Starbucks

SWC Highway 111 & Date Palm Drive, Cathedral City, CA 92234

$4,115,000

Cap Rate 4.50%

Views: 132 DOM: 93 Updated: 10.30.24 Posted: 09.19.24 Status: Active

Summary

Price $4,115,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 4.50%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,900	Lease Start 12-01-2024	#Units 38,038
Price/SF $2,165.79	Expiration 02-28-2035	Tenant Type Fast Food/QSR
NOI $185,000	R. Term 10.2	Ownership Fee Simple
Rent/SF $97.37	Increases 10.0%/5/yrs	Pop 5Mi 98,724
Lot/AC 0.79	Options 4/5yrs/10%	AHHI 5Mi $104,191

Lease Highlights

Brand new 2024 construction
New 10-year lease with 4 (5-year) options to extend
The lease features 10% rental increases 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 Palm Canyon Drive and Date Palm Drive, a major north/south thoroughfare, with access to a robust daily traffic of 55,000 vehicles. The property is directly across from the new Agua Caliente Casino Cathedral City, which is ranked among the top 2% of casinos nationwide according to Placer.ai. Situated in the city's...

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Key Features

New construction
Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Top 100 MSA
New development zone
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Cathedral City, California Zip Code 92234 Broker Site Page

Maps

Local Information

1 Mile
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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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Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
17844 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
17407 Views
65 Sold

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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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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