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Starbucks & Vacant Drive-Thru QSR Pad 69060 Vista Chino 5,237 SF Retail Building Cathedral City, CA 92234 $3,973,000 ($758.64/SF) 4.19% Cap Rate
Investment Highlights
- Brand New 10-Year Starbucks Lease | Corporate Guaranty | Investment Grade Tenant S&P: BBB+ | NASDAQ: SBUX | Café & Drive-Thru
- 61,000 VPD Intersection | Directly off I-10 Off Ramp (106,000 VPD) | Pylon Sign Visible from Freeway
- First Rest Stop in Coachella Valley | Gateway to Cathedral City
- Vacant Drive-Thru Equipped QSR Building | $396 Per Square Foot
- Affluent and Dense Demographics | Coachella Valley
Executive Summary
• 10-year lease with 10% rental increases every 5 years
• Corporate Guaranty Starbucks Corp., an Investment Grade Tenant
(NASDAQ: SBUX | S&P: BBB+)
• Largest coffeehouse chain globally with +/-40,990 stores in 87 countries
• NN Lease – Starbucks pays for CAM, taxes, insurance and maintains most aspects of the premises. Landlord responsibilities limited to roof, structure, building systems, and CAM (CAM expenses reimbursed by tenant)
• Ideal, low-management investment for a passive investor
• Corporate Guaranty Starbucks Corp., an Investment Grade Tenant
(NASDAQ: SBUX | S&P: BBB+)
• Largest coffeehouse chain globally with +/-40,990 stores in 87 countries
• NN Lease – Starbucks pays for CAM, taxes, insurance and maintains most aspects of the premises. Landlord responsibilities limited to roof, structure, building systems, and CAM (CAM expenses reimbursed by tenant)
• Ideal, low-management investment for a passive investor
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,237 SF
Building Class
B
Year Built
2016
Price
$3,973,000
Price Per SF
$758.64
Cap Rate
4.19%
NOI
$166,571
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.55 AC
Zoning
PCC - Planned Community Commercial
Parking
54 Spaces (10.31 Spaces per 1,000 SF Leased)
Frontage
101’ on Vista Chino
Amenities
- Signalized Intersection
- Drive Thru
- Monument Signage
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 670-030-033 | Improvements Assessment | $2,712,259 |
| Land Assessment | $584,921 | Total Assessment | $3,297,180 |
Property Taxes
Parcel Number
670-030-033
Land Assessment
$584,921
Improvements Assessment
$2,712,259
Total Assessment
$3,297,180
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Starbucks & Vacant Drive-Thru QSR Pad | 69060 Vista Chino
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