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Starbucks, Oroville, CA

Starbucks

Oroville, California

Price $3,400,000
Cap Rate 4.00%
NOI $136,000
Lease Term 10 Year
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 (5) Years
Year Built 2020
Building Size 2,200 SF
Lot Size 0.48 Acres (20,909 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Investment Highlights

CORPORATE NET LEASE TO HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for 10 years, plus four (4) five-year options
» 10% fixed rental increases every five years in initial term and extension terms, providing a hedge against inflation
» Investment grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 29,000 locations and $26.51 billion in annual revenue
» 2020 construction featuring upgraded construction and dedicated drive-thru, boosting sales revenue and catering to traffic

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED AND GROWING CALIFORNIA CORRIDOR
» High-visibility location at the signalized hard-corner of State Route 162/Olive Highway and Lower Wyandotte Road (combined 38,168 AADT)
» Excellent location in a major commuter corridor, with close proximity to several high density single-family developments
» 44,877 residents live within a five-mile radius of the property, establishing regular local traffic to the site
» Projected 12 percent average household income increase within five miles of the site in the next five years, poising Starbucks and Oroville for significant growth

CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Surrounded by several national retailers, including Raley’s, Marshalls, Petco, Carl’s Jr, Taco Bell, and many more, promoting crossover shopping to the property
» Walking distance from Oroville Medical Complex, Oroville’s second-largest employer (153 beds, 1,454 employees)
» Two miles from Gold Country Casino, which features 87 rooms, 900 gaming machines, 27 tables, and is open 24/7
» 1.5 miles from Pacific Coast Producers, Oroville’s third-largest employer (1,060 employees)
» Beneficial proximity to highly attended nearby schools, including Oroville City Elementary School, Stanford Avenue Elementary, and Central Middle School (combined 3,697 students)



Property Description

The property has a high-visibility location at the signalized hard-corner of State Route 162/Olive Highway and Lower Wyandotte Road (38,168 AADT at the intersection). The site features an excellent location in a growing California commuter corridor, with close proximity to several high-density single-family developments. The site is located in a densely populated area as well, with 44,877 residents living within a five-mile radius of the property, establishing regular local traffic to the site. With a projected 12 percent average annual household income increase within five miles of the site in the next five years, Starbucks and Oroville are poised for significant concurrent growth.

The property benefits from its location near large employers, retailers, and community hubs. The location is surrounded by several national retailers, including Raley’s, Marshalls, Petco, Carl’s Jr, Taco Bell, Big O Tires, and many more, promoting crossover shopping to the property. Oroville Medical Complex (the second-largest employer in Oroville), is within walking distance of the site, and features 153 beds and 1,454 employees. The site is a convenient two miles from Gold Country Casino, which features 87 rooms, 900 gaming machines, 27 tables, and is open 24/7, significantly increasing commuter traffic to the site. The location is within 1.5 miles of Oroville’s third-largest employer, Pacific Coast Producers (1,060 employees), and the property also maintains a beneficial proximity to highly attended nearby schools, including Oroville City Elementary School, Stanford Avenue Elementary, and Central Middle School (combined 3,697 students).

Contact Us About This Property

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