Listed by Diversified Partners
$3,140,000
Starbucks | NEC Ellsworth Rd & Elliot Rd
Details
APN 304-12-987
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,400
Cap Rate 5.25%
NOI $165,000
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type NN
Lease Term 10
Lease Expiration 09/29/2036
Rent Bumps Yes
Lease Options Four (4) - Five (5) Year Options
Year Built 2026
Buildings 1
Acreage 0.840
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 08/31/2026
Ground Lease Yes
Ownership Fee Simple
3543 S Ellsworth Road, Mesa, AZ 85212
Investment highlights
- NEW CONSTRUCTION STARBUCKS | NN INVESTMENT - Newly constructed ±2,400 SF building on ±0.84 acres with rent commencing September 1, 2026.
- STRONG PASSIVE INCOME | 5.25% CAP - Offered at $3,140,000 with $165,000 NOI, providing predictable cash flow from a nationally recognized tenant.
- INVESTMENT GRADE TENANT (NASDAQ: SBUX) - Lease guaranteed by Starbucks Corporation, the world's largest coffeehouse chain with more than 40,000 locations worldwide and approximately $36.2B in annual revenue.
- LIMITED LANDLORD RESPONSIBILITIES - Double net lease structure with landlord responsible only for roof and structure.
- PREMIER EAST VALLEY LOCATION | MAJOR EMPLOYMENT CORRIDOR - Positioned along the Elliot Tech Corridor near Apple, Google, EdgeCore, Niagara Bottling, and Dignity Health.
- HIGH GROWTH TRADE AREA | STRONG ACCESS & DEMAND DRIVERS - Adjacent to Eastmark (≈15,000 homes at buildout) with immediate access to Loop 202, SR-24, US-60, Phoenix-Mesa Gateway Airport, and near Legacy Sports Park.
- LESSEE OPERATING EXPENSES: Tenant shall pay 100% of its Pro Rata Share of Common Area Operating Expenses, Landlord’s Insurance, and Real Property Taxes as additional rent beginning on the Rent Commencement Date. Operating Expenses include reasonable costs associated with maintaining and operating the shopping center’s common areas such as parking, landscaping, and sidewalks. Landlord will provide annual estimates and Tenant will pay monthly estimated amounts subject to annual reconciliation. During the first full calendar year, expenses are capped at $4.00/SF for Operating Expenses, $1.00/SF for Insurance, and $8.50/SF for Real Property Taxes, with Operating Expense increases thereafter limited to 105% of the prior year, excluding certain costs.
- PROPERTY TAX EXPENSE: Tenant shall pay its Pro Rata Share of Real Property Taxes as additional rent beginning on the Rent Commencement Date. Real Property Taxes include general real estate taxes and assessments on the property, excluding income based taxes, transfer taxes, and taxes related to other portions of the shopping center. Landlord will pay taxes when due and provide copies of tax bills and calculations of Tenant’s share. Tenant shall pay its share as taxes become due during the term, prorated for partial periods, and may challenge assessments at its own expense while receiving its share of any resulting refunds
- PROPERTY INSURANCE: Tenant shall maintain insurance throughout the lease term with a carrier rated at least A- VII by A.M. Best. Coverage includes commercial general liability insurance naming Landlord as an additional insured with limits of $5,000,000 per occurrence and $5,000,000 aggregate, including liquor liability if alcohol is sold, and property insurance covering Tenant’s fixtures, equipment, and inventory on a replacement cost basis. Proof of coverage must be provided upon request, and any proceeds related to Tenant’s property belong solely to Tenant.
- MAINTENANCE & REPAIRS: Tenant is responsible, at its expense, for maintaining and repairing the Premises, including plumbing, HVAC, electrical and lighting systems serving the Premises, and the storefront, doors, and glass. Tenant is not responsible for structural repairs or issues caused by Landlord’s negligence or failure to perform obligations. Landlord is responsible for maintaining and repairing the roof, foundation, exterior and structural components, common areas, parking areas, landscaping, drainage, and building systems serving the shopping center as a whole, with costs potentially allocated among tenants as provided in the lease. Landlord must complete required repairs promptly after notice, and if Landlord fails to do so within the required timeframe, Tenant may complete the repairs and offset the cost against rent.
Listing Contacts
Listed by Diversified Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$165,000.00
$13,750.00/mo
Valuation Metrics
0
DSCR
5.25%
Cap Rate
5.25%
ROI
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