Starbucks
ClosedGA 17 & I-85, Lavonia, GA 30553
Property type
Retail
Price
$2,710,000
Building size
2,500 sf
Rentable area
2,500 SF
Year built
2024
Year renovated
Occupancy
Zoning code
Lot size
1.97 Acres
Sold/status
Sold · Date unknown
Sale price
$2710000
CAP
6.27%
Net Operating Income
$170,000
Property description
Franklin Street is pleased to offer this new construction Starbucks location in Lavonia, Georgia. Lavonia is located 85 miles northeast of Atlanta along Interstate 85, which leads to Greenville and Charlotte. The property is located directly off the interstate and will service a major gap in stores for Starbucks, as there is not another interstate location for 25+ miles in either direction. The traffic on this section of I-85 has continued to see significant increases, as the current ADT sits at 47,000 today, in comparison to 40,600 in 2020. Northeast Georgia has seen significant economic development in recent years and many large scale industrial developments due to its strong accessibility to major markets along I-85--the largest being the nearby SK Battery Plant, a $2B development that employs 3,000 that provides high-energy density battery cells to top automotive brands. Located at the exit is St. Mary's Sacred Heart Hospital, which services North Georgia at its 56 bed facility. Starbucks offers an investment grade (BBB+ by S&P) corporate guarantee on the lease, and has scheduled ten percent increases every 5 years throughout the lease and option periods. Starbucks is responsible for fully reimbursing their common area maintenance, insurance, and tax costs to the landlord.
Property highlights
- New Construction Starbucks Location with New 10-Year Lease
- I-85 Exit Location Surrounded By National Restaurants: Chick-fil-A, Whataburger, McDonald's, Waffle House, Bojangles, Zaxby's, Cracker Barrel, Dairy Queen, and LongHorn Steakhouse
- Oversized Lot: 1.97 Acres that could Provide Future Developable Upside
- Limited Competition: Next Closest Interstate Exit Starbucks is 25+ Miles Away
- 47,000 VPD Passing By I-85 Exit
- Investment Grade Credit: BBB+ by S&P and Baa1 by Moody's
- Growing Concept: Starbucks Announced Plans to Expand its Global Footprint with 17,000 New Locations by 2030