Starbucks

2334 South Val Vista Drive, Gilbert, AZ 85295

$2,640,000

Cap Rate 5.00%

Views: 16 DOM: 23 Updated: 05.07.24 Posted: 04.25.24 Status: Contract 05.07.24

Summary

Price $2,640,000	Built/Renov 2017	Tenant Starbucks
Cap Rate 5.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,497	Lease Start 09-29-2017	#Units 38,038
Price/SF $1,057.27	Expiration 02-28-2033	Tenant Type Fast Food/QSR
NOI $132,000	R. Term 8.9	Ownership Fee Simple
Rent/SF $52.86	Increases 10.0%/4/yrs	Pop 5Mi 311,769
Lot/AC 0.88	Options 3/5yrs/10%	AHHI 5Mi $125,337

Lease Highlights

Starbucks has 8+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of South Val Vista Drive and East Williams Field Road, with access to a combined daily traffic count of 64,255 vehicles. The property is surrounded by well-known national tenants such as Top Golf, Main Event, At Home, Walmart, Costco, CVS Pharmacy, and more. Furthermore, it is within 2 miles of Dignity Health Mercy...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Recently extended lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Gilbert, Arizona Zip Code 85296 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:38,038
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	18,734	122,691	327,174
2023 Total Population :	17,674	117,857	320,628
2023 Employed Civilian Pop :	9,868	61,912	166,324
2023 Total Businesses :	752	2,852	7,127
2023 Average Household Income :	$ 133,264	$ 145,865	$ 142,021
2023 Total Consumer Spending :	$ 792 M	$ 4950 M	$ 13111 M
2023 Median Age :	33	34	34
2023 Total Households :	6,890	39,797	107,937
2023 Pop Age 25+: Bachelor's Degree :	3,747	23,828	62,498
2023 Average Home Value :	$ 462,744	$ 483,826	$ 484,470

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Val Vista Dr	E Williams Field Rd	2010	25,755	0.05 mi
E Williams Field Rd	S Val Vista Dr	2010	18,905	0.08 mi
E Toledo St	Redrock St	2004	1,124	0.10 mi
E Toledo St	S Val Vista Dr	2004	1,800	0.13 mi
E Williams Field Rd	S Rome St	2015	23,409	0.19 mi
S Val Vista Dr	Eastern	2015	31,667	0.28 mi
East Williams Field Road	S Peppertree Dr	2018	25,782	0.32 mi
S Val Vista Dr	E Los Alamos St	2018	27,378	0.40 mi
E Williams Field Rd	S 148th St	2015	23,129	0.42 mi
East Williams Field Road	Eastern Csr	2018	23,342	0.46 mi

Listing Broker

Mark Ruble

Marcus & Millichap: NLAG

Contact

164 Listings
6680 Views
75 Sold

Chris Lind

Marcus & Millichap: NLAG

Contact

163 Listings
6612 Views
74 Sold

Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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