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Starbucks

5850 South Eastern Avenue, Los Angeles, CA 90040

$6,210,000

Cap Rate 4.75%

Views: 34 DOM: 96 Updated: 04.25.24 Posted: 02.11.24 Status: Active

Summary

Price $6,210,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,442
Lease Start 02-15-2024
#Units 36,000
Price/SF $2,543.00
Expiration 02-28-2039
Tenant Type Fast Food/QSR
NOI $295,000
R. Term 14.9
Ownership Fee Simple
Rent/SF $120.80
Increases 10.0%/5/yrs
Pop 5Mi 821,168
Lot/AC 0.64
Options 4/5yrs/10%
AHHI 5Mi $75,677

Bill Asher
Hanley Investment Group
Contact

Jeff Lefko
Hanley Investment Group
Contact

Lease Highlights

  • Brand-new 2023 construction
  • Starbucks recently executed a brand-new 15-year lease with 3 (5-year) and 1 (4-year, 11months) options to extend
  • The lease features 10% rental increases throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of S Eastern Ave and Slauson Ave, with access to a combined daily traffic count of 51,000 vehicles. This prime location is further enhanced by the lack of competition in the area, as it stands as the sole Starbucks Drive-Thru within a 1.5-mile radius. Additionally, the property is situated within Commerce Office...

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Key Features

  • New construction

  • Signalized intersection

  • Shopping Ctr out-parcel

  • Freeway close

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 15+ yr lease

  • Traded and rated company

  • Investment grade tenant

    • ...

Links

Starbucks Wikipedia Starbucks Wikipedia Los Angeles, California Zip Code 90040 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:36,000
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,196 258,590 775,733
2023 Total Population : 17,462 260,924 784,418
2023 Employed Civilian Pop : 7,601 112,544 338,418
2023 Total Businesses : 1,027 9,444 26,113
2023 Average Household Income : $ 71,371 $ 78,251 $ 86,224
2023 Total Consumer Spending : $ 281 M $ 4786 M $ 16142 M
2023 Median Age : 29 31 32
2023 Total Households : 4,540 70,650 217,043
2023 Pop Age 25+: Bachelor's Degree : 575 14,485 53,471
2023 Average Home Value : $ 556,841 $ 663,045 $ 699,916
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Eastern Ave E Slauson Ave 2009 21,915 0.13 mi
S Eastern Ave Peachtree St 2009 23,684 0.17 mi
E Slauson Ave Alexander St 2008 24,114 0.19 mi
E Slauson Ave S Eastern Ave 2008 27,622 0.20 mi
Mansfield Way S Eastern Ave 2009 2,899 0.24 mi
Rickenbacker Rd S Eastern Ave 2009 3,813 0.31 mi
Rickenbacker Rd S Eastern Ave 2009 1,007 0.31 mi
I- 710 Gage Ave 2013 187,000 0.44 mi
Watcher St Eastern Ave 2009 3,748 0.44 mi
Watcher St Eastern Ave 2009 2,384 0.45 mi

Listing Broker

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