Starbucks

1789 West Jefferson Boulevard, Los Angeles, CA 90018

$3,250,000

Cap Rate 4.57%

$3,495,000

Cap Rate 4.25%

Views: 97 DOM: 30 Updated: 01.16.24 Posted: 11.07.23 Status: Sold 12.08.23

Summary

Price $3,250,000 $3,495,000	Built/Renov 2017	Tenant Starbucks
Cap Rate 4.57% 4.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 1,486	Lease Start 06-24-2017	#Units 36,000
Price/SF $2,187.08 $2,351.95	Expiration 06-30-2037	Tenant Type Fast Food/QSR
NOI $148,500	R. Term 12.5	Ownership Fee Simple
Rent/SF $99.93	Increases 10.0%/5/yrs	Pop 5Mi 1,295,951
Lot/AC 0.27	Options 3/5yrs/10%	AHHI 5Mi $82,319

Lease Highlights

Starbucks has 13+ years remaining on its current lease term with 3 (5-year) options to extend
Lease features rental increases of 10% every 5 years in the primary term and in each option
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of Jefferson Blvd and Western Avenue, with access to 50,000 vehicles passing by daily. The property is approximately 2 miles away from the on/off ramps of Interstate 10 (356,000 VPD) and Interstate 110 (277,000 VPD). Additionally, it is situated about 1 mile from the USC campus. The 5-mile trade area surrounding the...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Highway location
Dense 200M+ pop 5 mi
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Los Angeles, California Zip Code 90018 Broker Site Page

Maps

Local Information

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	59,024	565,861	1,312,076
2023 Total Population :	59,598	552,696	1,284,983
2023 Employed Civilian Pop :	26,432	255,234	612,397
2023 Total Businesses :	927	22,896	71,121
2023 Average Household Income :	$ 77,903	$ 77,595	$ 90,600
2023 Total Consumer Spending :	$ 1279 M	$ 13120 M	$ 37177 M
2023 Median Age :	33	34	35
2023 Total Households :	18,944	194,275	474,128
2023 Pop Age 25+: Bachelor's Degree :	5,736	67,983	193,573
2023 Average Home Value :	$ 834,115	$ 917,655	$ 982,346

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Jefferson Blvd	S Western Ave	2012	20,437	0.03 mi
S Western Ave	W Jefferson Blvd	2011	29,456	0.04 mi
W Jefferson Blvd	S Harvard Walk	2009	20,864	0.10 mi
S Western Ave	W 35th Pl	2011	31,515	0.12 mi
W 35th St	S St Andrews Pl	2005	779	0.16 mi
W Jefferson Blvd	S la Salle Ave	2009	18,824	0.16 mi
S St Andrews Pl	W 35th St	2005	2,068	0.19 mi
S Western Ave	W 29th St	2011	28,304	0.20 mi
S St Andrews Pl	W 35th St	2005	2,007	0.22 mi
S Western Ave	W 36th St	2011	28,704	0.23 mi

Listing Broker

Bill Asher

Hanley Investment Group

Contact

151 Listings
19052 Views
63 Sold

Jeff Lefko

Hanley Investment Group

Contact

151 Listings
18590 Views
65 Sold

Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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Jeff Lefko

As Executive Vice President at Hanley Investment Group, Jeff Lefko specializes in advising clients in the acquisition and disposition of retail properties nationwide. Jeff is focused on developing meaningful relationships that go beyond a singular transaction by proactively advising his clients to help achieve their long-term financial goals and objectives. Jeff’s commitment to his clients has allowed him to close over $1.5 billion in sales since 2017, which included 114 transactions va

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