Starbucks
| Price | $3,059,000 |
| Cap Rate | 4.25% |
| NOI | $130,000 |
| Lease Term | 10 Years And Four Months |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof And Structure |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2018 |
| Building Size | 2,200 SF |
| Lot Size | 1.06 Acres (46,332 SF) |
| Status | Available |
| Lead Broker Information | Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior 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 and four months, plus four five-year options
» 10% fixed rental increases every five years in initial term and options, 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 $24.7 billion in annual revenue
HARD-CORNER LOCATION AT SIGNALIZED FOUR-WAY INTERSECTION NEAR INTERSTATE 80
» Located at the intersection of North 1st Street and East Dorset Drive, with excellent visibility and access to 19,200 vehicles per day directly in front of the location
» Immediate access to Interstate 80 (130,200 AADT)
» Across the street from Dixon’s only Walmart Supercenter
» Surrounded by national retail brands such as Panda Express, Grocery Outlet (coming soon), Verizon (coming soon), Wendy’s, Jack in the Box, Papa Murphy’s, Popeye’s, Country Inn & Suites by Radisson, and more
CENTRAL LOCATION NEAR COMMUNITY ATTRACTIONS
» Minutes from U.C. Davis (39,400 students, 24,245 employees, $8.1 billion annual economic impact)
» Within three miles of Dixon High School (1,124 students), Tremont Elementary School (598 students), CA Jacobs Middle School (528 students), and Gretchen Higgins Elementary School (465 students)
2018 CONSTRUCTION
» Upgraded construction featuring a modern, yet rustic architectural theme
» Building has a unique aesthetic that differentiates itself from other Starbucks locations across the United States
» Features dedicated drive-thru, boosting sales revenue and catering to traffic on Interstate 80
Property Description
The property is located at the intersection of North 1st Street and East Dorset Drive, with excellent visibility and access to 19,200 vehicles per day directly in front of the location. The site also benefits from immediate access to Interstate 80, which experiences 130,200 AADT. The location resides in a growing retail corridor and is across the street from Dixon’s only Walmart Supercenter. Other major national retail brands in the surrounding area include Panda Express, Grocery Outlet (coming soon), Verizon (coming soon), Wendy’s, Jack in the Box, Les Schwab Tire Center, Papa Murphy’s, Popeye’s, Tractor Supply Company, Country Inn & Suites by Radisson, and more.
The property benefits from its proximity to the largest employer in Yolo County, U.C. Davis, which has 39,400 students, 24,245 employees, and generates $8.1 billion in annual economic impact. The site is within three miles of surrounding schools such as Dixon High School (1,124 students), Tremont Elementary School (598 students), CA Jacobs Middle School (528 students), and Gretchen Higgins Elementary School (465 students). The property is supported by an affluent customer base, with an average household income of $113,102 within a one-mile radius of the location.
