STARBUCKS (WITH DRIVE-THRU) | TEMPE, AZ
1741 East Warner Road
Tempe, AZ 85284
- Property Type- Retail
- Sub Type - Freestanding Drive-Thru
- Investment Type - Net Lease
- Investment Sub Type - Single Tenant
- Class - A
- Lease Type - NNN
- Tenant Credit - Credit Rated
- Tenancy - Single
- Lease Term - 10.5 years
- Lease Commencement - 9/11/2014
- Lease Expiration - 02/28/2025
- Remaining Term - 4.7 years
- Square Footage - 2,720
- Net Rentable (sq ft) - 2,720
- Occupancy - 100%
- NOI - $133,300
- Units - 1
- Year Built - 2014
- Buildings - 1
- Stories - 1
- Zoning - PCC-1
- Lot Size (acres) - 0.74
- Rent Bumps - 10% / 5 Years
- Broker Co-Op - Yes
- APN - 301-62-008
- Lease Options - Four (4) Five (5) Yr.
- Ownership - Fee Simple
NNN LEASE | INVESTMENT GRADE CREDIT TENANT
The NNN Lease Is Corporately Guaranteed By Starbucks (NASDAQ : SBUX) , The Largest Coffee House Chain In The World With 30,000 Locations In 70 Countries.
Starbucks Boasts Investment Grade Credit (S&P : BBB + / Moodys : Baa1). Strong Brand, Stable Financials, And Premier Locations Make Starbucks The Ideal Single Tenant Investment
PROTOTYPE STORE WITH DRIVE-THRU
Constructed In 2014, The Property Reflects Starbucks Ideal Prototype In Terms Of Footprint, Layout, And Attractive High End Finishes.
The Property Is A Drive-Thru Starbucks Location, Drive-Thru Stores Significantly Outperform Traditional Locations. Many Drive-Thru Stores Remained Open During The Recent COVID-19 Pandemic.
STRATEGIC LOCATION WITHIN RETAIL/OFFICE HUB
Starbucks Is An Outparcel To The Highly Successful Cobblestone Village Shopping Center; An Up Scale Neighborhood Center Anchored By Bashas (Grocery), Raising Canes, and supported by several daily needs, food, fitness and service retailers.
Immediately East Of The Property Is The ASU Research Park, A Major Business Park For The Community Including Tenants: Amazon, GoDaddy, Edward Jones (Regional HQ), Amkor Technology, Indium Communications, Versum Materials, Fox Media, + More.
STRONG REAL ESTATE FUNDAMENTALS
• Tremendous Line Of Site Visibility From East Warner Road
• Convenient Access With Four (4) Ingress/Egress Driveways To Cobblestone Village
• Highly Trafficked Thoroughfare With ±45,000 VPD Passing The Site
• Ample Parking With ±33 Stalls On Parcel (over 10 Stalls / 1,000 SF)
• Direct Access (1.1 Miles) To The 10 Fwy Warner Road On/Off Ramp.
DESIRABLE TRADE AREA DEMOGRAPHICS
Tremendous Tempe, AZ Trade Area Demographics with A Residential Population Of 55,904, A Daytime Population Of 44,988, With An Average Household Income Of $122,966 Within A Two-Mile Radius Of The Site