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Views: 75 DOM: 74 Updated: 10.22.24 Posted: 10.08.24 Status: Active

Summary

Price $3,732,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,020
Lease Start 04-25-2024
#Units 38,038
Price/SF $3,658.82
Expiration 04-30-2034
Tenant Type Fast Food/QSR
NOI $186,619
R. Term 9.4
Ownership Fee Simple
Rent/SF $182.96
Increases 10.0%/5/yrs
Pop 5Mi 217,795
Lot/AC 0.51
Options 4/5yrs/10%
AHHI 5Mi $76,396

Lease Highlights

  • Brand new 2024 construction
  • Starbucks has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years 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 hard corner intersection of Highland Avenue and Eucalyptus Drive, the areas primary thoroughfare, with access to a combined daily traffic count of 26,000 vehicles. The property is adjacent to the exit of the 210 Freeway, which sees 115,000 VPD. It is situated near top regional employers and key traffic generators, notably the Yaamava’ Resort & Casino,...

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Maps

  • 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
2029 Total Population : 21,577 114,214 226,608
2024 Total Population : 21,585 114,407 225,479
2024 Employed Civilian Pop : 8,969 49,179 95,505
2024 Total Businesses : 229 1,998 6,027
2024 Average Household Income : $ 82,786 $ 83,914 $ 88,796
2024 Total Consumer Spending : $ 450 M $ 2458 M $ 5196 M
2024 Median Age : 34 34 34
2024 Total Households : 6,160 33,231 66,535
2024 Pop Age 25+: Bachelor's Degree : 1,528 6,258 14,427
2024 Average Home Value : $ 498,220 $ 458,417 $ 488,390
*ESRI data is presented for informational purposes only

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