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Views: 78 DOM: 151 Updated: 11.27.24 Posted: 07.04.24 Status: Active

Summary

Price $3,214,953
Built/Renov 2024
Tenant Starbucks
Cap Rate 5.35%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 1,302
Lease Start 09-21-2024
#Units 38,038
Price/SF $2,469.24
Expiration 09-20-2034
Tenant Type Fast Food/QSR
NOI $172,000
R. Term 9.9
Ownership Fee Simple
Rent/SF $132.10
Increases 10.0%/5/yrs
Pop 5Mi 548,163
Lot/AC 0.46
Options 4/5yrs/10%
AHHI 5Mi $75,287

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 4 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the primary term and option periods
  • NN lease | Minimal landlord responsibilities 
  • Corporate guarantee | Investment grade tenant

Location Description

Starbucks is strategically located on Glendale Avenue, a major arterial road, with access to a substantial daily traffic count of 60,026 vehicles. The property is situated in Historic Downtown Glendale, an entertainment hub with multiple new restaurants and retail establishments. Additionally, it is situated within the Glendale Center shopping mall, which features neighboring well-known...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Starbucks
  • Guarantor:Corp T and Rated
  • Company:Starbucks Corporation
  • # Units:38,038
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation (NASDAQ: SBUX) is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 21,948 209,242 554,139
2024 Total Population : 21,747 208,185 551,352
2024 Employed Civilian Pop : 9,040 94,203 256,687
2024 Total Businesses : 723 3,547 10,556
2024 Average Household Income : $ 64,967 $ 75,765 $ 81,128
2024 Total Consumer Spending : $ 457 M $ 4559 M $ 12970 M
2024 Median Age : 33 32 33
2024 Total Households : 7,851 67,319 179,159
2024 Pop Age 25+: Bachelor's Degree : 1,520 14,538 41,182
2024 Average Home Value : $ 335,314 $ 384,624 $ 415,248
*ESRI data is presented for informational purposes only

Listing Broker

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