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Views: 126 DOM: 74 Updated: 10.30.24 Posted: 09.19.24 Status: Active

Summary

Price $4,115,000
Built/Renov 2024
Tenant Starbucks
Cap Rate 4.50%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,900
Lease Start 12-01-2024
#Units 38,038
Price/SF $2,165.79
Expiration 02-28-2035
Tenant Type Fast Food/QSR
NOI $185,000
R. Term 10.3
Ownership Fee Simple
Rent/SF $97.37
Increases 10.0%/5/yrs
Pop 5Mi 98,724
Lot/AC 0.79
Options 4/5yrs/10%
AHHI 5Mi $104,191

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases 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, hard corner intersection of Palm Canyon Drive and Date Palm Drive, a major north/south thoroughfare, with access to a robust daily traffic of 55,000 vehicles. The property is directly across from the new Agua Caliente Casino Cathedral City, which is ranked among the top 2% of casinos nationwide according to Placer.ai. Situated in the city's...

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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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