Depot, Office Max, PetSmart, Petco and Home Depot.
For Sale: $950,000
Cap Rate: 7.3%
Contact a Broker about this Property
John Sedberry, President - Office:(505) 855-7650
click to email John Sedberry