Starbucks Drive-Thru

110 Ward Ave, Patterson, CA

$3,055,000

Price

4.9%

Cap Rate

$136,000

NOI

Overview
Cap Rate
4.9%
NOI
$136,000
Building Size
2,439 sqft
Lot Area
0.62 acres
Year Built
2019
Tenancy
Single
Lease Expire Year
07/31/2029
Description

Brand New Single-Tenant Starbucks Drive-Thru:
- Corporate guaranteed lease (NASDAQ: SBUX; S&P: BBB+); approximately 30,000 stores in 78 countries

- New 10-year lease with 10% increases every 5 years

- 2019 construction; scheduled to open on or before August 1, 2019





Located in the Heart of Patterson: Less than 1-mile from multiple schools, Hammon Senior Center, a brand-new Walmart Supercenter shopping center (the largest retail development in the city), and all major residential developments





High Growth Location:

- 80% population growth since 2000 within a 1-mile radius of the property; 20% population growth projected in the next 5 years

- 33.5% job growth projected over the next 10 years





Planned New Development: Zacharias Master Plan/Northwest Annexation will add 5,500 residential units, 7 million square feet of industrial space, hundreds of jobs and 15,000 residents to the city





Logistical and Distribution Center Hub: Two miles from the Amazon (750 employees), CVS Caremark (490 employees), WW. Grainger (260 employees), Restoration Hardware (250 employees), Walmart Supercenter (220 employees), and Kohls (150 employees)





Excellent Northern California Location: Ideally accessible from three of California’s major north-south highways - Interstate 5 and Highways 33 and 99

Documents
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Location
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