Starbucks

22350 Cactus Avenue, Moreno Valley, CA 92553

$2,900,000

Cap Rate 5.00%

Views: 122 DOM: 267 Updated: 11.12.24 Posted: 02.28.24 Status: Active

Summary

Price $2,900,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,500	Lease Start 03-24-2023	#Units 38,038
Price/SF $1,933.33	Expiration 03-31-2033	Tenant Type Fast Food/QSR
NOI $145,000	R. Term 8.4	Ownership Fee Simple
Rent/SF $96.67	Increases 10.0%/4/yrs	Pop 5Mi 259,487
Lot/AC 0.69	Options 4/5yrs/10%	AHHI 5Mi $98,128

Lease Highlights

Brand new 2023 construction
Starbucks has 8+ 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 primary 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 Cactus Avenue and Commerce Dr., with access to 38,200 vehicles passing by daily. Conveniently situated at the on-ramp to the 215 (Escondido) Freeway, the property enjoys high visibility and accessibility. Additionally, it is surrounded by well-known national tenants including Carl’s Jr., Jack in the Box, Harbor...

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Key Features

New construction
Signalized intersection
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Moreno Valley, California Zip Code 92553 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 :	5,239	104,145	267,804
2023 Total Population :	5,140	101,877	261,360
2023 Employed Civilian Pop :	2,271	45,809	122,967
2023 Total Businesses :	409	2,902	5,593
2023 Average Household Income :	$ 65,517	$ 93,537	$ 108,687
2023 Total Consumer Spending :	$ 77 M	$ 2317 M	$ 6830 M
2023 Median Age :	26	31	32
2023 Total Households :	1,342	28,604	72,997
2023 Pop Age 25+: Bachelor's Degree :	85	7,519	23,715
2023 Average Home Value :	$ 499,486	$ 491,445	$ 519,450

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Cactus Ave	Commerce Center Dr	2006	43,300	0.02 mi
Cactus Avenue	Graeber St	2017	40,600	0.12 mi
Elsworth St	Goldencrest Dr	2006	7,700	0.24 mi
Cactus Ave	Newhope St	2006	43,700	0.34 mi
215		2018	154,000	0.39 mi
215		2018	150,000	0.41 mi
		2022	139,500	0.44 mi
Alessandro Blvd	Pepper St	2006	35,800	0.49 mi
Alessandro Blvd	Elsworth St	2006	31,300	0.54 mi
Alessandro Blvd	Elsworth St	2000	19,000	0.55 mi

Listing Broker

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
15686 Views
65 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
16095 Views
63 Sold

Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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