Starbucks 1480 W Chinden Blvd 2,200 SF Retail Building Meridian, ID 83646 $3,437,502 CAD ($1,562.50 CAD/SF) 5.35% Cap Rate

KW Commercial has been exclusively retained to offer for sale a Corporate Starbucks in Meridian, ID (Boise MSA). Located within Eagle Island Marketplace, and an outparcel to one of the top 3 visited Fred Meyer grocery stores in the state of Idaho, this store is well positioned for continued sales growth. Average HH income, within 1 mile of the subject property, is $167k+. There are 7+ schools (elementary, middle and high schools) within 2 city blocks of the subject property. Nearby retailers include McDonalds, Winco, Taco Bell, O’Reilly and Chase Bank, among many others.
Starbucks executed a 10 year corporate lease and opened this new construction store in early 2020, right in the middle of COVID. Due to the strength of this tenant, and the fact that this property lies within the a leading grocery anchored shopping center, there was no doubt the store would be a success. There are approximately 5+ years remaining on the initial lease term, and the tenant has 4 - 5 year options to extend the lease. The lease does not contain an “early lease termination” clause. The rent increases 10% every 5 years (next increase is 5/1/30), including the same 10% increases during option periods.
Starbucks’ store is tastefully designed (interior and exterior), has an efficient drive thru, and is situated on a highly visible 0.84 acre parcel.