Starbucks

3134 Dr. Martin Luther King Jr. Blvd - New Bern NC 28562

LTV (Loan to Value)	65.00%	Current NOI	$9,129,750.00
Interest Rate	4.250%	Capital Rate	5.130%
Fixed Term	10 Years	Land Area	0.37 Acres
Amortization	25 Years	Lease Type	NN
Loan Amount	$1,156,805.00	Property Type	Retail
Payment	$6,266.85	Property Lease	Food Service
Bulding Size	1,850 SF	Remaining Terms	10 Years

Location Description

NNN Lenders is pleased to present to qualified investors the opportunity to acquire 100% fee simple interest in the Starbucks (the “Property”) located in New Bern, North Carolina.Constructed as a built-to-suit for the tenant in 2015, this corporately-backed Starbucks will occupy a 1,850 SF building with drive-thru on an approximately 0.37 acre out pad to New Bern Mall. Upon rent commencement in October 2015, Starbucks will operate under a 10 year lease term with 10% rent increases every 5 years. There are two (2) , five (5) year option periods.The NN lease structure requires the tenant to pay a fixed amount of additional rent monthly towards the cost of real estate taxes, insurance and CAM. The landlord is responsible for the roof, structure and parking.The Property is located at a signalized entrance to the New Bern Mall in the community’s primary retail trade area. Anchored by the intersection of U.S. 70 (27,086 VPD) and Martin Luther King Jr. Boulevard (30,299 VPD), this busy corridor includes Walmart Supercenter, Target, Lowe’s, Petsmart, Big Lots, Chick-fil-A, Wells Fargo, Verizon and Sherwin Williams among others.

Highlights

Corporate Starbucks Lease – Investment backed by Starbucks Corporation, the world’s largest Coffee corporation with an S&P rating of A-/Stable.Long-term…

Property Description

New Bern is a city in Craven County, North Carolina. As of the 2010 census it had a population of 29,524, which had risen to an estimated 30,242 as of 2013. It is the county seat of Craven County and the principal city of the New Bern micropolitan area.Major employers in Craven County include 2nd Marine Aircraft Wing (7,016 employees), Fleet Readiness Center East (3,512 employees), Cherry Point Air Station (2,219 employees), Craven County Hospital (2,100 employees) and Craven County Schools (1,917 employees).There are many Industries in New Bern, particularly near the Craven County Industrail Park, however, as a whole the larger industries are spread out and include Weyerhaeuser, Hatteras Yachts, BSH Home Appliances Corporation, Moen Incorporated and Maola Milk and Ice Cream.