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New Starbucks | 83rd Percentile Ranking 1204 Whitley Ave 2,000 SF Retail Building Corcoran, CA 93212 $3,063,000 ($1,531.50/SF) 5.50% Cap Rate
Investment Highlights
- Corporate Lease | Investment Grade Tenant | S&P BBB+
- Located on a Hard Corner Along the City’s Main Commercial Corridor
- Limited Competition | Only Starbucks in Town | Nearest Starbucks 20 Miles Away
- This Store Ranks in the Top 83% of All U.S. Starbucks Locations with $3.5M in Credit Card Sales per CenterCheck
- Fee-Simple Ownership Allows for Tax Beneficial Depreciation of the Property
- Build-to-Suit Prototype Building with Inside Seating, Patio and Drive-Thru
Executive Summary
Commercial Retail Associates, Inc. is pleased to be selected as the exclusive listing agent for the sale of this 2024 constructed build-to-suit ±2,000 square foot free-standing cafe prototype building with drive-thru and indoor and outdoor seating leased to the Starbucks Corporation. The property fronts Whitley Avenue, a commercial arterial that runs east to west through the city of Corcoran. Neighboring commercial business within close proximity to the subject property are McDonald’s, Taco Bell, Subway, Dollar Tree, Dollar General, Family Dollar, AutoZone, O’Reilly Auto Parts, BMO Bank, Cost Less Foods Grocery and United Health Centers. This offering presents an investor with an opportunity to acquire an attractive pride-of-ownership, newly constructed commercial property that is leased to an investment-grade corporate tenant, with a long-term lease commitment to the subject site.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,000 SF
Building Class
B
Year Built
2023
Price
$3,063,000
Price Per SF
$1,531.50
Cap Rate
5.50%
NOI
$168,465
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.41 AC
Opportunity Zone
Yes
Frontage
158’ on Whitley Avenue
Amenities
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 030-211-018-000 | Improvements Assessment | $652,662 |
| Land Assessment | $442,170 | Total Assessment | $1,094,832 |
Property Taxes
Parcel Number
030-211-018-000
Land Assessment
$442,170
Improvements Assessment
$652,662
Total Assessment
$1,094,832
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New Starbucks | 83rd Percentile Ranking | 1204 Whitley Ave