Starbucks Shops

Price: $2,450,000
Sq. Ft.: 6,836
Cap Rate: 7.43%
Built: 2006

Marcus & Millichap is pleased to present the opportunity to acquire a 6,836-square foot, three-tenant retail center in Las Cruces, New Mexico. The subject property is 100 percent occupied, and all leases are triple-net. Tenants consist of Starbucks, AT&T, and Sushi Freak. Starbucks has been in the center since 2006 and has four five-year renewal options remaining with 10 percent rent increases at the beginning of each option period. AT&T is a long-term tenant as well, having been in the center since 2007. Sushi Freak is a newly executed lease that includes annual rent bumps. Constructed in 2006, the subject property consists of two freestanding buildings situated on one acre.

  • 6,836-Square Foot, Multi-Tenant Retail Center
  • Strong Tenant Base | 75% of the Gross Leasable Area has National Credit Tenants
  • Tenants Include Starbucks, AT&T, and Sushi Freak Restaurant
  • Starbucks and AT&T have been in the Center more than Twelve Years
  • Starbucks has Four, Five-Year Renewal Options Remaining
  • Sushi Freak is a Newly Executed Lease with Annual Rent Bumps | Lease has a Personal Guarantee
  • Signalized, Hard Corner Location | Ingress and Egress Points from both North Telshor Boulevard and Commerce Drive
  • Traffic Counts are Approximately 18,000 Vehicles in Front of the Property
  • Directly Across from Sam’s Club
  • Numerous other National and Regional Tenants in the Area Including Lowe’s Home Improvement, Kohl’s, and Ashley HomeStore
  • Five-Mile Population is 115,330 Residents
  • Las Cruces is Home to New Mexico State University | Current Enrollment is 25,300 Students