Starbucks

283 Orange Avenue, Chula Vista, CA 91911

$4,705,000

Cap Rate 4.25%

Views: 57 DOM: 88 Updated: 09.05.24 Posted: 06.20.24 Status: Active 06.20.24

Summary

Price $4,705,000	Built/Renov 2023	Tenant Starbucks
Cap Rate 4.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,129	Lease Start 09-21-2023	#Units 38,038
Price/SF $4,167.40	Expiration 09-20-2033	Tenant Type Fast Food/QSR
NOI $200,000	R. Term 9.0	Ownership Fee Simple
Rent/SF $177.15	Increases 10.0%/5/yrs	Pop 5Mi 378,232
Lot/AC 1.44	Options 4/5yrs/10%	AHHI 5Mi $99,139

Shaun Riley

Faris Lee Investments

Contact

Lease Highlights

Brand-new 2023 construction
Brand-new 10-year lease with 4 (5-year) options to extend
Lease features rental increases of 10% every 5 years throughout the primary term & option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Orange Ave and Third Ave, with a combined traffic count of 39,900 vehicles passing by daily. Orange Avenue is a major east/west thoroughfare within the region intersecting Interstate 5 less than 1-mile from the site. The property is within close proximity to several national/credit tenants including O’Reilly Auto...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Highway location
Strong tenant synergy
Top 100 MSA
Strong demographics
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Chula Vista, California Zip Code 91911 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 :	32,380	210,345	380,496
2023 Total Population :	32,431	211,209	368,932
2023 Employed Civilian Pop :	14,083	93,806	167,531
2023 Total Businesses :	950	5,684	10,407
2023 Average Household Income :	$ 78,368	$ 94,220	$ 104,136
2023 Total Consumer Spending :	$ 698 M	$ 5174 M	$ 10054 M
2023 Median Age :	36	35	35
2023 Total Households :	10,089	63,561	112,284
2023 Pop Age 25+: Bachelor's Degree :	2,050	19,489	41,101
2023 Average Home Value :	$ 476,729	$ 591,951	$ 656,168

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
3rd Avenue	Alley	2022	20,303	0.07 mi
Orange Ave	Banner Ave	2012	16,000	0.11 mi
3rd Avenue	Quintard St	2022	17,580	0.11 mi
Quintard Street	el Lugar St	2022	5,647	0.16 mi
Orange Avenue	Quintard St	2022	16,741	0.17 mi
Quintard St	2nd Ave	2017	5,647	0.19 mi
2nd Avenue	Quintard St	2022	4,790	0.23 mi
3rd Ave	Quintard St	2013	26,200	0.24 mi
Anita St	Fresno Ave	2013	4,000	0.30 mi
4th Avenue	Anita St	2022	11,321	0.31 mi

Listing Broker

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