Starbucks

630 West Baseline Road, Tempe, AZ 85282

$2,577,000

Cap Rate 4.85%

$2,605,000

Cap Rate 4.80%

DOM: 147 Updated: 04.22.23 Posted: 02.13.23 Status: Sold 07.10.23

Summary

Price $2,577,000 $2,605,000	Built/Renov 2019	Tenant Starbucks
Cap Rate 4.85% 4.80%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,400	Lease Start 08-09-2019	#Units 36,000
Price/SF $1,073.75 $1,085.42	Expiration 02-28-2030	Tenant Type Fast Food/QSR
NOI $125,000	R. Term 4.8	Ownership Fee Simple
Rent/SF $52.08	Increases 10.0%/1/yrs	Pop 5Mi 326,047
Lot/AC 0.83	Options 4/5yrs/10%	AHHI 5Mi $89,520

Highlights

Starbucks has been operating in this location since 2019
The tenant has 7 years remaining on its current lease with 4 (5-year) options to extend
Lease features 10% increases every 5 years throughout the initial lease term and at each option
Favorable NN+ lease, Landlord responsible for roof & structure
Corporate guaranteed by Starbucks Corporation (NASDAQ: SBUX)

Location Description

Starbucks is located near the signalized, hard corner intersection of West Baseline Road and South Kyrene Road which sees 68,400 vehicles per day. The building is equipped with a drive-thru, providing ease and convenience for customers. The site is one mile off two major Phoenix area freeways (I-10 and US-60) and down the road from Arizona Mills, the state's largest indoor outlet mall. Nearby...

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Key Features

Near major nationals
Freeway close
Strong tenant synergy
Dense 200M+ pop 5 mi
Top 100 MSA
Affluent suburb location
Population increase trend
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Tempe, Arizona Zip Code 85282 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 :	21,706	136,956	330,132
2023 Total Population :	21,508	136,069	321,513
2023 Employed Civilian Pop :	12,913	76,703	181,262
2023 Total Businesses :	686	6,153	14,851
2023 Average Household Income :	$ 77,050	$ 95,964	$ 99,498
2023 Total Consumer Spending :	$ 623 M	$ 4596 M	$ 11664 M
2023 Median Age :	30	32	33
2023 Total Households :	9,131	54,785	134,118
2023 Pop Age 25+: Bachelor's Degree :	3,027	23,254	56,314
2023 Average Home Value :	$ 311,722	$ 393,509	$ 417,331

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Baseline Road	N Roosevelt St	2018	32,984	0.03 mi
W Baseline Rd	Roosevelt St	2016	42,459	0.05 mi
W Baseline Rd	S Kyrene Rd	2015	38,788	0.26 mi
West Baseline Road	S Kyrene Rd	2018	42,956	0.26 mi
S Kyrene Rd	Baseline Mobile Home Park	2015	5,505	0.35 mi
South Kyrene Road	Baseline Mobile Home Park	2018	5,351	0.35 mi
Hardy Dr	W Minton Dr	2015	11,675	0.36 mi
West Baseline Road	S Apartment	2018	41,293	0.41 mi
West Baseline Road	S Terry Ln	2018	31,431	0.42 mi
W Baseline Rd	S Terry Ln	2016	31,478	0.43 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
37209 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
37330 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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