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Starbucks

356 North Stapley Drive, Mesa, AZ 85203

$2,485,436

Cap Rate 5.15%

Views: 69 DOM: 103 Updated: 08.30.24 Posted: 05.28.24 Status: Active

Summary

Price $2,485,436
Built/Renov 2022
Tenant Starbucks
Cap Rate 5.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 940
Lease Start 11-23-2022
#Units 38,038
Price/SF $2,644.08
Expiration 11-22-2032
Tenant Type Fast Food/QSR
NOI $128,000
R. Term 8.2
Ownership Fee Simple
Rent/SF $136.17
Increases 10.0%/3/yrs
Pop 5Mi 334,180
Lot/AC 0.55
Options 4/5yrs/10%
AHHI 5Mi $91,054

Chris Hollenbeck
Cushman & Wakefield
Contact

Shane Carter
Cushman & Wakefield
Contact

Lease Highlights

  • New 2022 construction
  • Starbucks has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of North Stapley Drive and University Drive, with access to a combined daily traffic count of 47,506 vehicles. Within a 3-mile radius, the area is surrounded by community educational institutions such as Mountain View High School, Mesa High School, and Sun Valley High School, totaling 6,990 students. Adjacent to the...

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Key Features

  • New construction

  • Signalized intersection

  • Dense retail corridor

  • Near major nationals

  • Strong tenant synergy

  • Top 100 MSA

  • Strong demographics

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Starbucks Wikipedia Starbucks Wikipedia Mesa, Arizona Zip Code 85203 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: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 : 21,478 166,837 332,896
2023 Total Population : 21,854 167,592 334,180
2023 Employed Civilian Pop : 9,915 79,498 168,523
2023 Total Businesses : 541 4,477 10,727
2023 Average Household Income : $ 81,463 $ 83,510 $ 91,054
2023 Total Consumer Spending : $ 525 M $ 4459 M $ 10187 M
2023 Median Age : 30 33 34
2023 Total Households : 7,307 60,832 127,920
2023 Pop Age 25+: Bachelor's Degree : 1,847 16,879 43,629
2023 Average Home Value : $ 394,365 $ 352,748 $ 386,132
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
University Dr N Miller St 2007 28,000 0.18 mi
North Stapley Drive E 2nd Pl 2018 23,310 0.20 mi
N Stapley Dr E 1st St 2014 22,410 0.31 mi
N Miller St E 2nd Pl 2013 203 0.32 mi
N Fraser Dr E 5th St 2013 582 0.37 mi
North Fraser Drive 3rd Pl 2018 617 0.37 mi
North Parsell E Main St 2018 399 0.38 mi
N Parsell E Main St 2013 372 0.38 mi
N Matlock St E 2nd St 2013 323 0.38 mi
North Matlock Street E 2nd St 2018 374 0.38 mi

Listing Broker

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