Starbucks | New 15yr Corp NN w/ Incrs 1207 91st Ave 1,470 SF Retail Building Tolleson, AZ 85353 $3,505,000 ($2,384.35/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- New 15-Year Lease | Corporate Guaranty | 2024 Construction | Options To Extend | Scheduled Increases
- Direct Access Via I-10 (273,000 VPD) | Dense Retail Corridor
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area | Phoenix MSA
EXECUTIVE SUMMARY
• The tenant, Starbucks Corporation, recently signed a new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5-years during the initial term and at the beginning of each option period, hedging against inflation
• The site has 2024 construction with the brands new modern store design
• The lease features 10% rental increases every 5-years during the initial term and at the beginning of each option period, hedging against inflation
• The site has 2024 construction with the brands new modern store design
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
1,470 SF
Building Class
C
Year Built
2024
Price
$3,505,000
Price Per SF
$2,384.35
Cap Rate
5.35%
NOI
$187,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
0.75 AC
Zoning
C-2 - General Commercial
Parking
13 Spaces (8.84 Spaces per 1,000 SF Leased)
Frontage
291’ on North 91st Avenue
AMENITIES
- Freeway Visibility
- Signalized Intersection
- Drive Thru
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the Company is the premier roaster and retailer of specialty coffee in the world. Through their unwavering commitment to excellence and their guiding principles, they bring the unique Starbucks Experience to life for every customer through every cup.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $69,973 | Total Assessment | $69,973 |
