Starbucks

2767 North Pinal Avenue, Casa Grande, AZ 85122

$2,536,000

Cap Rate 5.50%

$2,631,886

Cap Rate 5.30%

DOM: 272 Updated: 07.22.24 Posted: 09.13.23 Status: Sold 06.12.24

Summary

Price $2,536,000 $2,631,886	Built/Renov 2023	Tenant Starbucks
Cap Rate 5.50% 5.30%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,600	Lease Start 08-01-2023	#Units 36,000
Price/SF $975.38 $1,012.26	Expiration 07-31-2033	Tenant Type Fast Food/QSR
NOI $139,490	R. Term 8.2	Ownership Fee Simple
Rent/SF $53.65	Increases 10.0%/4/yrs	Pop 5Mi 57,258
Lot/AC 1.43	Options 4/5yrs/10%	AHHI 5Mi $82,199

Lease Highlights

Brand-new 2023 construction
Starbucks recently signed a brand-new 10-year lease with 4 (5-year) options to extend
Lease features 10% rental increases every 5 years
Favorable NN+ lease with landlord responsible for roof & structure
Corporate guaranteed lease
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

Starbucks is situated on N Pinal Avenue with access to 19,019 vehicles passing by daily. It is conveniently located within 1 mile of Casa Grande Union High School, which has an enrollment of approximately 1,977 students. The subject property is also adjacent to Fry's Marketplace, Walgreens, and Villago Village, a community consisting of 1,021 homes. Casa Grande Municipal Airport is just 1 mile...

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Key Features

New construction
Near major nationals
Strategically located
Top 100 MSA
New development zone
Brand new lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Casa Grande, Arizona Zip Code 85122 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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,068	34,694	64,245
2023 Total Population :	4,816	31,079	59,937
2023 Employed Civilian Pop :	2,221	14,084	26,732
2023 Total Businesses :	64	401	1,300
2023 Average Household Income :	$ 87,678	$ 83,794	$ 85,078
2023 Total Consumer Spending :	$ 119 M	$ 829 M	$ 1624 M
2023 Median Age :	34	37	37
2023 Total Households :	1,575	11,348	21,881
2023 Pop Age 25+: Bachelor's Degree :	469	2,569	4,917
2023 Average Home Value :	$ 313,037	$ 269,432	$ 263,720

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W McCartney Rd	N Pinal Ave	2016	9,630	0.19 mi
West McCartney Road	N Pinal Ave	2018	11,495	0.20 mi
North Pinal Avenue	W McCartney Rd	2019	21,243	0.26 mi
North Pinal Avenue	W Palm Ave	2019	19,559	0.37 mi
W McCartney Rd	N Casa Grande Ave	2013	8,990	0.55 mi
West McCartney Road	N Casa Grande Ave	2019	12,035	0.55 mi
North Pinal Avenue	W McCartney Rd	2021	26,362	0.56 mi
North Pinal Avenue	N Sidewinder Trl	2018	21,906	0.56 mi
N Casa Grande Ave	W McCartney Rd	2013	3,600	0.58 mi
West Centennial Boulevard	N Piper Ave	2019	1,916	0.58 mi

Listing Broker

Shane Carter

Cushman & Wakefield

Contact

37 Listings
6587 Views
31 Sold

Chris Hollenbeck

Cushman & Wakefield

Contact

37 Listings
6596 Views
31 Sold

Shane Carter

Shane Carter is a member of a multi-service retail brokerage team in Phoenix, Arizona along with Chris Hollenbeck and Brent Mallonee. One of Arizona’s premier retail teams, they are able to assist clients with expertise in site acquisition, project development, project leasing and investment sales. Working in conjunction with his team, Shane has been able to provide prominent owners, users and developers with astute acquisition, disposition and market growth strategies. Since starting his comme

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Chris Hollenbeck

Mr. Hollenbeck is a member of a multi-service retail team that delivers comprehensive, integrated real estate services to retail investors, developers and occupiers. He specializes in Capital Markets and manages his team’s national Investment Services Portfolio. Mr. Hollenbeck has an extensive history in the sale of retail properties through his past and current career experience at a national development company. Since moving to commercial retail brokerage, he completed over 1,000 transactions

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