10 Canal StBourne, MA 02532

Property Details for 10 Canal St

Year built

2023

Lot size

1.10 AC

Property size (Sq ft)

2,250 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple, 2,250 square foot Starbucks located at 10 Canal St, Bourne, MA 02532. Built in 2023, this single-story, 100% occupied property boasts a 9.3-year lease with a corporate guarantee from Starbucks (BBB+ credit rating). The lease commenced February 28, 2024, and expires February 28, 2034, with three 5-year renewal options. Rent increases of 5% are built in for 2029, and further increases are included at the start of each renewal option. The property sits on a 1.1-acre lot, enjoys high visibility from US Route 6 and the Sagamore Bridge, and benefits from strong demographics and high traffic counts exceeding 63,100 vehicles daily. The property's Net Operating Income (NOI) is $128,000, resulting in a 5.50% cap rate. The asking price is $2,327,272. This prime location at the "Gateway to Cape Cod" offers significant upside potential due to its strategic placement near the Sagamore and Bourne Bridges, and proximity to major roadways and popular recreational areas. The building includes a transferable 30-year roof warranty. This is a rare opportunity to acquire a high-performing, credit-rated, net-leased Starbucks investment property with substantial long-term growth potential.

Location Insight

City

Bourne

County

Barnstable

State

Massachusetts

Latitude

41.7798

Longitude

-70.5428

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