STARBUCK’S – PHOENIX, AZ

Phoenix, AZ

Price $2,990,000
Cap Rate 5.15%
TYPE Single-Tenant
STATUS Available
Tenant Starbucks Corporation
LEASE TYPE NN
SQUARE FEET 870
YEAR BUILT 2024 (Sept)
LEASE EXP. 08/30/2034
CONTACT Justin Zahn
480-718-5555
[email protected]

Property Description

Starbucks has a Brand new 10-year NN* lease to Starbucks Corporation with attractive 10% rental escalations every 5 years! The Tenant, Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Credit Rating | Moody’s Baa1 Rating) operated over 38,000 locations world. It is a Brand new, build-to-suit construction to Starbucks newest prototype – slated to open September 2024 (est.) – Property features drive-thru/walk-up concept with an impressive 21-car stack!

The Asset is Positioned just off the hard corner (1 mile south of Loop 101 with 152,709 CPD) on a pad site to Goodwill Anchored Retail Center (across the street from a Basha’s Grocery Anchored Retail Center) with excellent drive-by visibility/access on E Union Hills Dr (main west/east thoroughfare) with traffic counts of 54,339 CPD! It is Pad site to a Goodwill/Dollar Tree Shopping Center – across the street from Basha’s Grocery; nearby retailers include Walmart, Sam’s Club, Costco, Home Depot, Hobby Lobby, Target, Kohl’s, Marshalls, Ross Dress for Less, Fry’s, Albertson’s, WinCo Foods, Sprouts Farmers Market, Big Lots, PetSmart, Pet Supplies Plus, Ulta Beauty, and LA Fitness. It is 3.5 miles from the Paradise Valley Community College – a public community college with 5,880 students; 8 miles from Arizona State University West Valley Campus – offers over 125 undergraduate & graduate programs with 4,904 students; 13.5 miles from Grand Canyon University – a private for-profit Christian university offering degrees in over 200 areas of study with 25,200 students; 4 miles from HonorHealth Deer Valley Medical Center – a 204- bed, full-service hospital offering extensive inpatient & outpatient general surgery & cardiac surgery & care.

Property Highlights

  • Brand new 10-year NN* lease to Starbucks Corporation with attractive 10% rental escalations every 5 years!
  • Brand new, build-to-suit construction to Starbucks newest prototype - slated to open September 2024 (est.) - Property features drive-thru/walk-up concept with an impressive 21-car stack!
  • 2023 DEMOGRAPHICS: Total Population (5-MI): 286,638 | Average Household Income (1-MI): $114,176
  • Starbucks Corporation (NASDAQ: SBUX | S&P BBB+ Credit Rating | Moody’s Baa1 Rating) operated over 38,000 locations worldwide
  • Positioned just off the hard corner (1 mile south of Loop 101 with 152,709 CPD) on a pad site to Goodwill Anchored Retail Center (across the street from a Basha’s Grocery Anchored Retail Center) with excellent drive-by visibility/access on E Union Hills Dr (main west/east thoroughfare) with traffic counts of 54,339 CPD!