✖
Starbucks
283 Orange Avenue, Chula Vista, CA 91911
$4,995,000
Cap Rate 4.00%
Summary
| Price $4,995,000 | Built/Renov 2023 | Tenant Starbucks |
| Cap Rate 4.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
1,129
| Lease Start
09-21-2023
| #Units
36,000
|
| Price/SF $4,424.27 | Expiration
02-01-2034
| Tenant Type Fast Food/QSR |
| NOI $200,000 | R. Term 10.1 | Ownership Fee Simple |
| Rent/SF
$177.15
| Increases 10.0%/5/yrs | Pop 5Mi 364,343 |
| Lot/AC 1.44 | Options 4/5yrs/9% | AHHI 5Mi $115,765 |
| | |
Lease Highlights
- Brand-new construction, opening September 2023
- Starbucks executed a brand-new 10-year lease in 2023 with 4 (5-year) options to extend
- Lease features rental increases of 10% every 5 years in the primary term and in each option
- Absolute NNN lease | Zero landlord responsibilities
- Corporate guarantee by Starbucks Corporation (NASDAQ: SBUX)
- Starbucks is an investment grade tenant (S&P: BBB+)
Location Description
Starbucks is strategically located at the signalized, hard corner intersection of Orange Ave and Third Ave, with a combined traffic count of 35,506 vehicles passing by daily. The property is within close proximity to national/credit tenants including O’Reilly’s, AutoZone, and Jack in the Box. The 5-mile trade area surrounding the location is supported by a population of 116,640 residents, with...
...Features
-
Signalized intersection
-
Hard corner intersection
-
Near major nationals
-
Highway location
-
Hospital close
-
Long 15+ yr lease
-
Absolute NNN
-
Traded and rated company
-
Corporate Guarantee
-
Investment grade tenant
...
Maps
Tenant
- Tenant: Starbucks
- Guarantor:Corp T and Rated
- # 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 : | 32,380 | 210,345 | 380,496 |
| 2023 Total Population : | 32,431 | 211,209 | 368,932 |
| 2023 Employed Civilian Pop : | 14,083 | 93,806 | 167,531 |
| 2023 Total Businesses : | 950 | 5,684 | 10,407 |
| 2023 Average Household Income : | $ 78,368 | $ 94,220 | $ 104,136 |
| 2023 Total Consumer Spending : | $ 698 M | $ 5174 M | $ 10054 M |
| 2023 Median Age : | 36 | 35 | 35 |
| 2023 Total Households : | 10,089 | 63,561 | 112,284 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,050 | 19,489 | 41,101 |
| 2023 Average Home Value : | $ 476,729 | $ 591,951 | $ 656,168 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| 3rd Avenue | Alley | 2022 | 20,303 | 0.07 mi |
| Orange Ave | Banner Ave | 2012 | 16,000 | 0.11 mi |
| 3rd Avenue | Quintard St | 2022 | 17,580 | 0.11 mi |
| Quintard Street | el Lugar St | 2022 | 5,647 | 0.16 mi |
| Orange Avenue | Quintard St | 2022 | 16,741 | 0.17 mi |
| Quintard St | 2nd Ave | 2017 | 5,647 | 0.19 mi |
| 2nd Avenue | Quintard St | 2022 | 4,790 | 0.23 mi |
| 3rd Ave | Quintard St | 2013 | 26,200 | 0.24 mi |
| Anita St | Fresno Ave | 2013 | 4,000 | 0.30 mi |
| 4th Avenue | Anita St | 2022 | 11,321 | 0.31 mi |
