Starbucks | 27 John St
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Starbucks 27 John St
1,250 SF Retail Building Salinas, CA 93901 $3,700,000 ($2,960/SF) 5% Cap Rate
Investment Highlights
- 10-year corporate net lease to Starbucks Corporation
- 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 $36 billion in annual revenue
- 10% fixed rental increases every five years, offering projected growth over a long-term investment
- Mobile orders account for 31% of total transactions, a new record high for Starbucks
- High-quality 2024 construction built to latest Starbucks prototype featuring six (6) curbside pickup spaces for additional customer convenience
Executive Summary
This Starbucks has a high-visibility and easily accessible location at the signalized intersection of John Street and Monterey Street (33,369 AADT). The property is centrally located at the confluence of three highly trafficked Salinas thoroughfares, including South Main Street, allowing the site to capture significant commuter traffic (combined 62,669 AADT).
Ideally set in Salinas’ primary active corridor, the property is one mile from Hartnell College (17,000 students) and 10 miles from Cal State University Monterey Bay (7,634 students), establishing a strong collegiate customer base.
The site greatly benefits from its proximity less than two miles from Salinas Valley Memorial Hospital (263 beds, 2,312 employees).
176,659 residents live within a five-mile radius of the site with an average annual household income of $112,694, providing an extremely large and affluent customer base. Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Salinas for steady concurrent growth.
Ideally set in Salinas’ primary active corridor, the property is one mile from Hartnell College (17,000 students) and 10 miles from Cal State University Monterey Bay (7,634 students), establishing a strong collegiate customer base.
The site greatly benefits from its proximity less than two miles from Salinas Valley Memorial Hospital (263 beds, 2,312 employees).
176,659 residents live within a five-mile radius of the site with an average annual household income of $112,694, providing an extremely large and affluent customer base. Projected income increases within 1-, 3-, and 5-mile radii over the next five years poise Starbucks and Salinas for steady concurrent growth.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
1,250 SF
Building Class
B
Year Built
2024
Price
$3,700,000
Price Per SF
$2,960
Cap Rate
5%
NOI
$185,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.38 AC
Opportunity Zone
Yes
Parking
17 Spaces (13.6 Spaces per 1,000 SF Leased)
Walk Score ®
Walker's Paradise (93)
Nearby Major Retailers
1 of 7
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Starbucks | 27 John St
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