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Views: 76 DOM: 28 Updated: 10.02.24 Posted: 09.12.24 Status: Active

Summary

Price $5,500,000
Built/Renov 2017
Tenant Starbucks (GL)
Cap Rate 4.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 880
Lease Start 03-01-2018
#Units 38,038
Price/SF $6,250.00
Expiration 02-28-2038
Tenant Type Fast Food/QSR
NOI $220,000
R. Term 13.4
Ownership Ground Lease
Rent/SF $250.00
Increases 10.0%/5/yrs
Pop 5Mi 830,463
Lot/AC 0.39
Options 2/5yrs
AHHI 5Mi $120,518

Lease Highlights

  • Starbucks has 13+ years remaining on the current ground lease term with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term, FMV at the start of each option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located at the hard corner intersection of La Cienega Blvd. and Centinela Avenue, one of the busiest intersections in Los Angeles County, with a substantial combined daily traffic count of 131,000 vehicles. The property benefits from excellent visibility and convenient ingress/egress on both streets. It is the closest Starbucks to the 405 Freeway, situated less than...

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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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Listing Broker

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