Cap Rate: 3.65%
Net Operating Income: $289,000
Square Footage: 2,500
Year Built: 2021
The subject offering is a fee simple interest in a brand new Starbucks in Anaheim, California. The corporately guaranteed lease calls for minimal landlord obligations. The 15-year lease calls for 10% rental increases every 5 years. The tenant has four, 5 year options to renew. This Starbucks is strategically located on a heavily trafficked road (44,695 vehicles per day) and includes a drive thru. The asset neighbors TJMaxx, Target, 24 Hour Fitness and The Home Depot.
Anaheim is a city in Orange County, California, part of the Los Angeles metropolitan area. As of the 2010 United States Census, the city had a population of 336,265, making it the most populous city in Orange County, the 10th-most populous city in California, and the 55th-most populous city in the United States. Anaheim is the second-largest city in Orange County in terms of land area, and is known for being the home of the Disneyland Resort, the Anaheim Convention Center, and two major sports teams: the Anaheim Ducks ice hockey club and the Los Angeles Angels baseball team.