Views: 0 DOM: 34 Updated: 12.01.23 Posted: 11.07.23 Status: Active


Price $3,100,000
Built/Renov 2023
Tenant Starbucks
Cap Rate 5.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 1,000
Lease Start 09-15-2023
#Units 36,000
Price/SF $3,100.00
Expiration 02-28-2034
Tenant Type Fast Food/QSR
NOI $155,000
R. Term 10.2
Ownership Fee Simple
Rent/SF $155.00
Increases 10.0%/5/yrs
Pop 5Mi 116,640
Lot/AC 0.83
Options 4/5yrs/10%
AHHI 5Mi $83,915

Lease Highlights

  • Starbucks executed a brand-new 10-year lease in 2023 with 4 (5-year) options to renew
  • Lease features rental increases of 10% every 5 years in the primary term and in each option
  • Favorable NN+ lease | Landlord responsible for roof & structure
  • 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 California Highway 59 and Olive Avenue, with a combined traffic count of 38,000 vehicles passing by daily. The property is ideally located along Olive Avenue, which is Merced's primary commercial and retail corridor, and is in close proximity to national retailers such as Walmart, Lowe’s, Hobby Lobby, Target,...



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  • 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...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 10,303 83,186 119,827
2023 Total Population : 10,225 82,572 118,971
2023 Employed Civilian Pop : 3,830 30,640 44,789
2023 Total Businesses : 301 2,474 2,885
2023 Average Household Income : $ 59,650 $ 69,287 $ 76,282
2023 Total Consumer Spending : $ 185 M $ 1605 M $ 2452 M
2023 Median Age : 30 30 31
2023 Total Households : 3,525 26,571 36,942
2023 Pop Age 25+: Bachelor's Degree : 877 5,478 9,120
2023 Average Home Value : $ 276,875 $ 396,337 $ 410,303
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
W Olive Ave Loughborough Dr 2006 35,146 0.07 mi
Snelling Highway Santa Fe Rd 2021 13,000 0.09 mi
N Santa Fe Ave Snelling Hwy 2012 19,673 0.19 mi
Loughborough Dr Conestoga Dr 2006 8,666 0.19 mi
Snelling Hwy N Santa Fe Ave 2017 12,000 0.23 mi
Snelling Hwy Willowbrook Dr 2010 21,740 0.26 mi
Cooper Ave Snelling Hwy 2006 7,083 0.28 mi
W Olive Ave Austin Ave 2006 31,360 0.34 mi
Loughborough Dr Olympia Ct 2006 4,953 0.44 mi
W North Bear Creek Dr Creekside Dr 2006 1,505 0.47 mi

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