New Double D/T Starbucks-Near Chico State U 1030 Mangrove Ave

Faris Lee Investments is pleased to present the opportunity to acquire fee simple interest (land & building) in a brand new double drive-thru, freestanding Starbucks property located at 1030 Mangrove Ave, Chico, CA. This Starbucks is the closest drive thru to Chico State University with over 17,000 students. This newly constructed, prototypical drive-thru Starbucks offers an exceptional investment opportunity with an offering price of $3,570,000. This property promises a stable and growing income stream, underpinned by a best-in-class tenant.
Starbucks Corporation, the world’s most valuable restaurant brand, anchors this investment. As a publicly traded company on Nasdaq (SBUX) with a market capitalization of over $85 billion as of August 2024, Starbucks reported fiscal 2023 revenues exceeding $35 billion and an annual comparable sales growth of 11.55% year-over-year from September 2022 to September 2023. With over 17,000 locations in the United States and more than 36,000 worldwide, Starbucks continues to expand aggressively, solidifying its position as the largest coffee retailer globally. The corporate-backed lease does not grant Starbucks the right to terminate early, providing additional security and stability for investors. This brand-new Starbucks property is an ideal investment for passive investors seeking a drive-thru quick-service restaurant property with a premier, investment-grade tenant (BBB+).
This site is the closest Starbucks drive thru to Chico State University with over 14,000 students and 1,800 faculty/staff, providing a steady customer base. The subject property is on Mangrove Ave (20,000 VPD) which directly services the residents and the primary trade area of Chico, CA. This location benefits from the synergy created by the national retailers surrounding the site, including Safeway, Rite Aid, Big 5 Sporting Goods, Chipotle, McDonald’s, and Popeyes. The property’s proximity to major roads like 1st Avenue (23,000 VPD) and Hwy 99 (80,000 VPD) further enhances its accessibility and attractiveness, making it an outstanding investment opportunity for those seeking secure, long-term returns.