Investment Summary
Price | $2,465,000 |
Cap Rate | |
NOI | |
Lease Term | 10 Years |
Lease Type | Net, with Tenant Responsible for Taxes, Insurance, and Maintenance, Excluding Roof, Structure, and Parking Lot |
Rental Increases | 10% Rental Increases Every Five (5) Years |
Year Built | Q4 2018 |
Building Size | 2,200 SF |
Lot Size | 0.33 Acres (14,287 SF) |
Status | Sold |
Lead Brokers | Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
HIGH-QUALITY, INVESTMENT GRADE SINGLE-TENANT ASSET
» Leased to Starbucks Corporation for ten years plus four five-year options
» Scheduled rental increases every five years in initial term and option periods
» Starbucks is an investment grade tenant, rated “BBB+” by Standard & Poor’s
HIGH-TRAFFIC LOCATION WITH FREEWAY VISIBILITY ALONG MAJOR COMMUTER CORRIDOR
» Strategically located immediately off of Highway 99—the busy freeway connecting Galt to both Sacramento and Stockton—with excellent visibility and access to 80,300 vehicles per day on Highway 99
» Access and visibility to an additional 13,050 vehicles per day on Twin Cities Road, which provides access to another major transportation corridor: nearby Interstate 5
» Located in the high-growth northeast area of Galt, the property offers a regional draw within southern Sacramento County and northern San Joaquin County and is perfectly located to capture commuter traffic between Stockton and Sacramento along Highway 99
» 90-foot pylon sign with direct visibility from the freeway in both directions
PROMINENT LOCATION IN DENSE RETAIL AREA
» Directly adjacent to Galt Village, a 17-acre shopping center anchored by Raley’s and featuring national retailers like O’Reilly Auto Parts, Verizon, KFC, and Comfort Inn & Suites
» Next to new ARCO gas station and convenience store
» Other notable retailers in the surrounding area include a new Walmart Supercenter, along with well-known brands like McDonald’s, Tractor Supply, Rite Aid, Anytime Fitness, and Jiffy Lube
STRONG LOCAL CUSTOMER BASE WITH ROBUST DEMOGRAPHICS
» Surrounded by schools, notable employers, and growing residential neighborhoods
» High average household incomes exceeding $80,000 within one-, three-, and five-mile radii
Property Description
SOLD
The property is strategically located immediately off of Highway 99—the busy freeway connecting Galt to both Sacramento and Stockton—with excellent visibility and access to 80,300 vehicles per day on Highway 99 and 13,050 vehicles per day on Twin Cities Road, which provides access to another major transportation corridor: nearby Interstate 5. The property is directly adjacent to Galt Village, a 17-acre shopping center anchored by Raley’s and featuring national retailers like O’Reilly Auto Parts, Verizon, KFC, and Comfort Inn & Suites. Other notable retailers in the surrounding area include a new Walmart Supercenter, along with well-known brands like McDonald’s, Tractor Supply, Rite Aid, Anytime Fitness, and Jiffy Lube.
Located in the high-growth northeast area of Galt, the property offers a regional draw within southern Sacramento County and northern San Joaquin County and is perfectly located to capture commuter traffic between Stockton and Sacramento along Highway 99. Additionally, the property is surrounded by schools, notable employers, and growing residential neighborhoods, providing a strong customer base for Starbucks.