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Views: 98 DOM: 177 Updated: 10.30.24 Posted: 05.28.24 Status: Active

Summary

Price $6,210,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 4.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 2,442
Lease Start 02-15-2024
#Units 38,038
Price/SF $2,543.00
Expiration 02-28-2039
Tenant Type Fast Food/QSR
NOI $295,000
R. Term 14.3
Ownership Fee Simple
Rent/SF $120.80
Increases 10.0%/5/yrs
Pop 5Mi 821,168
Lot/AC 0.64
Options 3/5yrs/10%
AHHI 5Mi $75,677

Lease Highlights

  • Brand new 2023 construction
  • Starbucks recently executed a brand new 15-year lease with 3 (5-year) and 1 (4-year, 11 months) options to extend
  • The lease features 10% rental escalations 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 intersection of Eastern Avenue and Slauson Avenue, with access to a robust combined daily traffic count of 51,000 vehicles. The property is conveniently situated one mile from the 5 Freeway (240,000 VPD) and 710 Freeway (218,000 VPD). Additionally, it is situated within Commerce Office Park, which offers 2.5 million SF of office and...

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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 : 16,480 248,085 745,703
2024 Total Population : 17,022 254,267 766,475
2024 Employed Civilian Pop : 7,853 115,516 346,960
2024 Total Businesses : 1,039 9,505 26,411
2024 Average Household Income : $ 76,402 $ 82,959 $ 91,901
2024 Total Consumer Spending : $ 306 M $ 5127 M $ 17417 M
2024 Median Age : 33 35 36
2024 Total Households : 4,572 70,610 217,278
2024 Pop Age 25+: Bachelor's Degree : 829 16,218 58,944
2024 Average Home Value : $ 617,200 $ 707,288 $ 743,480
*ESRI data is presented for informational purposes only

Listing Broker

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