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Starbucks

5850 South Eastern Avenue, Los Angeles, CA 90040

$6,210,000

Cap Rate 4.75%

Views: 100 DOM: 262 Updated: 09.20.24 Posted: 02.11.24 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 14.4
Ownership Fee Simple
Rent/SF $120.80
Increases 10.0%/5/yrs
Pop 5Mi 821,168
Lot/AC 0.64
Options 4/5yrs/10%
AHHI 5Mi $75,677

Bill Asher
Hanley Investment Group
Contact

Jeff Lefko
Hanley Investment Group
Contact

Lease Highlights

  • Brand-new 2023 construction
  • Starbucks recently executed a brand-new 15-year lease with 3 (5-year) and 1 (4-year, 11months) options to extend
  • The lease features 10% rental increases throughout the initial term and each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the signalized, hard corner intersection of S Eastern Ave and Slauson Ave, with access to a combined daily traffic count of 51,000 vehicles. This prime location is further enhanced by the lack of competition in the area, as it stands as the sole Starbucks Drive-Thru within a 1.5-mile radius. Additionally, the property is situated within Commerce Office...

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Key Features

  • New construction

  • Signalized intersection

  • Shopping Ctr out-parcel

  • Freeway close

  • Top 100 MSA

  • Strong demographics

  • Brand new lease

  • Long 15+ yr lease

  • Traded and rated company

  • Investment grade tenant

    • ...

Links

Starbucks Wikipedia Starbucks Wikipedia Los Angeles, California Zip Code 90040 Broker Site Page Hyperlapse Video

Documents

Download OM

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
2028 Total Population : 17,196 258,590 775,733
2023 Total Population : 17,462 260,924 784,418
2023 Employed Civilian Pop : 7,601 112,544 338,418
2023 Total Businesses : 1,027 9,444 26,113
2023 Average Household Income : $ 71,371 $ 78,251 $ 86,224
2023 Total Consumer Spending : $ 281 M $ 4786 M $ 16142 M
2023 Median Age : 29 31 32
2023 Total Households : 4,540 70,650 217,043
2023 Pop Age 25+: Bachelor's Degree : 575 14,485 53,471
2023 Average Home Value : $ 556,841 $ 663,045 $ 699,916
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Eastern Ave E Slauson Ave 2009 21,915 0.13 mi
S Eastern Ave Peachtree St 2009 23,684 0.17 mi
E Slauson Ave Alexander St 2008 24,114 0.19 mi
E Slauson Ave S Eastern Ave 2008 27,622 0.20 mi
Mansfield Way S Eastern Ave 2009 2,899 0.24 mi
Rickenbacker Rd S Eastern Ave 2009 3,813 0.31 mi
Rickenbacker Rd S Eastern Ave 2009 1,007 0.31 mi
I- 710 Gage Ave 2013 187,000 0.44 mi
Watcher St Eastern Ave 2009 3,748 0.44 mi
Watcher St Eastern Ave 2009 2,384 0.45 mi

Listing Broker

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