1011 Piney Forest RdDanville, VA 24540

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2022) Starbucks located at 1011 Piney Forest Rd, Danville, VA 24540. The 2,517 square foot building sits on a 1.28-acre lot and boasts a double drive-thru, strategically positioned on a road averaging 31,000 vehicles per day. The property benefits from a strong 13.3-year remaining lease term (expiring 02/28/2038) with a credit-rated, corporate-guaranteed tenant (Starbucks). The lease includes six 5-year renewal options and features a 10% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $129,729, resulting in a 6.21% cap rate and a price per square foot of $830.35. The property's high-quality construction and prime location, supported by a robust trade area with over 49,000 residents and 27,000 employees within a 5-mile radius and an average household income of $60,725 within 1 mile, contribute to its exceptional investment potential. The tenant pays taxes and insurance, minimizing landlord responsibilities to roof and structure maintenance, making this an ideal low-management investment. Starbucks' strong financial performance, with Q4 2023 net revenues up 11% to a record $9.4B and comparable store sales up 8% globally, further underscores the stability and growth potential of this asset. The lease commenced on December 2, 2022.