About This Restaurant
Investment Highlights
Single-Tenant Corporate (NASDAQ: SBUX; S&P: BBB+) Starbucks Drive-Thru & Cafe: New 10-year Lease; 10% increases every 5 years Favorable Drive-Thru & Cafe Format: Approximately 60%-70% of all business for quick service restaurants come through a drive-thru Corcoran is Home to J.G. Boswell Company; One of the Largest Irrigated Farming Operations in the World Extremely Limited Competition: Next closest Starbucks location is over 15 miles away and this is the only Starbucks location in the City of Corcoran Ideally Situated Along Whitley Avenue, Corcoran?s Major Commercial and Retail Corridor California High-Speed Rail Runs Through Corcoran: The $100 Billion project will connect Merced to Bakersfield (330,000 jobs)
Executive Summary
New 10-Year Lease | No Early Termination | Only Starbucks in a 15-Mile Radius
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Fast Food
- Building Size 2,000
- Building Class B
- Year Built 2023
- Price 3,270,000
- Price Per SF 1,635
- Cap Rate 5.15
- NOI 168,443
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 0.41 AC
- Opportunity Zone Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Taxes
| Parcel Number | 030-211-018-000 | Improvements Assessment | $142,173 |
| Land Assessment | $0 | Total Assessment | $142,173 |
| Date Created: | 2024-07-16 04:09:22 | Last Updated: | 2024-07-16 04:09:22 |
| Address: | 1204 Whitley Ave , Corcoran, California, 93212 | ||