Starbucks

1589 Main Street, San Luis, AZ 85349

$2,950,000

Cap Rate 5.00%

Views: 119 DOM: 488 Updated: 09.05.24 Posted: 05.08.23 Status: Active

Summary

Price $2,950,000	Built/Renov 2022	Tenant Starbucks
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,403	Lease Start 09-01-2022	#Units 36,000
Price/SF $1,227.63	Expiration 08-31-2032	Tenant Type Fast Food/QSR
NOI $147,500	R. Term 7.12	Ownership Fee Simple
Rent/SF $61.38	Increases 10.0%/4/yrs	Pop 5Mi 27,175
Lot/AC 0.81	Options 4/5yrs/10%	AHHI 5Mi $50,647

Christopher DePierro

Faris Lee Investments

Contact

Lease Highlights

Brand new 2022 construction
Starbucks recently signed a brand new 10 year lease with 4 (5-year) options
Lease features 10% rental increases throughout the initial term and at each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)

Location Description

The subject property is a brand new Starbucks, constructed in 2022, which is strategically located as a Walmart out-parcel at the busy retail intersection of E County 22nd St (7427 VPD) and N Main Street (16,744 VPD). The site is located in a prime development location, with several retailers slated to be coming to the area including Cleanfreak Car Wash, Burger King, and AEA Federal Credit...

...

Key Features

New construction
Near major nationals
WalMart out-parcel
Strategically located
Highway location
Strong tenant synergy
Business growth area
Brand new lease
Traded and rated company
Investment grade tenant

...

Links

Starbucks Wikipedia Starbucks Wikipedia San Luis, Arizona Zip Code 85349 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,729	25,243	31,614
2023 Total Population :	7,784	25,341	31,446
2023 Employed Civilian Pop :	2,650	8,876	10,338
2023 Total Businesses :	77	233	251
2023 Average Household Income :	$ 48,862	$ 65,738	$ 69,766
2023 Total Consumer Spending :	$ 90 M	$ 382 M	$ 499 M
2023 Median Age :	28	28	29
2023 Total Households :	2,109	6,615	8,157
2023 Pop Age 25+: Bachelor's Degree :	208	1,113	1,323
2023 Average Home Value :	$ 138,275	$ 176,306	$ 192,334

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
County 22nd Street South	S Ave J	2019	9,123	0.11 mi
Avenue J	Piceno Dr	2004	12,927	0.22 mi
Main Street	D St	2021	19,726	0.92 mi
Avenue J	Piceno Dr	2021	17,648	0.93 mi
D Street	1st St	2021	16,147	1.07 mi
US 95	B St	2020	17,645	1.19 mi
Main Street	B St	2021	19,886	1.19 mi
1st Avenue	B St	2021	11,429	1.25 mi
Avenue J	Co 20 1/2 St S	2002	12,258	1.40 mi
10th Avenue	Fuentes	2019	6,770	2.31 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT