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Views: 171 DOM: 178 Updated: 11.05.24 Posted: 06.26.24 Status: Active

Summary

Price $2,900,000
Built/Renov 2018
Tenant Starbucks
Cap Rate 4.71%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,700
Lease Start 05-11-2018
#Units 38,038
Price/SF $1,705.88
Expiration 05-31-2028
Tenant Type Fast Food/QSR
NOI $136,631
R. Term 3.5
Ownership Fee Simple
Rent/SF $80.37
Increases 12.0%/4/yrs
Pop 5Mi 346,607
Lot/AC 0.39
Options 4/5yrs/12%
AHHI 5Mi $99,397

Lease Highlights

  • Starbucks has 3+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 12% rental increases at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Main Street, with access to 31,000 vehicles passing by daily. The property is placed in the 95th percentile of all Starbucks locations nationwide, according to Placer.ai, placing it among the top 5% performance. Adjacent to the site is a high-performing 7-Eleven, ranking in the 85th percentile within the California chain, according to Placer.ai....

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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 : 21,759 197,946 370,266
2024 Total Population : 21,905 196,165 366,550
2024 Employed Civilian Pop : 10,059 88,860 169,044
2024 Total Businesses : 587 4,916 10,710
2024 Average Household Income : $ 109,759 $ 109,920 $ 117,353
2024 Total Consumer Spending : $ 579 M $ 5473 M $ 11438 M
2024 Median Age : 37 37 37
2024 Total Households : 6,102 57,244 112,346
2024 Pop Age 25+: Bachelor's Degree : 2,426 22,766 47,989
2024 Average Home Value : $ 662,918 $ 686,621 $ 730,520
*ESRI data is presented for informational purposes only

Listing Broker

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