Starbucks | 105 Pine Lake Ave
Starbucks drive-thru in La Porte, Indiana, offered at $1,685,000 at a 6.03% cap ($101,640 NOI). The single-tenant property is backed by Starbucks' investment-grade credit and secured by a long-term lease extended through February 2033, recently renewed by the tenant for an additional five years. The asset provides stable, passive income with fee-simple ownership and 1031-exchange eligibility.
Built in 2017, the 2,100 SF building sits on 0.7 acres with 28 parking spaces at the signalized intersection of Pine Lake Avenue and Newport Boulevard along US Route 35. The location commands exceptional visibility, with more than 31,300 vehicles passing daily. The property anchors the primary entrance to a grocery-anchored shopping center featuring Kroger, Tractor Supply, and Buffalo Wild Wings, and benefits from surrounding new retail development including Smoothie King, Anytime Fitness, Dental Studio, and Aldi. Starbucks recently invested several hundred thousand dollars in site improvements, reflecting the store's strong operating performance and reinforcing the company's commitment to the location.
- Lease extended through February 2033; tenant exercised five-year renewal
- Investment-grade Starbucks tenant with recent substantial capital investment
- 31,300+ vehicles per day; signalized intersection with high visibility
- Grocery-anchored center with Kroger, Tractor Supply, Buffalo Wild Wings
- Fee-simple ownership; 1031-exchange eligible
- Below-replacement rental economics
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Location
This investment opportunity features a high-performing, 2,100-square-foot Starbucks drive-thru property offered at a 6.03% capitalization rate with a long-term lease in place. Starbucks recently exercised an early five-year lease extension, securing its tenancy through February 2033 and demonstrating a strong commitment to the location. The property has also benefited from a substantial recent renovation, with Starbucks investing several hundred thousand dollars in site improvements, reflecting the store’s strong operating performance. Backed by one of the world’s leading coffee brands, Starbucks offers investors the stability of a nationally recognized, investment-grade tenant. Strategically positioned at the signalized intersection of Pine Lake Avenue and Newport Boulevard along US Route 35, the property enjoys outstanding visibility and exposure to more than 31,300 vehicles per day. Located at the primary entrance to a grocery-anchored shopping center featuring Kroger, Tractor Supply, and Buffalo Wild Wings, the site benefits from consistent consumer traffic and is further enhanced by surrounding new developments, including Smoothie King, Anytime Fitness, Dental Studio, and Aldi. Its attractive purchase price, below-replacement rental economics, and prime location within La Porte’s expanding retail corridor provide strong long-term value and downside protection for investors.