Property History
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Investment Highlights
- RARE NORTHERN CALIFORNIA NET LEASED INVESTMENT OPPORTUNITY | Unique two tenant net leased investment opportunity in coveted West Sonoma County.
- STARBUCKS RELOCATION STORE | Starbucks is strategically relocating their business to the site from their current location 0.2 miles south to take advantage of the visibility, accessibility and the drive thru component.
- NEW NNN LEASES | STAGGERED LEASE TERMS | Starbucks is operating under a new 10-year NNN lease and the AT&T Retailer is operating under a new 5-year NNN lease.
- STRONG INTRINSIC VALUE | DRIVE THRU EQUIPPED BUILDING | The Sebastopol City Council unanimously approved an ordinance prohibiting new commercial drive-thru windows (see page 7 of offering memorandum) which substantially increases the value of the few drive-thru equipped food service buildings in the city.
- HIGH BARRIER TO ENTRY MARKET | FORMULA RETAIL ORDINANCE | The City of Sebastopol has imposed stringent development guidelines on new projects and passed a Formula Retail Ordinance (see page 7 of offering memorandum) prohibiting formula retail businesses from operating within the CD Central Core District. The formula retail ordinance does not apply to the Southpoint Shopping Center in which the Subject Property is located.
- FAVORABLE RETAIL DEMOGRAPHICS | The local trade area boasts favorable retail demographics and above average income levels.
- IDEAL 1031 EXCHANGE REPLACEMENT PROPERTY | The property will be delivered free and clear of existing financing and is leased to one national tenant and one (nationally branded) regional tenant.
- STABLE INCOME GROWTH | FUTURE HEDGE AGAINST INFLATION | Both tenant leases incorporate fixed 10% to 15% rental escalations every five years throughout the base term and option periods providing a future hedge against inflation.
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Contact Information
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Property Details
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Contacts
Listing removed on
BY:
Mike James
•••.•••.2601
mike@•••••••••••••.com
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