By LYNETTE HAALAND
Four Points News
Founded in 1971, Starbucks is a premier roaster and retailer of specialty coffee with over 33,000 locations worldwide. Soon a new standalone coffee shop will open at 5700 Steiner Ranch Blvd.
The one-story retail 2,365-square-foot building sits on 3.41 acres and the site has nearly 14 parking spaces.
Starbucks Corp. signed a 15-year lease with four, 5-year options to extend, demonstrating their long-term commitment to the site, according to the SRS National Net Lease Group website.
The group is offering the opportunity to acquire the land and building in a net-net leased, investment grade, drive-thru equipped Starbucks investment property.
According to the investment property listing at LoopNet, the sale price is $3.8 million and is $1,607 per square foot.
Investment highlights include a strong demographics in a 5-mile trade area with six-figure incomes. The area is described as a heavily traveled, dense retail corridor with a signalized, hard corner intersection of RM 620 and Steiner Ranch Boulevard.
The vehicles per day traffic count on RM 620 near the Steiner Ranch Boulevard intersection was 40,551 in 2022 – an increase from 35,000 in 2020, according to LoopNet. Traffic count on Steiner Boulevard at that intersection is 5,635 VPD.
There are more than 10,000 households nearby the intersection including apartments.
Concordia University Texas, which is three miles away on RM 620 North, has more than 2,600 students in the area.
The site sits on commercial site MU 15 West Tract and is within the full purpose jurisdiction of the city of Austin, within Travis County. The application for the site plan with the city of Austin was filed just over a year ago on August 22, 2022.
“There are two driveways, one on each section of Steiner Ranch Boulevard as it makes the curve,” according to Connor Overby, project manager at Atwell, LLC.