Listed by Hanley Investment Group
$2,437,000
Starbucks | Garden Grove, CA
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,500
Net Rentable (SqFt) 1,500
Cap Rate 4.00%
NOI $97,500
Tenancy Single
Brand/Tenant Starbucks
Rent Bumps Yes
Year Built 2007
Acreage 0.330
Ground Lease No
Top 4% Performing Store Nationally for Starbucks | Drive-Thru Freeway Off-Ramp Location
Marketing description
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Investment highlights
- Proven, Top-Ranked Location: 20-year track record of success at the location, which ranks in the top 4% of Starbucks locations nationally, per Placer.ai
- Approximately 1.5 years of lease term remaining; 10% rent increase on 10/1/2027, increasing to a 4.40% cap
- Four 5-year options remaining with 10% increases
- Absolute NNN Lease with no landlord responsibilities
- Phenomenal Freeway Off-Ramp Location: Signalized Intersection of Garden Grove Boulevard and Fairview Street with 71,500 CPD; Garden Grove Boulevard off-ramp of the CA-22 freeway with average daily traffic volumes exceeding 235,000 CPD along CA-22
- Located on the “Going to Work” side of Garden Grove Boulevard: With Ingress/Egress on both Garden Grove Boulevard and Fairview Street, capturing customers headed to work on CA-22 Freeway
- Ideal Drive-Thru Café Format Location: With a 1,500-square-foot café and drive-thru; approximately 60-70% of all business for quick service restaurants comes through the drive-thru, and average Starbucks store sales are approximately 50% greater in locations that have a drive-thru
- Dense Affluent Orange County Demographic: 1-mile population exceeds 33K people with average household incomes exceeding $110K
Listing Contacts
Listed by Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$97,500.00
$8,125.00/mo
Valuation Metrics
0
DSCR
4%
Cap Rate
4%
ROI
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