Sell Your Starbucks Property
Thinking about selling your Starbucks property? NNN Realty specializes in net lease investment sales nationwide. This page explains how buyers evaluate Starbucks leases, what drives value after the company’s recent store closures, and what the selling process looks like.
The Starbucks Market at a Glance
Short Answer
A Starbucks property’s value depends mostly on the rent, the years left, and the landlord’s duties, since many Starbucks leases are NN and leave the roof and structure with the owner. Initial terms are often around 10 years, so each year that passes shows up in the price, and buyers check closely for early termination rights. Drive-thru performance and traffic also matter as Starbucks continues to close underperforming stores.
- Typical cap rate
- 5% to 6.25%
- Typical sale price
- $2M to $3M
- Typical term left at sale
- 5 to 10 years
- Typical lease type
- NN
Approximate ranges from NNN Realty’s tracking of Starbucks listings and reported sales, with data as of October 5, 2026. They are a starting point, not an appraisal or a quote of current pricing: your property’s value depends on its lease, location and condition.
How to Sell Your Starbucks Property
Selling a Starbucks property requires a clear read of the lease, including termination rights and landlord duties, and an understanding of how buyers view the brand right now. We manage pricing, marketing, negotiation and closing for owners.
Property Review & Valuation
We review the lease type (NN or NNN), the exact landlord duties for the roof, structure and parking lot, the remaining term, rent increases, renewal options and any early termination or kick-out clause. We also look at the drive-thru layout, traffic counts, access, and the building’s age and condition, then compare the property with recent Starbucks sales to recommend a price.
Market Positioning & Buyer Targeting
Starbucks properties attract 1031 exchange buyers, private investors and institutions that want investment grade restaurant credit. Our offering memorandum presents the lease abstract, landlord obligations and site strengths with professional and drone photography, and we market to buyers whose criteria fit the term remaining and price.
Offers, Buyer Qualification & Negotiations
We review each buyer’s financing or proof of funds, closing history, exchange timing and requested contingencies alongside price. Buyers of NN leases often want roof and structure inspections, so we plan for those requests. We negotiate a non-binding Letter of Intent (LOI) and then a Purchase and Sale Agreement (PSA).
Due Diligence & Closing
After the PSA is signed, the buyer’s due diligence period usually runs about 30–45 days and often includes a property condition report on the roof, structure and parking lot. During this period the buyer can generally cancel and recover its earnest money.
We coordinate documents, inspections and communication with attorneys, the title company and lenders, and we request a tenant estoppel from Starbucks confirming the lease terms. Depending on the PSA, the deposit may become nonrefundable once due diligence ends, subject to contract exceptions, and closing typically follows within 15–30 days. Timelines vary.
What Is My Starbucks Property Worth?
A Starbucks property is valued on its net operating income (NOI) and the capitalization rate (cap rate) buyers will accept. Not every Starbucks trades at the same cap rate. Term remaining, landlord duties under an NN lease, early termination rights and drive-thru strength can move pricing significantly.
How Cap Rates Affect Your Property’s Value
A cap rate represents the relationship between a property’s annual net operating income and its purchase price. Generally, a lower cap rate results in a higher property value, while a higher cap rate results in a lower value.
Example: $140,000 annual NOI at 5.75% cap rate = approximately $2,434,783 estimated property value.
Property Value = Annual NOI ÷ Cap Rate
Cap rate calculator
Estimated property value
Illustrative calculation only. Actual sale prices depend on property characteristics and market conditions.
Factors That Influence Starbucks Property Values
Remaining Lease Term
Because Starbucks leases often start at about 10 years, the years remaining make up a large share of a property’s value. Buyers become noticeably more cautious once less than half of the initial term is left.
Early Termination Rights
Some leases let Starbucks end the lease early, usually after a set date and with notice. A lease without a kick-out clause is generally worth more, so we confirm this before pricing.
NN or NNN Responsibilities
Many Starbucks leases are NN, leaving the roof, structure and sometimes the parking lot with the landlord. Buyers estimate those costs and adjust their offers, while an NNN lease usually prices better.
Drive-Thru & Traffic
Drive-thru stores on busy roads with good access are the format buyers prefer. Strong traffic counts and stacking room help support value while the company reviews its store base.
Tenant Credit & Store Closures
Starbucks Corporation carries an investment grade rating and typically signs the lease itself, which supports buyer demand. After recent closure rounds, buyers also ask whether rent continues if a store closes, which depends on the lease wording.
Starbucks as a Tenant
Starbucks is a publicly traded coffee company whose U.S. freestanding and drive-thru stores are generally company-operated rather than licensed. Leases for those stores are typically signed by Starbucks Corporation, with no franchisee involved. The tenant entity and any guarantee should still be confirmed from your lease.
As of June 28, 2026, Starbucks had 41,304 stores worldwide, including 18,371 in North America and 16,933 in the U.S. After a $1 billion restructuring announced in September 2025 that included closing underperforming coffeehouses, the company said in September 2026 that it would close about 250 more North American stores and lowered its fiscal 2026 net new store forecast to about 440. As a result, lease wording, including any termination rights, and store performance are central to how buyers price a Starbucks property.
- Parent company
- Starbucks Corporation (Nasdaq: SBUX)
- Stores
- 41,304 worldwide, including 16,933 in the U.S., as of June 28, 2026
- Credit rating
- BBB+ from S&P Global Ratings (negative outlook as of May 2025)
- Common lease terms
- Often about 10 years with five-year renewal options and 10% increases every five years; many are NN, with the roof and structure on the landlord. Confirm landlord duties and any termination right in your lease.
- Typical building
- About 2,000 to 2,500 square feet with a drive-thru on 0.5 to 1 acre
Company facts checked October 20, 2026. Sources:
- Starbucks third quarter fiscal 2026 results (Form 8-K, July 29, 2026)
- Starbucks Form 8-K on North America coffeehouse closures and revised store guidance (September 24, 2026)
- ABC News via ABC7: Starbucks to lay off 900 workers, close stores in $1 billion restructuring (September 25, 2025)
- S&P Global Ratings: Starbucks Corp.’s proposed senior unsecured notes rated BBB+ (May 6, 2025)
What Is Your Starbucks Property Worth?
Considering selling your Starbucks property? NNN Realty can estimate its market value by reviewing the lease, landlord responsibilities and any termination rights, recent comparable sales, and current buyer demand.
Whether you want to sell soon or are deciding when to sell, we can provide a clear, informed assessment of your property.
NNN Realty is not affiliated with Starbucks Corporation. Market ranges are approximate, based on listings and sales tracked through October 5, 2026, and the calculator is illustrative. Nothing here is tax, legal or investment advice.