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Starbucks, Weed, CA

Starbucks

CA, USA

Price $2,421,000
Cap Rate
NOI $115,000
Lease Term 10 Years
Lease Type Net, with Tenant Responsible for Taxes, Insurance, Utilities, and Maintenance, Excluding Roof and Structure
Rental Increases 10% rental increases every 5 years
Year Built 2017
Building Size 2,000 SF
Lot Size 1.01 Acres (44,207 SF)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
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

Investment Highlights

HIGH-QUALITY, INVESTMENT GRADE, SINGLE-TENANT ASSET
» Leased to and guaranteed by Starbucks Corporation, rated “A” by S&P and “A2” by Moody’s
» Long-term lease with no early termination right
» 10% fixed rent increases every five years in initial term and extension terms, providing a hedge against inflation
» Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, with over 25,000 locations worldwide and $21.3 billion in annual revenue
» Large trade area with nearest Starbucks locations 30 miles north (Yreka) and 70 miles south (Redding)

FREEWAY-ADJACENT LOCATION CATERING TO TOURIST TRAFFIC
» Immediate access to Interstate 5, which experiences a high traffic count of 24,900 vehicles per day near the property
» Interstate 5 is the primary route through the region and serves as a major transportation corridor for both commuters and tourists
» Notable tenants near the property include McDonald’s, Chevron, Shell, Burger King, Taco Bell, Comfort Inn, Pilot Travel Center, and Grocery Outlet, among others
» Close proximity to Mount Shasta, a major draw for tourist traffic in the region, which experiences over 26,000 visitors annually

NEW 2017 CONSTRUCTION
» 2017 construction with drive-thru, providing additional customer convenience and boosting sales revenue
» Features latest Starbucks store design and concepts
» New building, limiting near term deference maintenance or capital costs
» Freeway monument signage to 24,000 vehicles daily


Property Description

SOLD

The property is conveniently located on Shastina Drive, with immediate access to Interstate 5. Interstate 5 is the primary route through the region and serves as a major transportation corridor for both commuters and tourists. As a result, Interstate 5 experiences a high traffic count of 24,900 vehicles per day near the property. Located in Weed’s primary retail area, the property is surrounded by complementary tenants and major national retailers, several of which also cater to tourist traffic. Notable tenants near the property include McDonald’s, Chevron, Shell, Burger King, Taco Bell, Comfort Inn, Pilot Travel Center, and Grocery Outlet, among others. The property is also close to several sites that are slated for future retail development.

The property is a short drive from Mount Shasta, a major regional landmark and a popular destination for tourists and outdoor enthusiasts. Mount Shasta is surrounded by Shasta–Trinity National Forest, which supports around 1,470 jobs and generates $64,300,000 of annual labor income in local communities. The property is also close to Crystal Geyser’s bottling plant, which serves as a major employer in the region.

Contact Us About This Property

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