Sign in Subscribe
Financial services

RealSource Group Facilitates $3 Million Sale of New Construction Starbucks Drive-Thru in Gadsden, Alabama

Strategic Insights

— 1 min read

RealSource Group, a national commercial real estate brokerage company, has facilitated the sale of a newly built, single-tenant Starbucks drive-thru in Gadsden, Alabama, for $3 million. The 2,500-square-foot building features a patio and was constructed in 2024 on a 1.17-acre site at 720 Gilbert Ferry Road SE. The property benefits from its location in a high-traffic commercial corridor near major retailers and offers convenient access to Interstates 59 and 759.

Key Takeaways:

  • The $3 million sale of the Starbucks drive-thru represents the first single-tenant Starbucks property sold in Alabama in 2025, with a cap rate of 6.29%.
  • The property features a corporate-backed NN+ lease with six five-year renewal options following the initial 10-year term and benefits from Starbucks' investment-grade credit.
  • RealSource Group, in association with ParaSell, Inc., represented both the Ohio-based private investor and the Tampa, Florida-based private developer in the transaction.
  • The deal was facilitated through direct outreach to commercial property owners and investors, with the buyer being an Ohio-based private investor actively seeking a net-leased investment in Alabama for tax planning purposes.
  • The property's strategic positioning, with over 21,000 vehicles passing daily and as the only standalone Starbucks within a three-mile radius, offers strong visibility and minimal immediate competition.
  • RealSource Group's targeted approach, contacting commercial property owners throughout the market, led to securing a non-exchange buyer familiar with the trade area and actively seeking a net-leased property in Alabama.
  • According to CoStar, there were 68 newly built single-tenant Starbucks properties on the market, with an average cap rate of 5.75% and a sale price exceeding $3.1 million.

Statistics:

  • The sale of the Starbucks drive-thru in Gadsden, Alabama, was facilitated by RealSource Group, with a sale price of $3 million and a cap rate of 6.29%.
  • The property benefits from a corporate-backed NN+ lease with six five-year renewal options following the initial 10-year term.
  • The average cap rate for newly built single-tenant Starbucks properties on the market is 5.75%, with a sale price exceeding $3.1 million.
  • There were 68 newly built single-tenant Starbucks properties on the market as of the sale of the Gadsden location.
  • Starbucks Corp. (NASDAQ: SBUX) operates more than 40,000 stores globally and employs approximately 380,000 people.

Sources:

  • M2 PressWIRE
  • CoStar
  • RealSource Group

Read more