Starbucks

710 South Azusa Avenue, Azusa, CA 91702

$4,600,000

Cap Rate 4.35%

Views: 126 DOM: 162 Updated: 10.18.24 Posted: 06.24.24 Status: Active

Summary

Price $4,600,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 4.35%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,055	Lease Start 03-01-2023	#Units 38,038
Price/SF $4,360.19	Expiration 03-09-2033	Tenant Type Fast Food/QSR
NOI $200,000	R. Term 8.3	Ownership Fee Simple
Rent/SF $189.57	Increases 10.0%/5/yrs	Pop 5Mi 383,611
Lot/AC 0.35	Options 4/5yrs/10%	AHHI 5Mi $107,388

Shaun Riley

Faris Lee Investments

Contact

Lease Highlights

Brand new 2024 construction
New 10-year lease with 4 (5-year) options to extend
The lease features 10% 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 Azusa Avenue and Newburgh Street, a major north-south street corridor intersecting all three east-west freeways, with access to high daily traffic counts of 48,900 vehicles. Additionally, this site benefits from being the only drive-thru in the immediate area, situated in a central shopping destination surrounded...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Freeway close
Top 100 MSA
Strong demographics
Brand new lease
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Azusa, California Zip Code 91702 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
2029 Total Population :	32,201	177,888	375,651
2024 Total Population :	32,899	181,267	383,932
2024 Employed Civilian Pop :	16,299	89,928	186,519
2024 Total Businesses :	576	7,186	13,177
2024 Average Household Income :	$ 100,534	$ 114,627	$ 123,656
2024 Total Consumer Spending :	$ 799 M	$ 5549 M	$ 12686 M
2024 Median Age :	37	38	40
2024 Total Households :	9,178	56,398	119,738
2024 Pop Age 25+: Bachelor's Degree :	3,500	23,469	54,703
2024 Average Home Value :	$ 635,649	$ 730,964	$ 797,079

*ESRI data is presented for informational purposes only

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