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Starbucks, Salinas, CA

Starbucks

Salinas, CA 93905

Price $3,226,000
Cap Rate 4.65%
NOI $150,000
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five Years Through Initial Term And First Two (2) Option Periods, 6% Rental Increases In Final Two (2) Option Periods
Year Built 2022
Building Size 965 SF
Lot Size 0.53 Acres (23,086 SF)
Status Available
Lead Broker Information Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENTGRADE SINGLE-TENANT ASSET
» 10-year corporate net lease to Starbucks Corporation
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 33,833 locations and $29.1 billion in annual revenue
» Starbucks Corporation is rated “BBB+” by Standard & Poor’s
» 10% fixed rental increases every five years in the initial term, providing a hedge against inflation
» New 2022 construction with dedicated drive-thru and walk-up window with mobile ordering

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING CALIFORNIA CORRIDOR
» Signalized hard-corner location at the intersection of Williams Road and East Market Street (18,035 AADT)
» Proximity to major California thoroughfares, including U.S. Route 101 (74,100 AADT)
» 160,803 residents live within a five-mile radius
» Projected population and income increase within 5-, 10-, and 15-mile radii over the next five years, poising Starbucks and Salinas for steady concurrent growth

INFILL LOCATION NEAR LARGE EMPLOYERS, SCHOOLS, AND SALINAS COMMUNITY HUBS
» 3.5 miles from Hartnell College (17,000 students) and 10 miles from Cal State University Monterey Bay (7,634 students), establishing a strong customer base
» Immediately surrounded by large, single family housing complexes
» Walking distance from Salinas Fairways Golf Course
» Located near major California tourist attractions and community hubs, including Monterey Bay, Laguna Seca Raceway, and Carmel-By-The-Sea
» Common gateway to San Jose and the Bay Area, home to 7.75 million people


Property Description

This Starbucks has a signalized hard-corner location at the intersection of Williams Road and East Market Street (18,035 AADT). The property provides proximity to major California thoroughfares, including U.S. Route 101 (74,100 AADT). 160,803 residents live within a five-mile radius, and with projected population and income increase within 5-, 10-, and 15-mile radii over the next five years, Starbucks and Salinas are poised for steady concurrent growth.

The site is surrounded by large employers and community hubs. The property is 3.5 miles from Hartnell College (17,000 students) and 10 miles from Cal State University Monterey Bay (7,634 students), establishing a strong customer base. The location is also immediately surrounded by large, single family housing complexes and is walking distance from Salinas Fairways Golf Course. This Starbucks is located near major California tourist attractions and community hubs, including Monterey Bay, Laguna Seca Raceway, and Carmel-By-The-Sea, and serves as a common gateway to San Jose and the Bay Area, home to 7.75 million people.

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