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1421 College RdWilmington, NC 28403
Scooter's Coffee | Wilmington, NC | 6.00% Cap
Asset ClassRetail
Cap Rate6%
Next Door to UNC Wilmington (18K Students)
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Scooters | Wilmington, NC. The Premises is ground-leased to Scooters for a 15 year initial term. The Asset is well positioned on a major retail and commuter corridor in Wilmington, NC and is located on the morning side ofCollege Rd right next to UNC Wilmington (18,000 Students)

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Investment Highlights

Well Known, Brand Name Tenant Driving Sales

  • Scooter’s Coffee has over 600 stores, with plans to open 1,000 stores by the end of 2024
  • Located in over 20 states

Attractive Lease Fundamentals

  • 15 year ground lease provides next owner with zero landlord responsibilities
  • 10% rental increases in primary term and in option periods

Strong Surrounding Demos in High-Growth MSA

  • More than 73K people live in a 3-mile radius
  • AHHI is approximately $70k in a 3-mile radius
  • Wilmington MSA has grown 8.32% from 2020 to 2023

Located on Wilmington’s Main Retail Corridor

  • Over 1.6MSF of retail space is located in a 1-mile radius, boasting a 0.85 vacancy rate
  • Nearby national retailers include: Publix, Aldi, Chick-Fil-A, Chipotle, Dunkin’, and Burger King

Well Positioned on High Trafficked Road

  • Subject site is positioned on the morning side of S. College Rd (48K VPD) to University of North Carolina Wilmington (18K enrollment)

Close Proximity to UNC Wilmington

  • Subject site is less than 2 Miles to UNCW
  • Total enrollment of 18k
  • UNCW generated more than 9,200 jobs in the region and more than $335 million in labor income
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1421 College RdWilmington, NC 28403
University of North Carolina - Wilmington

Sales Team

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Listing provided by Revere CRE