Starbucks

1600-1612 Ives Avenue, Oxnard, CA 93033

$6,452,500

Cap Rate 3.25%

$4,670,000

Cap Rate 4.50%

DOM: 62 Updated: 06.09.24 Posted: 03.14.24 Status: Sold 05.15.24

Summary

Price $6,452,500 $4,670,000	Built/Renov 2024	Tenant Starbucks
Cap Rate 3.25% 4.50%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 1,000	Lease Start 04-01-2024	#Units 36,000
Price/SF $6,452.50 $4,670.00	Expiration 03-31-2034	Tenant Type Fast Food/QSR
NOI $210,000	R. Term 8.11	Ownership Fee Simple
Rent/SF $210.00	Increases 10.0%/5/yrs	Pop 5Mi 241,668
Lot/AC 1.78	Options 4/5yrs/10%	AHHI 5Mi $98,332

Lease Highlights

Brand new 2024 construction
Starbucks will be executing a brand new 10-year lease with 4 (5-year) 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, hard corner intersection of Oxnard Blvd. and Statham Blvd., a major commercial and retail corridor, with access to a combined daily traffic count of 22,000 vehicles. Additionally, the property is located near the intersection with South Rose Avenue, one of the highest trafficked intersections, boasting a substantial traffic count of 58,000...

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Key Features

New construction
Signalized intersection
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 10+ yr lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Oxnard, California Zip Code 93033 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...

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Listing Broker

Kevin Fryman

Hanley Investment Group

Contact

11 Listings
2801 Views
2 Sold

Bill Asher

Hanley Investment Group

Contact

151 Listings
27215 Views
75 Sold

Kevin Fryman

An Executive Vice President at Hanley Investment Group, Kevin Fryman is a retail investment specialist in the acquisition and disposition of shopping centers nationwide. Focusing on multi-tenant strip centers, single-tenant NNN properties, and grocery-anchored centers throughout the U.S., Kevin has built strong relationships with real estate industry professionals, including both private and institutional investors as well as investment brokers. His extensive market knowledge combined with h

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Bill Asher

Bill Asher specializes in advising clients in the acquisition and disposition of retail properties nationwide. With over 20 years of experience in commercial real estate, his transaction expertise, industry relationships, and unparalleled professionalism have allowed him to close and contribute to more than $2 billion in sales, including over 550 sales in the last 10 years. Bill’s dedication and unwavering commitment to his clients have made him one of the top agents at the company earning him

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