100% Leased Starbucks Drive-Thru Strip Center

Highlights:

• Dominant Highway Retail Asset Anchored by Starbucks The subject property is anchored by Starbucks, one of the most creditworthy and recognizable retail tenants in the world, driving consistent daily traffic and serving as a long-term catalyst for tenant synergy and customer draw. Starbucks operates under a long-term lease through February 2031.
• 100% Occupied with Stabilized, In-Place Cash Flow The center is fully leased to a diverse roster of tenants, providing immediate, stable income with in-place NOI of approximately $171,878 and strong visibility into future income growth.
• NNN Lease Structures Minimizing Landlord Responsibilities All tenants operate under NNN or similar structures, allowing ownership to pass through the majority of operating expenses, including CAM, taxes, and utilities.
• Built-In Rental Growth Across Tenant Roster Existing leases feature annual rent escalations ranging from approximately 2.0% to 2.5%, providing steady organic NOI growth and an effective hedge against inflation.
• Diversified, Internet-Resistant Tenant Mix The subject property features a complementary mix of daily-needs and service-oriented tenants—including coffee, food, telecom, and personal services—which are inherently resistant to e-commerce pressures and drive consistent in-person visitation.
• Strategic Position Along Bishop’s Primary Retail Corridor Located on North Main Street (U.S. Highway 395), the property benefits from prime frontage along Bishop’s main commercial thoroughfare, capturing consistent local traffic as well as significant regional and tourist pass-through volume.
• Gateway Location to Major Eastern Sierra Destinations Bishop serves as a key gateway to Mammoth Lakes, Yosemite National Park, and the broader Eastern Sierra recreation corridor, drawing year-round tourism traffic that supports strong retail demand and tenant performance.
• Dual Demand Drivers: Stable Local Base + Seasonal Tourism The subject property benefits from a reliable local customer base complemented by strong seasonal visitation driven by recreation, hospitality, and regional travel, creating a diversified and resilient income stream.

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