Brand New Starbucks | Mendocino County | 788 S Main St
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Brand New Starbucks | Mendocino County 788 S Main St
2,773 SF Retail Building Willits, CA 95490 $3,177,570 ($1,146/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- PRIME PASSIVE INVESTMENT OPPORTUNITY: Limited landlord responsibilities, tenant oversees all property management directly
- NEWLY RENOVATED BUILDING: Extensive renovations specifically suited for a Starbucks Drive-Thru, the only one in Willits
- HIGHLY VISIBLE CORNER LOCATION: Well-positioned at the busy, signalized intersection of the two most traveled streets in the area
- BRAND NEW 10 YEAR LEASE: Long term lease featuring regular 10% rent increases every 5 years, with no kick-out clause
- INVESTMENT GRADE TENANT: Strong corporate guarantee from the largest coffee company in the world
- DESIRABLE CALIFORNIA REAL ESTATE: Willits is a popular tourist destination, known as “The Heart of Mendocino County” and “The Gateway to the Redwoods"
EXECUTIVE SUMMARY
This passive net-leased investment opportunity offers a qualified buyer the chance to purchase a brand-new Starbucks drive-thru location in Mendocino County, CA, featuring a new 10-year lease with minimal landlord obligations, guaranteed by an investment grade tenant.
STARBUCKS
Starbucks is an American based multinational chain of coffeehouses and roaster reserves. Famously based in Seattle’s Pike Place Market and founded in 1971, the corporate coffee roaster now comprises more than 36,000 retail locations in over 80 global markets. The company was incorporated in 1985 to become the publicly traded Starbucks Corporation. Today, Starbucks is the largest coffeehouse company in the world.
WILLITS, CA - GATEWAY TO THE REDWOODS
Located in Northern California along the vital Highway 101 corridor, Willits is a vibrant small town known as the “Gateway to the Redwoods.” It offers a unique blend of natural beauty and small-town charm. Surrounded by majestic redwood forests, Willits attracts both tourists and residents with its outdoor recreational opportunities, including hiking, camping, and fishing.
STARBUCKS
Starbucks is an American based multinational chain of coffeehouses and roaster reserves. Famously based in Seattle’s Pike Place Market and founded in 1971, the corporate coffee roaster now comprises more than 36,000 retail locations in over 80 global markets. The company was incorporated in 1985 to become the publicly traded Starbucks Corporation. Today, Starbucks is the largest coffeehouse company in the world.
WILLITS, CA - GATEWAY TO THE REDWOODS
Located in Northern California along the vital Highway 101 corridor, Willits is a vibrant small town known as the “Gateway to the Redwoods.” It offers a unique blend of natural beauty and small-town charm. Surrounded by majestic redwood forests, Willits attracts both tourists and residents with its outdoor recreational opportunities, including hiking, camping, and fishing.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
2,773 SF
Building Class
C
Year Built
2002
Price
$3,177,570
Price Per SF
$1,146
Cap Rate
5.35%
NOI
$170,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.46 AC
Zoning
C2
Parking
19 Spaces (6.85 Spaces per 1,000 SF Leased)
Frontage
159 FT on S Main St
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Starbucks
- Retailer
- 2,773 SF
- -
- Triple Net
- Feb 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Starbucks | Retailer | 2,773 SF | - | Triple Net | Feb 2034 |
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 006-131-37-00 | Improvements Assessment | $1,080,935 |
| Land Assessment | $631,493 | Total Assessment | $1,712,428 |
PROPERTY TAXES
Parcel Number
006-131-37-00
Land Assessment
$631,493
Improvements Assessment
$1,080,935
Total Assessment
$1,712,428
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Brand New Starbucks | Mendocino County | 788 S Main St
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