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Starbucks Investment Opportunity 583 NE Bellevue Dr 2,614 SF Retail Building Bend, OR 97701 $2,295,000 ($877.96/SF) 4.76% Cap Rate
Investment Highlights
- Corporate-guaranteed Starbucks tenant with an established operating history at this location since 2004
- Long renewal runway with four additional 5-year options that could extend the lease through 2049
- Signalized corner location at a prominent east Bend intersection with traffic counts of ±24,600 AADT
- Scarce drive-through QSR supply on Bend’s east side supports long-term user demand
- Modified NNN lease with limited landlord responsibilities supports passive ownership
- Strong in-place income generating $109,257 in annual net operating income
Executive Summary
This corporate-guaranteed Starbucks investment opportunity is located at 583 NE Bellevue Dr in Bend, Oregon, at the signalized intersection of Highway 20 and NE 27th Street. Starbucks has operated at this location since 2004. The property includes a 2,614 SF freestanding drive-through building on 0.59 acres, with 19 parking spaces and General Commercial (CG) zoning. Built in 1997, the property is leased to Starbucks Corporation under a modified NNN lease with limited landlord responsibilities. The current lease term runs through May 31, 2029, with four additional five-year renewal options that could extend occupancy through May 31, 2049.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,614 SF
Building Class
C
Year Built
1997
Price
$2,295,000
Price Per SF
$877.96
Cap Rate
4.76%
NOI
$109,257
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.59 AC
Zoning
CG - General Commercial
Parking
19 Spaces (7.27 Spaces per 1,000 SF Leased)
Frontage
227’ on NE 27th Street
Amenities
- Signage
- Drive Thru
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 189839 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,075,490 |
Property Taxes
Parcel Number
189839
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,075,490
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