Listed by Diversified Partners
$2,895,000
Starbucks | 3502 W Glendale Ave
Details
APN 151-20-001D
Property Type Retail
Sub Type Storefront
Square Footage 1,700
Cap Rate 5.20%
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Lease Expiration 04/28/2031
Remaining Term 5
Lease Options Four (4) 5-year
Pro-Forma NOI $150,500
Year Built 2021
Acreage 0.520
Investment Type Net Lease
Lease Commencement 03/30/2021
Ground Lease No
Ownership Fee simple
Starbucks | 3502 W. Glendale Ave
Marketing description
For Sale
Investment highlights
- Investment-grade tenant | world’s largest coffeehouse chain: Lease guaranteed by Starbucks corporation (Nasdaq: SBUX), the global leader in specialty coffee with 40,000+ locations across 80+ countries. Backed by approximately $36.2 billion in annual revenue and over 361,000 employees, Starbucks represents a dominant brand and a premier net-leased investment Opportunity.
- Long-term tenancy with renewal upside: Current lease provides 5 years of remaining term and four (4) additional 5-year options, producing $150,500 in annual base rent with future rental growth potential. Starbucks’ long-term occupancy delivers stable, predictable cash flow.
- Passive NN lease | minimal landlord responsibilities: Double net (NN) structure with the landlord responsible only for structural components, offering a truly passive investment.
- High-traffic intersection in dense infill Trade area: Positioned at a signalized intersection serving two major shopping centers that draw over 1.5 million annual visitors. Surrounded by a dense population exceeding 526,000 residents within five miles, with nearby employment centers and schools supporting all-day demand.
- Proximity to major destinations: Conveniently located one mile west of i-17 and two miles north of Grand Canyon university (25,000+ students), further driving consistent daily traffic to the site.
- Strong location with national Co-tenancy: Situated within a busy neighborhood shopping center anchored by food city (#3 in phoenix), dollar tree, five below, and Wells Fargo, ensuring steady daily Traffic and a strong retail draw.
- Land Area: ±22,651 SF (±0.52 Acres)
- Cross Streets: Glendale Ave & 35th Ave
Listing Contacts
Listed by Diversified Partners
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