210 Hamilton StSyracuse, NY 13204

For Sale
$2,400,000

Syracuse Starbucks: 10-Year Lease

Overview

Added:
Dec 11, 2024
Days on market:
97
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,625 square-foot Starbucks located at 210 Hamilton St, Syracuse, NY 13204. Built in 2024, this drive-thru and pickup-only store represents the latest in QSR coffee retail design. The property boasts a strong 10-year net lease with a credit-rated, corporate-guaranteed tenant (Starbucks, rated BBB+ by S&P), commencing June 1, 2024, and expiring June 30, 2034. The lease includes four 5-year renewal options, with a 10% rent increase every five years. The property generates a Net Operating Income (NOI) of $120,000, resulting in a 5.00% cap rate. Situated on Route 5 (45,579 vehicles per day) with convenient access to I-81 (94,887 vehicles per day), this location benefits from high visibility and significant traffic volume. The property also features 22 parking spaces and is only 2.5 miles from the Syracuse University campus. This is a rare chance to acquire a well-located, high-performing asset with a secure, long-term lease from a globally recognized brand. Asking price is $2,400,000. 100% occupancy.

Highlights

  • 2024-built Starbucks with a 10-year net lease, located 2.5 miles from Syracuse University.
  • Drive-thru and pickup only store, a new prototype design.
  • Investment-grade tenant, Starbucks, with a S&P rating of BBB+.
  • High-traffic location on Route 5 (45,579 VPD), with convenient access to I-81 (94,887 VPD).
  • 10% rent increases every 5 years throughout the lease term.

Property Details for 210 Hamilton St

Property type
Other retail properties, Restaurants
Year Built
2024

Location Insight

City
Syracuse
County
Onondaga
State
New York
Latitude
43.0516528
Longitude
-76.1842175
210 Hamilton St, Syracuse, New York

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210 Hamilton St
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