The Cooper Commercial Investment Group closed the sale of a single-tenant NNN Starbucks in Piqua, Ohio, a suburb of Dayton.
This tenant is on a new 10-year lese with 10% rental increases every five years. The location was built to the latest Starbucks prototype with drive-thru lane, patio and highly visible signage.
The “main and main” location is shadow-anchored by Home Depot, Miami Valley Crossing Shopping Center and Walmart Supercenter.
Dan Cooper of the Cooper Commercial Investment Group represented the seller, a private developer out of the Midwest. The buyer, from Missouri, was found on the first day of listing the property. The seller purchased the property at the full asking price of $2.84 million, a 4.7% CAP rate.