Chula Vista (San Diego), CA - Starbucks

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Starbucks investment property located in Chula Vista, California. The tenant, Starbucks recently signed a brand new, 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Starbucks is accessed from the signalized, hard corner intersection of Main Street and Maxwell Road which combine to average more than 38,700 vehicles passing by daily. Additionally, the asset is located less than a mile from Interstate 805, which sees over 262,000 vehicles per day. The subject property is a part of a new development that will feature national/credit tenants such as Quick Quack Car Wash, Chipotle, Taco Bell, Caliber Collision, Circle K, and more. In addition, the asset is less than a mile from Chula Vista Crossings, a Kohl’s anchored center with other tenants including Bob’s Discount Furniture, ALDI, PetSmart, In-N-Out, Panda Express, and more. The property is located near several new housing developments including The Village of Escaya (500+ planned units), Sunbow (700+ homes), and Cota Vera, which will total approximately 4,800 units when completed. The subject property is in close proximity to several high schools including Otay Ranch High School (2,500 students) and Olympian High School (2,300 students). The immediate trade area is supported by a population of over 348,200 residents and 81,200 employees with an affluent average household income of $142,064 within 1 mile.

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Listing ID: a28TP000002PwE9YAK