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Starbucks
1789 West Jefferson Boulevard, Los Angeles, CA 90018
$3,495,000
Cap Rate 4.25%
Summary
| Price $3,495,000 | Built/Renov 2017 | Tenant Starbucks |
| Cap Rate 4.25% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
1,486
| Lease Start
06-24-2017
| #Units
36,000
|
| Price/SF $2,351.95 | Expiration
06-30-2037
| Tenant Type Fast Food/QSR |
| NOI $148,500 | R. Term 13.6 | Ownership Fee Simple |
| Rent/SF
$99.93
| Increases 10.0%/5/yrs | Pop 5Mi 1,295,951 |
| Lot/AC 0.27 | Options 3/5yrs/10% | AHHI 5Mi $82,319 |
| | |
Lease Highlights
- Starbucks has 13+ years remaining on its current lease term with 3 (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 Jefferson Blvd and Western Avenue, with access to 50,000 vehicles passing by daily. The property is approximately 2 miles away from the on/off ramps of Interstate 10 (356,000 VPD) and Interstate 110 (277,000 VPD). Additionally, it is situated about 1 mile from the USC campus. The 5-mile trade area surrounding the...
...Features
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Signalized intersection
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High traffic 50M+ VPD
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Dense retail corridor
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Highway location
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Dense 200M+ pop 5 mi
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Top 100 MSA
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Absolute NNN
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Long 10+ yr lease
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Traded and rated company
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Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 59,024 | 565,861 | 1,312,076 |
| 2023 Total Population : | 59,598 | 552,696 | 1,284,983 |
| 2023 Employed Civilian Pop : | 26,432 | 255,234 | 612,397 |
| 2023 Total Businesses : | 927 | 22,896 | 71,121 |
| 2023 Average Household Income : | $ 77,903 | $ 77,595 | $ 90,600 |
| 2023 Total Consumer Spending : | $ 1279 M | $ 13120 M | $ 37177 M |
| 2023 Median Age : | 33 | 34 | 35 |
| 2023 Total Households : | 18,944 | 194,275 | 474,128 |
| 2023 Pop Age 25+: Bachelor's Degree : | 5,736 | 67,983 | 193,573 |
| 2023 Average Home Value : | $ 834,115 | $ 917,655 | $ 982,346 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| W Jefferson Blvd | S Western Ave | 2012 | 20,437 | 0.03 mi |
| S Western Ave | W Jefferson Blvd | 2011 | 29,456 | 0.04 mi |
| W Jefferson Blvd | S Harvard Walk | 2009 | 20,864 | 0.10 mi |
| S Western Ave | W 35th Pl | 2011 | 31,515 | 0.12 mi |
| W 35th St | S St Andrews Pl | 2005 | 779 | 0.16 mi |
| W Jefferson Blvd | S la Salle Ave | 2009 | 18,824 | 0.16 mi |
| S St Andrews Pl | W 35th St | 2005 | 2,068 | 0.19 mi |
| S Western Ave | W 29th St | 2011 | 28,304 | 0.20 mi |
| S St Andrews Pl | W 35th St | 2005 | 2,007 | 0.22 mi |
| S Western Ave | W 36th St | 2011 | 28,704 | 0.23 mi |
