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23016494
31822126

935 Kendall Dr, San Bernardino, CA 92407

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
JL
CA 01942025, NE 20191334
Hanley Investment Group
Listed by Hanley Investment Group
$3,685,000
72 days on market
Updated 14 days ago

Starbucks | Shandin Hills, CA

Details
APN 266-521-12-0000
Property Type Retail
Sub Type Restaurant
Square Footage 1,872
Net Rentable (SqFt) 1,872
Cap Rate 5.40%
NOI $199,000
Tenancy Single
Brand/Tenant Starbucks
Lease Term 10
Lease Expiration 08/01/2035
Remaining Term 9.1
Rent Bumps Yes
Lease Options Four 5-Year @ 10% Increases
Broker Co-Op Yes
Year Built 2025
Acreage 0.430
Lease Commencement 08/01/2025
Ground Lease No

New 10-Year Lease | Frontage Along Kendall Drive (23,500 CPD) | 270,000+ People Within 5-Miles

Marketing description

CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/Starbucks_shandilhills

Investment highlights

  • New Construction Single-Tenant Corporate (NASDAQ: SBUX; S&P: BBB+) Starbucks Drive-Thru Pad to Stater Bros Market:

    • New 10-year lease; 10% rental increases every 5 years during the primary term and each of the four 5-year options

    • 1,872 square foot building with double drive-thru

    • One of the “World’s Most Admired Companies” by Fortune (2009-2024)

    • Largest coffeehouse chain globally with approximately 40,000+ stores in 84 countries

  • Outparcel to Stater Bros Market Anchored Shopping Center (1.6 Million Annual Visits to the Shopping Center, Placer.ai): Surrounding tenants include 7-Eleven (top 3% in California, Placer.ai), Chase Bank (top 15% nationwide, Placer.ai), AutoZone, Pizza Hut, UPS, and O’Reilly Auto Parts

  • Favorable Drive-Thru Format: Approximately 60%-70% of all business for quick service restaurants come through a drive-thru and average Starbucks store sales are approximately 50% greater in locations that have a drive-thru

  • Excellent Accessibility and Visibility:

    • The shopping center is accessible from two signalized intersections along Kendall Drive; there are over 32,500 cars per day at the intersection of Kendall Drive and Shandin Hills Drive (W. 40th Street)

    • The property benefits from two points of ingress/egress from Kendall Drive and four more points of ingress/egress from Shandin Hills Circle and Shandin Hills Drive

  • Located Two Miles from California State University, San Bernardino (20,000+ Students, 2,000+ Faculty)

  • Dense, High-Growth Inland Empire Demographics: More than 270,000 people within a 5-mile radius

  • San Bernardino is Part of the Inland Empire, One of the Fastest Growing Regions in the Nation: Over the last thirty years, the Inland Empire has grown by 78%, more than twice as fast as the rest of California during that same time period

Listing Contacts

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
JL
CA 01942025, NE 20191334
Hanley Investment Group
Listed by Hanley Investment Group

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$199,000.00
$16,583.33/mo

Valuation Metrics

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DSCR
5.4%
Cap Rate
5.4%
ROI

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