2023-Built Starbucks Drive-thru Only Store with 8.5 Years Remaining in Dover, OH
Strong Sales of $2M+ Reported Verbally (Contact Broker); Outstanding Sales Volume for Drive-thru Only Store Type
Subject Property Sees Higher Sales Volume than the Majority of Starbucks Typical Larger Format Stores, Many of which have Higher Occupancy Costs
Top-Tier Performance Rankings – Ranked in the Top 14% of all Starbucks Nationally and Top 18% in Ohio with 410K Annual Customer Visits
One of Only Two Starbucks in a Market with a Population of 93,000
Constructed by Same Developer of 1st Starbucks In-Market which is an Inline Strip Center Endcap w/ Drive-thru in New Philadelphia, OH that Opened in 2017
Other Starbucks in Market is the #1 Ranked Starbucks in Ohio and the #30 Ranked Starbucks in the Entire U.S. with 675K Annual Customer Visits; Located 4.5 Miles South of Subject
Subject Store Purposefully Located to Take Advantage of Large Gap in Market
Subject Property Captured Very Rare 100% Net New Sales for Starbucks in Market – Zero Cannibalization of Sales at Other SBUX in Market
No Inner-Chain Competition – Subject Property Effectively Does Not Compete at All with Other Starbucks in Market
Highly Successful Tertiary Market for Starbucks – Just 2 Stores Combined Produce Nearly 1 Million Annual Customer Visits and
Estimated Sales of $5-6 Million in Market on a Total Base Rent Factor of Only $193K Annually
Very Low Competition Market for Starbucks – Only Other National Coffee Chain in 93,000-Person Market is a Biggby Coffee (Opened
2021 and located within Walking Distance of New Philadelphia SBUX)
No Other National Coffee Chains within a 4-Mile Radius of Subject Property
Highway-Exit Location: Just 0.25-Mile from I-77 Exit Ramps (39,266 VPD)
“Starbucks Corporation” Lessee Entity – Publicly-Traded (NYSE: SBUX) #1 Global Coffee Chain with $111 Billion Market Cap & Investment-Grade S&P “BBB+” Credit
10% Rent Increase in 2028 and in Each Option
Outparcel to Buehler’s Grocery Store (Regional, 14 Locations) and Amongst Pocket of Significant Recent Development Incl. Cleveland Clinic, First Federal Community Bank, Novogradac, and Upscale Housing
High-Quality Construction: Masonry & Composite Exterior, 100% Concrete Parking Lot & Drives, and Long Drive-thru Queue
Strong Incomes & Population Density: $93,500/1-Mile AHHI and 33,400/5-Mi Population
Dover-New Philadelphia MSA was Ranked #16 out of the Top 100 Micropolitan Markets in U.S. in 2023 by Site Selection Magazine based on Overall Business-Friendly Climate, Diversified Economy & Growth Trajectory
Dover is Just 20 Minutes South of Canton, OH and Part of the Larger Cleveland-Akron-Canton CSA with a Population of 3.5 Million