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Starbucks, Sacramento, CA

Starbucks, Sacramento, CA


Investment Summary

Price $2,632,000
Cap Rate 4.75%
NOI $125,000
Lease Term 10 years
Lease Type Net, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2023
Building Size 2,270 SF
Lot Size 0.92 acres (39,940 SF)
Status Available
Lead Brokers Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR CORPORATE NET LEASE TO INVESTMENT GRADE TENANT
» New 10-year corporate net lease to Starbucks Corporation
» 10% fixed rental increases every five years
» Investment-grade tenant, rated “BBB+” by Standard & Poor’s
» Starbucks Corporation (NASDAQ: “SBUX”) is the world’s premier coffee company, with over 38,038 locations and $35.97B in annual revenue (11% increase from 2022 revenue of $32.25B)

HIGH-TRAFFIC INFILL LOCATION WITH STRONG CUSTOMER BASE
» High-visibility and easily accessible location just off the signalized four-way intersection of Kiefer Boulevard and Bradshaw Road with access to a combined 45,099 vehicles per day
» Immediate access to U.S. Route 50 / El Dorado Freeway (163,000 AADT)
» Shared lot with convenience store ampm, providing increased traffic in the area
» Across from Sacramento Municipal Utility District East Campus Operation Center (750 employees)
» 198,842 residents live within five miles of the site, establishing a large and stable customer base for the site
» Average household income of $110,505 within five miles of the location and projected to increase 15% over the next five years

CENTRAL LOCATION NEAR SCHOOLS, LARGE EMPLOYERS, AND COMMUNITY HUBS
» Immediately surrounded by residential communities such as Aspen Village, Woodbridge East, Millrose, and Bradshaw Woods, providing a reliable customer base for this Starbucks
» Convenient location near many schools including Rosemont High School (1,490 students), Albert Einstein Middle School (659 students), and James W. Marshall Elementary School (388 students)
» Located 12 minutes from Sacramento State University (30,611 students; 3,318 employees)
» Within three miles from Sacramento Mather Airport and Sacramento VA Medical Center (81 beds)
» Less than 11 miles from Downtown Sacramento (15.3 million annual visitors) with access to many State of California offices, the largest employer in the area

NEW 2023 HIGH-QUALITY CONSTRUCTION
» New high-quality 2023 construction built to latest Starbucks prototype
» Site features dedicated drive-thru, providing additional customer convenience and boosting sales revenue

Property Description

» High-Visibility Location: This Starbucks is prominently positioned at the southwest corner of the Kiefer Boulevard and Bradshaw Boulevard signalized intersection (combined 45,099 AADT)
» Infill Location: The location is an infill location that shares the lot with convenience store ampm and Arco gas station, providing increased traffic in the area
» Reliable Customer Base: The site greatly benefits from its close proximity to residential neighborhoods such as Aspen Village, Woodbridge East, Millrose, and Bradshaw Woods
» Beneficial Proximity to Schools: Rosemont High School, Albert Einstein Middle School, and James W. Marshall Elementary School are located minutes from the property, providing consistent traffic from the combined 2,500+ students and families from these schools
» Beneficial Proximity to Community Hubs: Sacramento Mather Airport and Sacramento VA Medical Center are located within three miles from the property, serving as another source of consistent traffic
» Excellent Demographics: Nearly 200,000 residents live within a five-mile radius of the subject property, supported by an average annual household income of $110,505
» Set in a Major MSA: Less than 11 miles from Downtown Sacramento (15.3 million annual visitors) with access to many State of California offices, the largest employer in the area

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