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- LoopNet Team
1303 University Ave
Riverside, CA 92507
Starbucks - Riverside · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Starbucks: Industry leading tenant publicly traded global company with 31,000+/-locations and an S&P Rating of BBB+
- State of the Art Drive-Thru Location: Freestanding corner pad location at a signalized intersection with drive-thru significantly increases daily sale
- Located Near UC Riverside
- Absolute NNN Lease: Zero landlord responsibilities whatsoever make this a prime acquisition for the passive investor
- Strong Rent Increases: 10% increases every 5 years through the initial term with above market increases during each option as well
- Recently Executed Long-term Ground Lease: 20 year lease with 3 (10-Year) options provide security through potentially 5 decades
PROPERTY FACTS
ABOUT 1303 UNIVERSITY AVE , RIVERSIDE, CA 92507
The property boasts the best location in the trade area, adjacent to the University of California Riverside Extension (and mere blocks away from the main campus), at the busy intersection of University Avenue and Iowa Avenue (33,963 combined VPD), with easy access to and from Interstate 215 (180,000 VPD), one of the main freeway running through Riverside. Starbucks’ prime location at the corner of a signalized intersection near both a freeway and college campus show the true intrinsic real estate value. Additionally, it serves an area of over 100,000 permanent residents with average household incomes of nearly $75,000 within 3 miles.
PROPERTY TAXES
| Parcel Number | 250-190-040 | Improvements Assessment | $3,463,782 |
| Land Assessment | $1,190,674 | Total Assessment | $4,654,456 |
PROPERTY TAXES
