For Sale
$2,995,000

12349 Pellicano DrEl Paso, TX 79928

High-return Starbucks NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,020-square-foot Starbucks located in El Paso, Texas. The property boasts a 10-year NNN lease with a credit-rated corporate guarantor, ensuring consistent cash flow. The lease includes 10% rent bumps every five years, providing a built-in hedge against inflation. Situated on a 1.03-acre lot at the signalized intersection of Joe Battle Blvd and Pellicano Dr, this location benefits from exceptional visibility and high traffic counts exceeding 46,000 vehicles per day. The property is part of the new Monteverde mixed-use development, anchored by an Alamo Drafthouse Cinema, further enhancing its appeal and foot traffic. The surrounding area is densely populated and affluent, with over 13,050 residents within a one-mile radius and an average household income exceeding $112,800. The property's proximity to Americas High School, University Medical Center of El Paso, and a large Amazon Fulfillment Center adds to its strategic location. The asking price is $2,995,000, representing a 5.00% cap rate and a net operating income (NOI) of $150,000. The lease term is 10 years with four 5-year renewal options. This is a rare opportunity to acquire a high-performing, investment-grade asset in a rapidly growing market within a tax-free state. The property was built in 2024 and is part of a larger, thriving mixed-use development. The location benefits from its proximity to major transportation arteries and a significant concentration of residents and employees.

Highlights

  • New construction with a 10-year, net-lease to Starbucks.
  • Rent increases 10% every 5 years.
  • Investment-grade tenant: Starbucks Corporation (BBB+/Baa1 rated).
  • High visibility at a signalized intersection (Joe Battle Blvd & Pellicano Dr) with over 46,000 VPD; frontage road access to TX Loop 375 (104,000+ VPD).
  • Strong demographics: 13,050+ residents within 1 mile, $112,800+ average household income.
  • Located in the Monteverde mixed-use development, anchored by a high-traffic Alamo Drafthouse Cinema.

Property Details for 12349 Pellicano Dr

Property type
Retail properties, Restaurants
Square Feet
2,020 SF
Year Built
2024
Lot Size (sq. ft)
44,867 SF

Location Insight

City
El Paso
County
El Paso
State
Texas
Latitude
31.72624611
Longitude
-106.26501771
12349 Pellicano Dr, El Paso, Texas

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12349 Pellicano Dr
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