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Views: 125 DOM: 335 Updated: 06.20.24 Posted: 12.22.23 Status: Active

Summary

Price $3,750,000
Built/Renov 2024
Tenant Starbucks (GL)
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,365
Lease Start 03-01-2024
#Units 36,000
Price/SF $1,585.62
Expiration 02-29-2044
Tenant Type Fast Food/QSR
NOI $150,000
R. Term 19.3
Ownership Ground Lease
Rent/SF $63.42
Increases 10.0%/5/yrs
Pop 5Mi 68,982
Lot/AC 0.75
Options 3/5yrs/10%
AHHI 5Mi $159,532

Lease Highlights

  • Brand-new 2024 construction
  • Starbucks recently signed a brand-new 20-year ground lease with 2 (5-year) and 1 (4 year, 11 month) options to extend
  • Lease features 10% rental increase throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Starbucks is strategically located at the off/on ramp from Highway 101, providing access to 104,200 vehicles passing by daily. The property boasts excellent visibility to traffic with an 80-foot-high pylon sign. Moreover, the site is part of a newly constructed plaza known as Allium Retail and Hospitality Center. This plaza hosts national tenants such as Chick-fil-A, Circle K, Blue Wave Car...

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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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Listing Broker

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